Masterbatch Market Will Reach to $9.65 Billion by 2030 Due to Replacement of Metal With Plastics in Consumer Goods, Packaging, Automotive and Transportation Sectors | Grand View Research, Inc.

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According to a new report published by Grand View Research, the growing need for various agricultural products such as drip irrigation tubing and tape, greenhouse films, shade cloth, and geomembranes is projected to boost the masterbatch industry growth over the forecast period.

Masterbatch Industry Overview

The global masterbatch market size was valued at USD 5.60 billion in 2021 and is expected to reach USD 9.65 billion by 2030, expecting to expand at a compound annual growth rate (CAGR) of 6.3% during forecast period.

The replacement of metal with plastics in the end-use industries including automotive and transportation, building and construction, consumer goods, and packaging is expected to be a key factor driving the global market over the forecast period. The product is available in solid and liquid forms and is used for imparting color and enhancing useful properties of polymers such as antistatic, antifog, antilocking, UV stabilizing, and flame retardation. Various types of carrier polymers such as polypropylene, polyethylene, polyvinyl chloride, and polyethylene terephthalate are preferred along with the product for use in injection molding and extrusion processes.

Gather more insights about the market drivers, restrains and growth of the Global Masterbatch Market

The U.S. market size was valued at USD 877.38 million in 2021. The rising demand from the packaging industry in the U.S. is expected to boost market growth. There has been considerable growth in the packaging market in the U.S. on account of growth in the e-commerce business. The consumer goods manufacturers are providing attractive product packaging to attract a large number of customers to boost sales of their products. Different types of masterbatch are used in combination with polymers to make attractive packaging, which is projected to increase the product demand over the forecast period. 

The increasing focus on the use of plastic in the automotive industry to reduce the vehicle weight and thereby improve the fuel efficiency is driving the demand for different types of plastic that use the product for imparting functional properties. The emerging economies of the Asia Pacific such as China, India, and Japan have witnessed an increase in automobile production activities. This is further expected to boost the demand for plastic components in the region over the forecast period. However, stringent environmental regulations related to the nonbiodegradability of plastics pose a challenge to the market as such regulations affect the adoption rate of plastics, which, in turn, has implications on the demand for the product.

 

 

Masterbatch Market Segmentation

Based on Type Insights, the market is segmented into white, black, color, additive and filler

Black masterbatch held the largest share of more than 25.0% in 2021. The growth in demand for black masterbatch is attributed to the high demand for tires, PVC containers, and other products for application in the automotive and transportation, building and construction, agriculture, and packaging industries.
The growing need for various agricultural products such as drip irrigation tubing and tape, greenhouse films, shade cloth, and geomembranes is also projected to boost the market growth over the forecast period.
The color on products is used to differentiate the products in the market, which is an important factor driving the demand for color masterbatches over the forecast period. In addition to this, color masterbatches provide customization alternatives to manufacture products with attractive visual appearance.
 

Based on Carrier Polymer Insights, the market is segmented into polypropylene (PP), polyethylene (PE), polyvinyl chloride (PVC), polyethylene terephthalate (PET), biodegradable plastics and others

Polypropylene (PP) masterbatch held the largest share of more than 25.0% in 2021. The demand for polypropylene as a carrier polymer is projected to increase owing to its excellent mechanical strength and flexibility offered by it. Polypropylene also enhances the quality of surfaces.
The polyethylene segment in the European market was valued at over USD 230 million in 2021. Germany as a major manufacturing hub is expanding its production facilities, which is expected to increase the demand for polyethylene.
Polypropylene is being extensively used in consumer goods, which has been a contributing factor to the growth of the product demand. It has antimicrobial and antibacterial properties, making it useful in manufacturing various products related to building and construction.
The polypropylene manufacturers are shifting the focus from synthetic to biobased due to environmental concerns, which is projected to drive the market over the forecast period.
 

Based on the End-use Insights, the market is segmented into packaging, building & construction, consumer goods, automotive & transportation, agriculture and others

The packaging industry includes retail, industrial, and consumer packaging, which further includes flexible and rigid options. A rise in the number of city inhabitants who require packaged goods is resulting in the increased demand for packaging.
Consumers need packaging that is convenient, sustainable, flexible, offers protection and is easily traceable. As plastic packing fulfills all these needs, its demand is expected to grow, which is, in turn, projected to result in the growing demand for the product. There is the immense growth potential for the packaging industry in emerging economies such as India and China.
The rise in infrastructural activities in these countries has resulted in the growing demand from the building and construction sector, which may boost the product demand. The development of various government schemes such as Make in India and Smart City plans is also projected to ascend the demand for the product over the forecast period.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa

Asia Pacific held the largest share of more than 30.0% in 2021. The increased demand can be attributed to the presence of a number of end-use industries including automotive and transportation, packaging, building and construction, and consumer goods. The growth of these industries is expected to fuel the demand for the product over the next eight years.
Europe was the second-largest regional market in 2021 and the trend is projected to continue over the forecast period. The rapid growth of the packaging, consumer goods, and automotive and transportation industries, coupled with the growing building and construction and agriculture sectors in Asia Pacific, which are among the major end-use sectors using the product, is projected to be a major market driver.

Market Share Insights:

July 2020: PolyOne (Avient Corporation) has signed to acquire the masterbatch business from Clariant. The deal was agreed at CHF 1.8 billion. The acquisition of the masterbatch business is expected to be closed by the third quarter of 2020.
June 2020: Ampacet Corporation introduced two laser marking masterbatch solutions, namely, Laser Mark 1001074-E and Laser Mark 1001088-E, which has high contrast on a clear and dark surface.
November 2016: Hubron International entered into a partnership-agreement with REDA Chemicals (UAE), the sole distributor of Hubron’s extensive range of black masterbatches in the Middle East.
 

Key Companies Profile:

The market is fragmented with the presence of several global and regional players. Key players in the market comply with the regulatory policies and are engaged in research & development activities to develop innovative products. Most of the key industry players are integrated across the value chain posing entry barriers for new market players.

Some prominent players in the global masterbatch market include:

A. Schulman, Inc.
Ampacet Corporation
Cabot Corporation
Clariant AG
Hubron International Ltd.
Penn Color, Inc.
Plastiblends India Ltd.
Global Colors Group
PolyOne Corporation
Tosaf Group

Order a free sample PDF of the Masterbatch Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services. 

Web: https://www.grandviewresearch.com

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