Masterbatch Market Outlook 2021 | Opportunity, Demand Analysis and Forecast to 2026
As per product type, the masterbatch market is categorized into white, black, color, and additive masterbatches.
Delaware, United States – August 4, 2021 /MarketersMedia/ —
According to a Global Market Insights, Inc., analysis report, global masterbatch market size is projected to exceed US$15 billion by 2026.
Masterbatch is a concentrated mixture of pigments, additives, and polymer materials. It is used for imparting color and other properties to plastics, which makes them ideal for various applications in end-use sectors including packaging, automotive, and others. Plastics are widely utilized in the automotive to improve fuel efficiency by reducing the excessive weight of the vehicle which, will act as a key factor augmenting masterbatch consumption.
Demand for masterbatch is driven by the growing preference for lightweight vehicles across the globe. As per reports, more than 17 million vehicles in the U.S. were sold in 2019. With the increase in vehicle sales, the flourishing automotive sector in the region is expected to boost demand for various additives.
Wide industrial application scope
With a variety of more than 200 shades, textures, and colors, masterbatch finds widespread applications in various consumer goods such as insulation of cables, blow molding of bottles, and injection molding household items. Increasing biodegradable masterbatches sales across several end-use industries will drive product masterbatch market trends.
On the other hand, the presence of strict environmental regulations and accelerating prices of the material across the globe might hinder product consumption to a certain extent. Also, the outbreak of COVID-19 causing the shutdown of industrial operations could restrict the forecast for masterbatch demand in various applications.
High demand for color masterbatch
Color masterbatch is considered the among most used products in the category and the segment is projected to grow significantly at 5.5% CAGR up to 2026.
Color masterbatch is widely applicable in various end-use industries including aerospace, furniture, agriculture, construction, consumer goods, automotive, and packaging among others. On account of the substantial utilization in packaging and automotive sectors, white and black masterbatch demand is expected to grow considerably through the next few years.
To access a sample copy or view this report in detail along with the table of contents, please click the link below: https://www.gminsights.com/request-sample/detail/2362
Requirements in the packaging sector
The masterbatch market, as per the end-use is predominantly categorized into packaging, agriculture, construction, consumer goods, automotive, and others including aerospace, furniture, and textile industry. Among others in the category, the packaging sector will account for a significant share of more than US$4.5 billion by 2026.
This demand is due to strong market penetration of the food packaging products that will drive exponential revenue flow to the masterbatch market. Additionally, manufacturers emphasizing on attractive packaging of their products for customer acquisition will generate tremendous growth prospects for the material.
Construction sector in North America
The rapid growth of automotive and plastic packaging sectors in the Asia Pacific makes this region one of the largest and fast-expanding markets for masterbatch. Considerable development in construction, automotive and packaging sectors in North America, Europe and Middle East Asia & Africa is generating substantial demand for masterbatch additives.
Leading companies providing masterbatch market worldwide include Cabot Corporation, Tosaf Group, Clariant, RTP Company, Ampacet, PolyOne, Penn Color, and A. Schulman. These companies are focusing on strategies including R&D activities to develop new products, acquisitions, mergers, collaborations, and partnerships to upgrade their existing product portfolio and strengthen their presence in the global market.
About Global Market Insights Inc.
Global Market Insights Inc. headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights Inc.
Phone: 1-302-846-7766
Website: https://www.gminsights.com/pressrelease/masterbatch-market
Source: MarketersMedia
Release ID: 89040119
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