LyondellBasell (US) and Avient Corporation (US) are the Key Players in the Masterbatch Market
The masterbatch market size is estimated to be USD 11.1 billion in 2020 and is projected to reach USD 14.3 billion by 2025, at a CAGR of 5.1% during the forecast period. Factors such as replacement of metals with plastics in the automotive industry will drive the masterbatch market. The major restraint for the market will be the limiting factors of the masterbatch such more inventory space and longer lead time. However, the growth in emerging economies will act as an opportunity for the market.
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).
Players in the masterbatch are mainly concentrating on new product launches, merger & acquisition, and expansions to meet the growing demand for masterbatch for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
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The growth of the masterbatch market has been largely influenced by new product launches, expansions, agreements and acquisition that were undertaken between 2016 and 2020.
Clariant AG is one of the major players in the masterbatch market. In order to expand its business, the company is focusing on enhancing its market reach by opening plants to increase the capacity. For instance, in February 2019, Clariant AG has expanded its masterbatch production facility in Maine, Sweden and Singapore. This expansion will help the company to meet the increasing demand from customers. Similarly, In March 2018, Ampacet Corporation started new additive production line in Belgium. This expansion will help the company to improve the overall customer experience.
Companies such as Ampacet Corporation and Tosaf Group have adopted new product launches to enhance their market position. The companies also adopted new product launch as a strategy to expand their product portfolio and market presence. For instance, in March 2019, Ampacet has launched a new product called Blue edge masterbatch, designed for use in recycled PET. Similarly, In August 2018, Tosaf Group had launched new heat screening masterbatches IR7579PC and IR7581PC for polycarbonate and PA roofing.
In March 2017, Clariant AG and SICPA SA (Switzerland) entered into a partnership to introduce a new plastic-based anti-counterfeiting system, plastiward, for the first time in North America. Plastiward is made of polymer compounds and tailored masterbatch.
In October 2018, Cabot Corporation acquired the Chinese carbon black manufacturer NSCC Carbon (Jiangsu) Co. Ltd (China). This acquisition will help the company to expand its production facility in China, and hence will increase the production of masterbatch.
Related Reports:
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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