Market Research Report
Masterbatch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Masterbatch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: June 15, 2021
IMARC Services Private Limited
Content info: 144 Pages
Delivery time: 2-3 business days
The global masterbatch market exhibited moderate growth during 2015-2020. A masterbatch refers to a concentrated mixture of pigments and additives that is used for adding a certain hue or stain to various polymers and plastic products. It can also be utilized to enhance specific properties in the products, such as antistatic, ultraviolet (UV) stability and flame retardation. Some of the common types of masterbatches include color, white, black, filler and additive. They are manufactured by heating the concentrated mixture, which is then encapsulated into a carrier resin, cooled down and cut into granular shaped beads. These beads dissolve under high temperatures, thereby dispersing the desired color and properties to the products. As a result, masterbatches find extensive applications in the manufacturing of plastic products that are used across industries, such as automotive, textile, packaging, construction, pharmaceutical and electronics.
The global market is primarily being driven by rapid industrialization, along with the growing demand for environment-friendly and innovative coloring agents. Furthermore, significant growth in the automotive industry is also providing a boost to the market growth. Automobile manufacturers are rapidly replacing heavy metal parts with lightweight plastic components that are fortified with masterbatches to get the desired colors and mechanical properties, thus creating a positive impact on the overall product demand. Additionally, increasing awareness regarding the beneficial properties of masterbatches is acting as another growth-inducing factor. In comparison to the traditionally used coloring agents, masterbatches offer improved color consistency, opacity and dispersion rate. Other factors, including the increasing utilization of black masterbatch for infrastructural applications, coupled with the growing demand for bio-based plastic products, such as agricultural films, are projected to drive the market further. Looking forward, IMARC Group expects the global masterbatch market to grow at a CAGR of around 5% during the forecast period (2021-2026).