Masterbatch Industry Overview
The global masterbatch market size is expected to reach USD 9.65 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.3% from 2022 to 2030. Increasing replacement of metal with plastic is projected to fuel the market growth. In addition, rising demand from the European region is expected to propel the demand over the forecast period.
Masterbatch Market Segmentation
Grand View Research has segmented the global masterbatch market on the basis of type, carrier polymer, end-use, and region:
Based on the Type Insights, the market is segmented into White Black Color Additive and Filler.
- In terms of revenue, 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 geomembranesis also projected to boost the market growth over the forecast period.
Based on the Carrier Polymer Insights, the market is segmented into Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Biodegradable Plastics and Others.
- In terms of revenue, 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 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.
Based on the End-use Insights, the market is segmented into Packaging Building & Construction Consumer Goods Automotive & Transportation Agriculture and Others.
- 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.
- 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.
Masterbatch Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies Profile & Market Share Insights
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.
Some prominent players in the global masterbatch market include:
- Schulman, Inc.
- Ampacet Corporation
- Cabot Corporation
- Clariant AG
- Hubron International Ltd.
- Penn Color, Inc.
- Plastiblends India Ltd.
- Global Colors Group
Order a free sample PDF of the Masterbatch Market Intelligence Study, published by Grand View Research.
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