The Major Factors Include Increasing Focus on the Use of Plastic in the Automotive Industry, Growing Use of Biodegradable Masterbatch, and Technological Advancements in the Plastic Industry are Bolstering the Growth of the Market
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Increasing Focus on the Use of Plastic Over Metals
Growing usage of plastics over metal in various industries such as automotive, packaging, construction, consumer goods, transportation are bolstering the growth of the market. In automotive industry, there is a surge in adoption of plastic materials due to its ability to reduce the weight and carbon emission in vehicles. Also, it increases the fuel efficiency in the vehicles, which in turn, is expected to drive the growth of the market in the upcoming years. Moreover, the rising building sector in various countries is projected to fuel the growth of the market. This is due to the improvements in transport and mobility systems, electricity mega projects, and innovation in social infrastructure. For instance, as per the Business Monitor International (BMI), IN 2018, European construction witnessed a growth of 2.4%, on account of an increased trust in the industry, increased demand and strengthened exports, and improved outlook for commodity prices.Increasing Demand for Biodegradable Masterbatches to Foster the Market Growth
Over the past few years, the use of biodegradable masterbatch is rising in various daily consumer good applications, particularly in food and beverage industry. This is due to the various challenges faced by the conventional plastic such as they take several hundred years to degrade. The growing demand for biodegradable masterbatch in packaging industry is also providing various opportunities to the new players in the market. The Biodegradable masterbatch has various benefits such as they are cost-effective, helps to minimize the impact of plastic waste, and it adds value to brands and products.Increasing Adoption of Plastic Packaging in Various Sectors
The rising adoption plastic packaging in various sectors such as medical, home & personal care, and food & beverages are fueling the growth of the market. In food & beverages, the use of packaging helps to enhance food quality, and helps to increase the shelf life. In addition, pharmaceutical industry is another major sector, where plastic packaging is widely used. The pharmaceutical industry hugely relies on packaging and labelling due to its properties such as moisture barrier, low water absorption, heat and flame resistance, high stability, and others. Thus, in turn, augmenting the growth of the market. For instance, in 2018, according to the EPA estimation, roughly 14.5 million tons of plastic containers and packaging were generated.Market Segmentation
The global masterbatch market is segmented into type, polymer, application, end user industry, and company. Based on type, the market is divided into white, black, additive, color, and others. Based on polymer, the market is divided into PP, LDPE/LLDPE, HDPE, PVC, PET, and others. Based on application, the market is divided into film extrusion, injection molding, blow molding, rotomolding, and others. Based on end user industry, the market is divided into packaging, building & construction, consumer goods, automotive, textile, and others. In terms of country, the United States is expected to be a lucrative market in the forecast period due to the rise in adoption of plastic packaging in food and beverages in the country.Market Players
Clariant AG, Avient Corporation, Ampacet Corporation, Cabot Corporation, Plastika Kritis S.A., Plastiblends India Ltd., Penn Color, Inc., LyondellBasell Industries N.V., Hubron (International) Limited, Tosaf Compounds Ltd., A. Schulman, Inc., Global Colors Group, Ingenia Polymers Corporation, and RTP Company, Inc. are some of the leading companies operating in the market.Report Scope:
In this report, global masterbatch market has been segmented into following categories, in addition to the industry trends which have also been detailed below:Masterbatch Market, By Type:
- White
- Black
- Additive
- Color
- Others
Masterbatch Market, By Polymer:
- PP
- LDPE/LLDPE
- HDPE
- PVC
- PET
- Others
Masterbatch Market, By Application:
- Film Extrusion
- Injection Molding
- Blow Molding
- Rotomolding
- Others
Masterbatch Market, By End User Industry:
- Packaging
- Building & Construction
- Consumer Goods
- Automotive
- Textile
- Others
Masterbatch Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Masterbatch Market
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Table of Contents
Companies Mentioned
A selection of companies mentioned in this report includes:
- Clariant AG
- Avient Corporation
- Ampacet Corporation
- Cabot Corporation
- Plastika Kritis S.A.
- Plastiblends India Ltd.
- Penn Color, Inc.
- LyondellBasell Industries N.V.
- Hubron (International) Limited
- Tosaf Compounds Ltd.
- A. Schulman, Inc.
- Global Colors Group
- Ingenia Polymers Corporation
- RTP Company, Inc