New Product Launches and Expansions are the Key Strategies Adopted by the Leading Players of the Global Additive Masterbatch Market
The growth prospects for the additive masterbatch market are positive, and the market is expected to witness a high growth rate between 2016 and 2021. Rapid industrialization in developing economies such as India, Indonesia, Brazil, and Mexico is expected to drive the global additive masterbatch market. The market in these countries is emerging owing to their exponential economic growth in the recent years. China, India, South Korea, Indonesia, Thailand, Taiwan, Mexico, Brazil, and Argentina have been witnessing rapid growth in the key manufacturing sectors. The automotive, packaging, chemicals, building & construction, textiles, consumer goods, and pharmaceuticals industries of these countries have grown significantly over the years. The growth in these industries plays a pivotal role in driving the market for additive masterbatch.
New product developments and expansions are the key strategies adopted by major additive masterbatch manufacturers in the recent past. The top players in the protective fabrics market adopted these strategies for expanding their business into emerging regions. These developments will help the companies comply with the growing demand for additive masterbatch in various applications. The key players dominating the market are A. Schulman, Inc. (U.S.), Clariant AG (Switzerland), Polyone Corporation (U.S.), Plastiblends India Ltd. (India), Plastika Kritis S.A. (Greece), Ampacet Corporation (U.S.), and Dow Corning Corporation (U.S.).
Clariant AG (Switzerland) and A. Schulman, Inc. (U.S.) account for a major share in the global additive masterbatch market. These companies focus on launching innovative products to meet the requirement of their consumers. The growing applications of additive masterbatch in various industries demand technological developments. Thus, the players are concentrating their efforts in developing advanced technologies.
Clariant AG launched a liquid additive masterbatch, which reduces discoloring of PET bottles. The new technology can be used in a variety of PET processes, including injection molding, blow molding, and extrusion. This new technology is expected to help the company have a competitive edge over its competitors.
A schulman proposed to add masterbatch production capacity of its production site in Givet, France. This expansion is expected to boost the company’s production for additive and black and white masterbatch in Europe. The company is focusing on expanding its production facilities to meet the demand for additive masterbatch in pharmaceutical and industrial applications.
The market leaders have adopted different strategies for the developed and developing countries. Asia-Pacific is leading the market for additive masterbatch. The rising demand from the end-use industries is driving the market for additive masterbatch in the region.
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Additive Masterbatch Market by Type (Antimicrobial, Antioxidant, Flame Retardants), Carrier Resin (PE, PP, PS), and End-use Industry (Packaging, Building & Construction, Consumer Goods, Automotive, Agriculture) - Global Trends & Forecasts to 2021
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