Masterbatch Market is Expected to Grow at a CAGR of 5.29% by 2030
According to ChemAnalyst report, “Masterbatch Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Masterbatch market registered demand of 5.63 million tons in 2020 and is predicted to reach 9.06 million tons by 2030, growing at a healthy CAGR of 5.29% through 2030 attributed to its use as an additive for enhancing the color aesthetics and improving the mechanical properties such as texture, durability, etc. of polymers or plastics.
A Masterbatch exists in either solid or liquid form and is classified into four different types i.e. Black, White, Color and additive masterbatch, depending upon the required properties and aesthetics in the derived products. All these types find applications in various domains such as White masterbatch has a wide range of applications including lamination, coating, protective films, fibers and in non-woven, pipes, blow and injection moulding. Black masterbatch consist of specially selected carbon blacks that not only impart coloration but also offer enhanced properties like superior UV protection, high jetness and food contact approval. Therefore, black masterbatch is employed in various applications including thin films, thick films and sheet extrusion, pipes and irrigation laterals, polyester staple fiber, non-woven fabrics, PET sheet. Colour masterbatch are high grade pigments that offer colour flexibility and thermal stability making them most desirable for plastic products. In addition, these products due to their exception qualities are being employed in various applications such as insulation cables, injection moulding and blow moulding of bottles.
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Majority of the share of total masterbatch is consumed mainly in polymer production as in automotive and construction sectors manufacturers are replacing the conventional metal structure with the polymers materials owing to their better properties thereby, incrementing the demand for masterbatch in the coming years.
Since the outbreak of Covid-19, a trajectory rise has been witnessed in the demand for masterbatch especially in additive masterbatch due to upsurge in the consumption of polymers for packaging amidst pandemic following by the incline in the e-commerce. Though, there was a decline in the demand of masterbatch from automotive and construction sectors as these are the most drastically hit sectors in the first half of 2020. However, in the latter half of 2020 the industries become operational with their full efficacy and efficiency after the upliftment in the lockdowns, the demand for Masterbatch is bounced back at a substantial pace following the high demand from various end use industries and speedy recovery of automobile and construction sectors coupled with the efforts of the governments of various countries to recuperate their respective economies.
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Regionally, Asia pacific accounted for the major share of the global Masterbatch market and is anticipated to grow at a promising rate due to rapid growth in automotive and Polymer industries coupled with the massive investments in construction projects in the region. Additionally, flourishing food and beverage industry in the region is also going to boost the future Masterbatch demand in APAC region with the increasing shift towards packed food. North America and Europe are also expected to witness a significant Masterbatch market growth over the forecast period.
According to ChemAnalyst report, “Masterbatch Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Some of the major players operating in global Masterbatch market include Avient (PolyOne) Corporation, Basell Polyolefins, Cabot Corporation, Plastiblends India Pvt Ltd, Ampacet Speciality Product Pvt. Ltd, M S Polymer-Technik Elbe Gmbh, Tosaf Group, Ingenia Polymers Corporation, Changzhou Hongmei Plastic Masterbatch Co., Ltd., Hubron International, and others.
“Global Masterbatch market, being linked to packaging, automotive and consumer goods industries, has shown a robust growth alongside growing population, urbanization, rise in per capita income and changing customers preferences. A significant growth is witnessed in its market, as Masterbatch are the most cost effective in compared to other coloring methods as well as easy and convenient method of adding colors to product and there are no safety hazards or health risks associated with them. Moreover, several manufacturers are more focused to produce biodegradable masterbatch that is gaining popularity in food packaging industry along with other consumer goods, is likely to offer a potential boost to the Masterbatch industry in the forecast years. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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