The report "Masterbatch Market by Type (Color, Additive, White, Black, Filler), Polymer (PP, LDPE & LLDPE, HDPE, PVC, PET, PUR, PS), Application (Packaging, Building & Construction, Automotive, Consumer Goods, Textile, Agriculture) - Global Forecast to 2025" The masterbatch market is projected to reach USD 14.3 billion by 2025, at a CAGR of 5.1% from USD 11.1 billion in 2020.
Browse 123 market data Tables and 44 Figures spread through 281 Pages and in-depth TOC on "Masterbatch Market by Type (Color, Additive, White, Black, Filler), Polymer (PP, LDPE & LLDPE, HDPE, PVC, PET, PUR, PS), Application (Packaging, Building & Construction, Automotive, Consumer Goods, Textile, Agriculture) - Global Forecast to 2025"
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The increasing use of plastics in day-to-day applications, replacement of metals with plastics in automotive applications, and the rapidly developing industrial sector in emerging economies, such as India, Thailand, Indonesia, Brazil, and Mexico, are augmenting the growth of the market. As the overall masterbatch market is highly unorganized, small players in the market offer low-quality products, which is restraining the market growth. In addition, the stringent government regulations against the use of hazardous products act as a challenge to the masterbatch market. However, the use of innovative technology to reduce environmental hazards will provide growth opportunities for manufacturers of masterbatch.
The masterbatch market is impacted by the economic slowdown caused by the outbreak of COVID-19 at the beginning of 2020. The outbreak has created a pandemic scenario, and as a preventive measure, governments of different countries have imposed nationwide lockdown, resulting in a temporary halt in industrial production of numerous industries.
“Color masterbatch is projected to be fastest growing type for masterbatch between 2020 and 2025”
The color segment is estimated to account for the largest share of the market. Color masterbatch is a mixture of thermoplastics that encapsulate colors to the final product. Technology advancements in color masterbatch have aided in developing a wide range of colors and improving the efficiency of end-use products. There are different types of color masterbatches, such as standard color, specialty color, and tailor-made color. Standard color is used to impart standard color to plastics. This type of masterbatch is readily available in basic colors, such as red, blue, green, and yellow. Specialty color masterbatch is mostly used for high visibility and is readily available with manufacturers. It can be further segmented into metallic, pearlescent, fluorescent, and phosphorescent.
“LDPE & LLDPE is projected to be fastest growing polymer for masterbatch between 2020 and 2025”
LDPE & LLDPE is the fastest-growing polymer for masterbatch. It is projected to register a higher CAGR of in terms of value, between 2020 and 2025. LLDPE is characterized as low-density polymers with good tear strength, flexibility, and resilience. LLDPE has an advantage over LDPE because its polymerization conditions are less energy-intensive, and its properties can be altered by changing its chemical composition. It is broadly used in manufacturing various types of films that are used in wrapping. It is also used in the agriculture, consumer goods, and packaging industries.
“Packaging is projected to be the fastest growing application in masterbatch market between 2020 and 2025.”
It is widely used for industrial and household purposes. Changes in lifestyle and globalization have triggered the demand from the packaging industry for preservative food, beverages, courier services, and packaging products, which will drive the masterbatch market. The automotive industry is estimated to witness strong growth during the forecast period owing to increasing demand for masterbatch-based plastics for exterior and interior applications.
APAC projected to be fastest growing region for the masterbatch market during the forecast period
APAC is projected to be the largest masterbatch market between 2020 and 2025. The growing packaging industry, coupled with increased demand from the retail industry, drives the market in the region. The masterbatch market in the region is characterized by the presence of a large number of small and domestic players providing customized products and services to clients that demand small quantities of masterbatch. APAC also provides high growth opportunities for the manufacturers of masterbatch due to the rapid growth of per capita consumption of plastics and increasing consumer spending.
The key market players profiled in the report include LyondellBasell (US), Avient Corporation (US), Ampacet Corporation (US), Cabot Corporation (US), Plastika Kritis S.A. (Greece), Plastiblends India Ltd. (India), Hubron International (UK), Tosaf Group (Israel), and Penn Color, Inc. (US).
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