Expansions and New Product Launches are the Key Strategies Adopted by the Leading Players of the Global Color Masterbatch Market
The market size for color masterbatch was USD 3.46 Billion in 2015 and is projected to reach USD 4.75 Billion by 2021, registering a CAGR of 5.6% between 2016 and 2021. Expansions, new product launches, mergers & acquisitions, and collaboration are the strategies adopted by the key players to strengthen their foothold in the global color masterbatch market. The maximum number of strategic developments undertaken between 2012 and 2016 took place in Asia-Pacific, followed by Europe and North America.
The key players operating in the global color masterbatch market are A. Schulman, Inc. (U.S.), Clariant AG (Switzerland), Polyone Corporation (U.S.), Plastiblends India Ltd. (India), and Plastika Kritis S.A. (Greece), Ampacet Corporation (U.S.), Dow Corning Corporation (U.S.), O'Neil Color & Compounding (U.S.), Penn Color, Inc. (U.S.), Polyplast Müller GmbH (Germany), RTP Company (U.S.), Tosaf Group (Israel), and others.
Clariant AG (Switzerland) is one of the leading color masterbatch manufacturers, globally. The company has been focusing on expansion activities to maintain its leading position in the market. For instance, in February 2016, Clariant AG (Switzerland) planned to invest USD 54 Million to expand the production capacity of color and additive masterbatches in Europe, Asia-Pacific, and North America. The expansion helped the company to cater to the demand of high temperature plastics and masterbatches.
In April 2016, A. Schulman, Inc. (U.S.) expanded its color masterbatch plant in Jiangsu, China. The new plant helped the company in producing color additives and tap the Chinese and neighboring markets. The company also increased the production capacity of PET masterbatch compounding in Belgium, in April 2015. It helped the company strengthen its position in the food packaging and Bo-PET film industries in Europe.
The growth of the color masterbatch market is primarily triggered by the rising demand from the packaging segment. Stringent government regulations for the use of environmental polluting products are estimated to hamper the growth of the color masterbatch market. An opportunity for the growth of this market is the use of innovative technology to reduce environmental issues.
Related Reports:
Color Masterbatch Market by Type (Standard Color, Tailor-made Color, and Specialty Color), Carrier Resin (PE, PP, PS, and Others), End-use Industry (Packaging, Building & Construction, Consumer Goods, Automotive, Agriculture, and Others) - Global Forecast to 2021
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