Global Masterbatch Market: Information by Type (Color, White, Black, Additive), Application (Packaging, Consumer Products, Building & Construction, Automobile Industry, Electrical & Electronics), & Region (Asia Pacific, North America) - Forecast till 2023
Global Masterbatch Market is expected to reach USD 11,903.45 million with a robust CAGR of 5.54% in the coming years.
Masterbatch is an additive used as colorants for plastics. It is available in solid or liquid form. It is used in manufacturing colored plastics with enhanced antilocking, antistatic, UV stabilizing, and flame retarding properties. It is a highly concentrated mixture of pigment and additives that undergo several heating processes and then is cooled and shaped in granular pellets. It has become a crucial product with diverse applications in plastic processing such as extrusion, blow molding, injection molding, among others.
According to analysis, the global masterbatch market is expected to reach USD 11,903.45 million with a robust CAGR of 5.54% in the coming years. Rising demand for plastics in automotive industry due to stringent emission regulations and growing demand from the rapidly growing packaging industry are likely to drive the market growth during the forecast period. By type, the color segment accounted for the largest market share of 33.24% in 2017 and is expected to grow at the highest CAGR of 6.60% during the forecast period. Based on application, the packaging segment dominated the market and was valued at USD 3,344.9 million in 2017 and is expected to reach USD 4,631.1 million by the end of 2023 owing to the surging demand for the product in packaged products utilized at the industrial, retail, and institutional levels. Moreover, growing popularity of masterbatch as an efficient coloring method is expected to offer ample opportunities to the market players. The automobile industry segment is likely to be the fastest-growing market with a strong CAGR of 5.66% during the review period due to the growing demand for the substitute for metals in the form of engineered plastics for its light weighting solutions. Growing use of plastics as a potential replacement for the conventional materials is likely to maintain this trend in the near future.
However, problems pertaining to the cost and complexity of color masterbatch is expected to hamper the market growth during the assessment period.
Geographically, the global masterbatch market has been studied across five key regions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
The Asia-Pacific dominated the global market with a notable market share of 38.85% in 2017 and is expected to grow at a robust CAGR of 6.13% during the forecast period owing to the rising applicability of masterbatch in the packaging application. China is the leading country with a market share of 46.78% in 2017 and is likely to reach USD 2,277.3 by the end of 2023 due to rapid industrialization and improved living standards. The European market was the second-largest in 2017 and was valued at USD 2,104.9 million in 2017 owing to the diverse application of the product in building & construction, automotive, packaging, and consumer goods industries. Germany was the major contributor in the region and is expected to reach USD 854.2 million during the review period owing to growing R&D facilities and innovation capabilities. The North American market held a substantial market share of 21.67% and is expected to register a healthy CAGR of 5.15% during the forecast period owing to the growing demand for the product in packaging and automobile applications. The US is the major contributor in the region with a market share of 73.71% in 2017 owing to new product development and the presence of leading manufacturing companies in the region such as A. Schulman, Inc and Cabot Corporation. The Middle East & Africa market was valued at USD 805.3 million in 2017 and is expected to reach USD 1,110.7 in the following years owing to the rising demand for the product in plastic and consumer goods. The South American market is estimated to register a considerable CAGR of 5.56% during the review period owing to the increasing government spending and growing demand for the product in consumer products.
The global masterbatch market has been segmented on the basis of type, application, end-use industry, and region.
Based on type, the global masterbatch market has been categorized into color, white, black, and additive.
On the basis of application, the global masterbatch market has been classified into packaging, consumer products, building & construction, automobile, electrical & electronics, and others.
The global masterbatch market has been analyzed across five major regions, namely– North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Some of the key players operating in the global masterbatch market are A. Schulman, Inc. (US), Cabot Corporation (US), Clariant (Switzerland), PolyOne (US), Plastika Kritis S.A. (Greece), Ampacet Corporation (US), AMERICHEM (US), Astra Polymers (Saudi Arabia), ALOK MASTERBATCHES PVT. LTD. (India), Hubron International (UK), GABRIEL-CHEMIE Group (Austria), Prayag Polytech (India), DongGuan HengCai Plastic Pigment Ltd (China), Plastiblends (India), POLYPLAST (Germany), GCR Group (Spain), Tosaf (Israel), and RTP Company (US).
The report covers brief analysis of geographical region such as:
• North America
o Rest of Europe
o South Korea
o Southeast Asia
o Rest of Asia-Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• As per the analysis, global masterbatch market is projected to reach USD 11,903.45 million by the end of the forecast period at a CAGR of 5.54% during the assessment period.
• By type, the color segment held the largest market share of 33.24% in 2017 and is expected to reach USD 4,202.4 million in the coming years.
• Based on application, the packaging segment dominated the market with a market share of 38.12% in 2017 and is likely to register a significant CAGR of 5.90% during the forecast period.
• Asia-Pacific is to be the highly focused market for key industry participants over the coming years. Rapid industrialization, large consumer base, and growing demand for the product in packaging applications have increased the importance of masterbatch in this region among the industry players.
• Masterbatch manufacturers
• Raw material suppliers
• Traders and distributors of masterbatch
• Production process industries
• Potential investors
• Government bodies
• Raw material suppliers
• color masterbatch
• black masterbatch
• polymer additives
• PVC masterbatch
• filler masterbatch