The global masterbatch market is projected to grow at a CAGR of 5.1% from 2017 to 2022
The global masterbatch market is projected to reach USD 13.41 billion by 2022, at a CAGR of 5.1% from 2017 to 2022. Innovations in masterbatch and the demand for lightweight materials in the automotive industry is encouraging the replacement of metals with plastics and therefore driving the market. However, the masterbatch market is restrained due to low-cost offerings of masterbatch, which affect the quality of end-use products in emerging countries.
The color segment is the largest type segment of the global masterbatch market
Based on type, the color segment accounted for the largest share of the global masterbatch market in 2016. This large share is mainly attributed to the increasing use of color in manufacturing various plastic applications, such as packaging, building & construction, automotive, consumer goods, agriculture, textile, and others.
The polypropylene segment is the largest polymer segment of the global masterbatch market
Based on polymer, the polypropylene segment is projected to be the largest market size between 2017 and 2022. The demand for masterbatch in this segment is mainly driven due to the efficient, smooth, and dispersion properties of polypropylene for end-use applications of plastics.
The packaging segment is the largest and the fastest-growing application segment of the global masterbatch market
Based on application, the packaging segment is projected to grow at the highest CAGR between 2017 and 2022. The increase in handling and transport of goods due to globalization, liberalization, changing consumer lifestyles, and economic development has led to the increase in demand for better protection and handling of goods. This demand has in turn has led to the increase in consumption of packaging in every sector, thus driving the demand for masterbatch.
Asia-Pacific to be the largest masterbatch market
The Asia-Pacific region is expected to lead the global masterbatch market between 2017 and 2022. Countries in the Asia-Pacific region such as China, India, Taiwan, Indonesia, and South Korea are key consumers of masterbatch. In addition, the increasing demand for masterbatch in the packaging, building & construction, consumer goods, automotive, textile, and agriculture application is further expected to drive the growth of the masterbatch market in the Asia-Pacific region.
Breakdown of profiles of primary interviews for the report
• By Company Type: Tier 1 – 25%, Tier 2 –33%, and Tier 3 – 42%
• By Designation: C Level – 25%, Director Level – 33%, and Others – 42%
• By Region: Europe – 54%, North America – 23%, Asia-Pacific – 15%, and RoW – 8%
Some of the key companies profiled in this report are Clariant AG (Switzerland), A. Schulman Inc. (U.S.), PolyOne Corporation (U.S.), Ampacet Corporation (U.S.), Penn Color, Inc. (U.S.), Plastiblends India Ltd. (India), Tosaf Group (Israel), Hubron (International) Ltd. (U.K.), Cabot Corporation (U.S.), and Plastika Kritis S.A. (Greece), among others.
The global masterbatch market has been segmented on the basis of type, polymer, application, and region. Based on type, the global masterbatch market has been classified into color, additive, white, black, and filler. With respect to polymer, the market has been segmented into PP, LDPE & LLDPE, HDPE, PET, PVC, PUR, PS and others. Based on application, the market has been categorized into packaging, building & construction, automotive, consumer goods, textile, agriculture, and others. With respect to region, the global masterbatch market has been classified into Asia-Pacific, Europe, North America, South America, and the Middle East & Africa.
• Market segmentation based on type, polymer, application, and region
• Market dynamics including drivers, restraints, and opportunities
• Porter’s Five Forces Analysis
• Profile of key players in the global masterbatch market