PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1423879
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1423879
In terms of value, The masterbatch market size was USD 12.9 billion in 2023 and is projected to reach USD 16.8 billion by 2028, at a CAGR of 5.4% during the forecast period. The increasing use of plastics in everyday applications, replacing metals with plastics in automotive applications, and the developing industrial sector in emerging economies, such as Brazil, India, Thailand, Indonesia, and Mexico, are driving the growth of the market. As the overall masterbatch market is unorganized, small or starting players in the manufacturing side offer low-quality/counterfeit products, which is restraining the market growth for masterbatch. The increasing consumption of plastics in automotive applications is also influencing the growth of the masterbatch market. Color and additive masterbatches are widely used in coloring automotive plastics for their usage in interior and exterior components of vehicles.
Scope of the Report | |
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Years Considered for the Study | 2017-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD Million) |
Segments | Type, Polymer, Application, and Region |
Regions covered | Asia Pacific, North America, Europe, Middle East & Africa, and South America |
"Additive masterbatch is expected to be the second fastest-growing material of the masterbatch market, in terms of value, during the forecast period."
Additive masterbatch is used to improve the properties of polymers to offer better-finished products. Additive masterbatch is segmented into seven subtypes: antimicrobial, antioxidant, flame retardant, UV stabilizers, foaming agents, optical brighteners, and nucleating agents. An optical brightener is used to impart brightness to various plastic products. It also minimizes yellowing in end-use products and helps to improve its optical properties. It is used in various applications such as films & sheets, fibers, molded thermoplastics, extruded products, filaments, and roto-molding. Antioxidant additive masterbatch prevents thermal degradation and oxidation at high temperatures. It stabilizes the polymer and thus helps to enhance the life of plastic products. It has a wide range of applications, such as pipes, BOPP films, tapes, cables, geotextiles, injection & blow molded parts, and rotomolded tanks.
"LDPE & LLDPE accounted for the second largest share of the masterbatch market, in terms of value, in 2022."
LDPE & LLDPE are flexible substances that are mainly used in shopping bags because of their low tensile strength. LDPE is a form of PE used for the most common purposes. This type of PE has high ductility and low tensile strength. This polymer also has unique characteristics such as stiffness and superior clarity. It is used in packaging films, grocery bags, wire & cable insulation, toys, housewares, mulch films, housewares, medical equipment, and lamination films.
"Building & Construction application is expected to be the second fastest-growing type of the masterbatch market, in terms of value, during the forecast period."
Plastics play a key role in the building & construction industry. The demand for plastics in this segment is expected to increase in pipes, flooring, roofing, windows & doors, containers, trim boards, and other applications. Plastics are used in the building & construction industry due to their properties such as high impact strength, good weather ability, and high levels of light transmission. Black masterbatch is widely used to produce pressure pipes. It is cost-effective and used as a substitute for steel and metal in the building & construction industry. Some of the major types of masterbatch-based pipes used are conduit pipe, sewer pipe, CPVC, and ribbed pipe.
"Middle East & Africa is projected to be the second fastest growing region, in terms of value, during the forecast period in the Masterbatch market."
The region presents huge opportunities for masterbatch manufacturing companies, as it is one of the emerging markets globally. Following the recent political turmoil in North Africa, spending on infrastructure remains constrained, although significant opportunities are expected in the future. Reconstruction in Libya and infrastructure upgrades in Egypt are expected to act as a stimulus for the masterbatch market during the forecast period. Countries such as Saudi Arabia and the UAE have lined up numerous mega construction projects in the coming years, which is expected to create a surge in the masterbatch market in the region.
The key players profiled in the report include Avient Corporation (US), Ampacet Corporation (US), LyondellBasell Industries Holdings B.V. (US), Cabot Corporation (US), Plastika Kritis S.A. (Greece), Plastiblends (India), Hubron International (UK), Tosaf Group Ltd (Israel), Penn Color, Inc. (US), and Americhem (US) and others.
Research Coverage
This report segments the market for masterbatch based on type, polymer, application and region and provides estimations of value (USD million) and volume (Ton) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, and key strategies, associated with the market for Masterbatch.
Reasons to Buy this Report
This research report is focused on various levels of analysis - industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the masterbatch market; high-growth regions; and market drivers, restraints, and opportunities.