Stratview Research has published a new report titled “Masterbatch Market” which is segmented by Type (Color, White, Black, Additive, and Filler), by Polymer Type (PP, LDPE/LLDPE, HDPE, PVC, PUR, PET, PS, and Others), by Application Type (Packaging, Building Construction, Consumer Goods, Automotive, Textile, Agriculture, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market was estimated to grow from USD 11.43 Billion in 2021 to USD 16.27 Billion by 2028 at a CAGR of 5.11% during the forecast period of 2022-2028.
Masterbatch is an additive used for coloring plastics or imparting other properties to plastics during the manufacturing process. Masterbatches can be of various types such as color, white, black, additive, and filler.
They are widely used in packaging, building construction, consumer goods, automotive, textile, agriculture, and others. They are usually imparted with polymers such as PP, LDPE/LLDPE, HDPE, PVC, PUR, PET, PS, and others.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Type Trends
The Color Type held the largest share of the market in 2021 and is expected to remain dominant during the forecast period.
The market is segmented as color, white, black, additive, and filler. Increasing use of color masterbatch in packaging, building construction, automotive, consumer goods, agriculture, and textile industries is the major factor behind the dominance of the segment.
Polymer Trends
The Polypropylene (PP) Segment holds the market share of 23.8% of the market in 2021 and the market is also expected to witness healthy growth during the forecast period.
The market is segmented as PP, LDPE/LLDPE, HDPE, PVC, PUR, PET, PS, and Others. Polypropylene's demand as a carrier polymer is expected to rise due to its superior mechanical strength and flexibility. Polypropylene also improves surface quality. Because it is lightweight, it is utilized to replace metal components in the automotive sector. All of these reasons are projected to drive the polypropylene segment's growth during the forecast period.
Application Trends
The Packaging Segment holds the largest share of 24.2% of the market and is also expected to witness healthy growth during the forecast period.
The market is segmented as packaging, building construction, consumer goods, automotive, textile, agriculture, and others. Expanding the range of packaging in a wide array of industries including building construction, consumer goods, electricals electronics, personal care, medical, household, and other industries is the major factor driving the growth of the segment.
Which Region is expected to remain the largest market?
Asia-Pacific holds the largest share of31% of the market in 2021 and is the fastest-growing market during the forecast period, with China, Singapore, South Korea, Japan, and India being the major countries with lucrative growth opportunities.
The growth of the market is majorly driven by significant economic development in the regions, the rapidly expanding construction industry, and the presence of a huge consumer base.
North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players active in the Masterbatch Market:
- Clariant AG
- Ampacet Corporation
- Cabot Corporation
- A. Schulman, Inc.
- Polyone Corporation
- Plastika Kritis S.A.
- Plastiblends India Ltd.
- Hubron International
- Tosaf Group
- Penn Color, Inc.
Key questions answered by the report:
- What is the projected CAGR for revenue from the Masterbatch Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Masterbatch Market?
- Which are the major market players?
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Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
