The masterbatch market is growing on account of the widespread application of plastic products
- Himanshu Patni
- July 8, 2022
- CHEMICAL, NEWS
- Masterbatch Market, Masterbatch Market Growth, Masterbatch Market Share, Masterbatch Market Size
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The global masterbatch market is likely to showcase a growth of around 5% during the forecast period. This can be ascribed to the widespread application of plastic products and the increasing use of plastic over metal and other heavy materials in order to reduce the product weight and cost while simultaneously providing aesthetic pleasure without compromising the quality.
Over the years, the consumption of plastic has increased manifolds. Its low cost, convenience to use over other materials like metal, aesthetic pleasure, ease to increase the production capacity to bridge the supply-demand gap, and helps in reducing the product weight, and all of this without compromising the quality of the end product are some of the key attributable factors resulting to widespread adoption of plastic. A masterbatch is perhaps the most important element in creating quality plastic products. It consists of pigments and additives that impart much required characteristics and color to the end products. Therefore, with the rising consumption of plastic, the demand for masterbatch will eventually increase. Further, as the demand for quality plastic products is increasing due to improving people’s lifestyles with rising consumer disposable income, plastic manufacturers are trying to offer better quality products that consist of several types of additives. These masterbatches contain various types of additives ranging from antiblock masterbatches to laser additives to UV stabilizers, thereby being continually adapted to meet the needs of the market.
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Based on polymer, the market is categorized into PP, PE, PVC, PET, and others. Of all, PE held the prominent share in the market and is likely to maintain its position during the forecast period. PE is classified into HDPE, LDPE, and LLDPE, these together cover a wide range and breadth of applications, for instance, HDPE is used in milk cartons, detergent bottles, cereal box liners, toys, buckets, park benches, and rigid pipes. Owing to this, PE consumes a large amount of masterbatch.
Based on end-user, the market is categorized into packaging, building & construction, automotive, consumer goods, agriculture, and others. Among these, packaging accounted for a substantial share of the market and is also likely to showcase robust growth during the forecast period. This can be ascribed to the wide use of packaging from the food & beverage industry to pharmaceuticals. Further, increasing demand for packaged food due to convenience and changing lifestyles along with increasing penetration of the e-retail industry is increasing the demand for packaging products, thereby propelling the demand for masterbatch.
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For a better understanding of the market adoption of Masterbatch, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a prominent share in the masterbatch market on account of the presence of vast industrial sectors in countries like China, Japan, India, and South Korea. Further, robust growth in the regional e-retail industries is boosting the demand for packaging products, eventually increasing the market for plastic and masterbatch.
Global Masterbatch Market Segmentation
Market Insight, by Type
Market Insight, by Polymer
• Polypropylene (PP)
• Polyethylene (PE)
• Polyvinyl Chloride (PVC)
• Polyethylene Terephthalate (PET)
Market Insight, by End-User
• Building & Construction
• Consumer Goods
Market Insight, by Region
- North America Masterbatch Market
- United States
- Rest of North America
- Europe Masterbatch Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Masterbatch Market
- Rest of Asia-Pacific
- Rest of World Masterbatch Market
Top Company Profiles
- LyondellBasell Industries N.V.
- Avient Corporation
- Ampacet Corporation
- Cabot Corporation
- Plastika Kritis S.A.
- Plastiblends India Limited
- Hubron International
- Tosaf Group
- Penn Color Inc.
- Americhem Inc.