The first masterbatches were developed in the 1950s; when the world entered a more stable period after the war, the superiority of plastic earned its expected attention and interest. Since then, concentrated efforts on research and development on more advanced plastics for usage in a wide range of industries and products have been observed. Filler masterbatch was also enhanced and widely employed at this time as an excellent instrument that greatly aided plastic processing and mass production.
The latest trend in the masterbatch market includes development of bio-based and biodegradable masterbatches and increased usage of recycled plastic coupled with near-infrared radiation distinguishable masterbatches.
Masterbatch Industry Overview -
The global Masterbatch Market is estimated to reach $20.5 billion in 2025, at a compound annual growth rate (CAGR) of 6.89% during the period 2019-2025. The major driving factor for the market's robustness will be rising awareness regarding eco-friendly products, increasing plastic consumption in the automotive sector, and increasing demand for attractively packaged foods and beverages.
Market Segmentation
Masterbatch Market by Substrate Types -
Polyolefins such as polypropylene and polyethylene are anticipated to cater to the demand for various industries such as packaging, automotive, electrical and electronics, and building and construction. In addition, polyolefins with certain additives can be recycled and rendered biodegradable in a suitable environment and controlled conditions, thereby maintaining the demand for the polymer even in regions with a strict regulatory landscape. These plastics are mostly used for shipping containers, packaging, drink lids, food containers, caps, straws, and bottles, among other applications.
Masterbatch Market by Product Types -
Color masterbatches have dominated the global masterbatch market since the inception of color masterbatches, and the trend is expected to remain the same during 2021-2025. Color masterbatches have a wide range of applications such as injection molding of household items and insulation of cables, blow molding of bottles, and other hollow objects. In addition, black masterbatches find applications in plenteous applications mulching, agricultural tarpaulins, irrigation pipes, rigid and flexible packaging, furniture, toys, automotive compounding, electrical and electronics geomembranes, conduits, plugs, hoses, fittings, water tanks, and corrugated tubes.
Masterbatch Market by State Types -
Solid Masterbatches, in 2020, dominated the market owing to the rising demand for plastic as an alternative for a plethora of raw materials such as metal, concrete, and steel in automotive, consumer goods, electronics, construction, and packaging sectors. On the contrary, liquid masterbatches managed to reap a low share owing to their limitations, specifically primarily compatibility with only light and transparent colors. However, the liquid masterbatches are expected to witness the fastest CAGR owing to lower energy consumption during production and their requirement in low quantity as compared to solid masterbatches.
Masterbatch Market by Region -
The demand for masterbatches varies according to various regions. The market holds a prominent share in various countries of North America, Asia-Pacific, and China. Europe is currently the largest revenue-generating region in the masterbatch market, predominantly backed by demand for premium masterbatch solutions. Industrial advancements, technological advancements, extensive investments for dedicated R&D facilities, and the presence of major display manufacturing companies are some of the major drivers that are propelling the growth of the market in the country.
Key Market Players -
BASF SE, Cabot Corporation, CONSTAB Polyolefin Additives GmbH, Gabriel-Chemie G.m.b.H., Tosaf Compounds Ltd., Avient Corporation, Ampacet Corporation, Americhem Inc., LyondellBasell Industries N.V., Plastika Kritis S.A., Hubron International, Penn Color, Inc., Karina Plastics, Cromex S/A, Dainichiseika Color & Chemicals Mfg. Co. Ltd, Sukano AG, Polyvel Inc., FKuR Kunststoff GmbH, Akro Plastic Gmbh, Italmaster Belgium NV
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How This Report Can Add Value :
Product/Innovation Strategy: The product segment helps the reader in understanding the different types of substrates used and various masterbatch types based on functionality and their market potential globally. Moreover, the study provides the reader a detailed understanding of masterbatches with respect to end users (i.e., packaging, consumer goods, medical and textiles, among others).
Growth/Marketing Strategy: Players operating in the global masterbatch market are developing innovative products to enhance the capabilities of their product offerings especially in the eco-friendly and sustainability domain. Growth/marketing strategies will help the readers in understanding the revenue-generating strategies adopted by the players operating in the global masterbatch market.
Key questions answered in the Report -
• Why are masterbatches a requirement in the market? How has the masterbatch market evolved over the years?
• Which type of masterbatch is anticipated to dominate the market in the five years (2021-2025)?
• What are the driving and restraining factors affecting the global masterbatch market?
• What trends are expected to impact the masterbatch market in the coming years?
• What are the opportunities for players in the global masterbatch market?
• How is the demand for masterbatches expected to change with the stringent regulatory landscape?
• What are the applications and corresponding end-use industries driving the demand for masterbatches?
• Which region and which country are the major consumers in the global masterbatch market?
• Which country/region is going to emerge as a potential revenue-generating pocket for the global masterbatch market during the forecast period 2021-2025?
• What are the strategies adopted by major players in the masterbatch market?
• Which end-user industry is expected to dominate the masterbatch market by 2025?
• How are the prices of products going to behave in the next five years, and what is their impact on the masterbatch market?
• How has COVID-19 impacted the masterbatch business across the supply chain globally?
• Which key organizations across various countries are involved in research and development for masterbatch products?
• How is the demand-supply curve for masterbatch going to shift over the years (2021-2025)?
• What are customer attributes across various countries for the masterbatch product adoption?
• How does the adoption of masterbatch expected to impact the profit and operation of the end-user industry?
• How is the sales channel of the masterbatch projected to evolve over the forecast period?
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