Increasing Usage of Plastics in Automotive Industry to Propel Growth of the Market
Plastic materials, owing to their superior material characteristics, such as heat resistance, strength-to-weight ratio, and chemical stability, are increasingly being used to replace traditional materials, including bronze, stainless steel, and cast iron during automotive production. Plastic color concentrates, such as masterbatch ensure that the above needs are sufficed by offering new design opportunities in terms of color and form. This, in turn, makes automobiles resistant to harsh environmental conditions and also, makes them more attractive and durable.
Masterbatch hold the Largest Share of the Product Type Segment
Masterbatches are used by several technological methods including injection, blow, spinning, and few others and is primarily used in packaging, building & construction, consumer goods, automotive, textiles, and other sectors.
Masterbatch allows the manufacturer to color raw polymer economically during the plastics manufacturing process. Color masterbatch, which is used for coloring plastics, is widely used in various end-user industries, such as automotive, appliances etc., to make products look visually appealing. These end-user industries depend heavily on color for their marketing and branding strategies. Color masterbatch is used in the production of plastics for automobiles, electronic appliances, flexible packaging for food & beverages and medicine packaging.
Asia-pacific - The Largest Region by Demand
The growth of the market in the region is directly linked to the growing plastic industries in different countries in the region. China accounts for the largest share of the market in Asia-Pacific. In 2016, China was the largest producer of plastic materials in the world, accounting for 27.8% of the global plastics production. Moreover, China is the largest in terms of purchasing power parity and the second-largest economy in terms of nominal GDP. China is one of the lucrative markets for plastic based additives, due to the availability of low-cost raw materials and labor. Other counties in the region, such as India and Japan are also expected to witness significant growth over the forecast period.
Notable Developments in the Market
- December 2017: BASF had increased prices of additives for plastics applications
Reasons to Purchase this Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Understanding the dominating end-user and application in the market
- Countries expected to witness the fastest growth during the forecast period
- Identifying the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet in excel
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1.1 Scope of the Report
1.2 Research Phases
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Raw Material Analysis
4. Market Dynamics
4.1.1 Increasing Use of Plastics in Automotive Sector
4.1.2 Growing usage in Consumer Goods and Appliances
4.1.3 Other Drivers
4.2.1 Stringent Regulations Regarding Plastic Usage
4.2.2 Other Restraints
4.3.1 Shifting Focus towards Organic Alternatives
4.3.2 Developments in Liquid Concentrates
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Product Type
5.1.2 Liquid Concentrates
5.2 By Application
5.2.2 Building and Construction
5.2.3 Sports and Leisure (including Toys)
5.2.8 Non-woven Fibers
6. Future of the Market
7. Regional Market Analysis (Market Size, Growth, and Forecast)
7.1 North America
7.1.1 United States
7.1.4 Rest of North America
7.2.2 United Kingdom
7.2.7 Rest of Europe
7.3.4 South Korea
7.3.5 ASEAN Countries
7.3.6 Rest of Asia-Pacific
7.4 South America
7.4.3 Rest of South America
7.5 Middle East & Africa
7.5.1 Saudi Arabia
7.5.2 United Arab Emirates
7.5.3 South Africa
7.5.4 Rest of Middle East & Africa
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & services, Recent Developments, and Analyst View)
9.2 Ampacet Corp.
9.3 BASF SE
9.4 Cabot Corp.
9.5 Changzhou Hongmei Plastic Masterbatch Co., Ltd.
9.6 Clariant International
9.7 Dow Plastics International
9.8 Ferro Coporation
9.9 GABRIEL-CHEMIE Group
9.10 Hubron International
9.11 Kunststof-KEMI Skandinavia
9.12 Plastika Kritis S.A
9.13 PolyOne Corp.
9.14 Polyplast Muller Group
9.15 Tosaf Group
*List Not Exhaustive
**Subject to Availability in Public Domain
- Ampacet Corp.
- BASF SE
- Cabot Corp.
- Changzhou Hongmei Plastic Masterbatch Co. Ltd.
- Clariant International
- Dow Plastics International
- Ferro Coporation
- GABRIEL-CHEMIE GROUP
- Hubron International
- Kunststof-KEMI Skandinavia
- plastika kritis s.a
- PolyOne Corp.
- Polyplast Muller Group
- Tosaf Group