Masterbatch Market Set to Witness an Uptick during 2019 to 2025Posted by Mrudula Anil Karmarkar on December 23rd, 2020 The global masterbatch market size is expected to reach USD 15.81 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 6.6% primarily driven by increasing replacement of metal by plastic is projected to fuel the market growth. In addition, rising demand from the European region is further expected to propel the demand over the forecast period. The prevalence of COVID-19 has led to decreased utilization rates of refineries across the globe, resulting in supply shortages for various end-use sectors. The health crisis has, on a different note, has led to a sudden spike in demand for olefins which find usage in the formulation of sanitizers and other cleaning products. The report will account for Covid19 as a key market contributor. In terms of revenue, color masterbatch was the largest segment in 2016 and the trend is anticipated to continue at a growth rate of 7.1% over the forecast period. The increasing need for improving the surface appearance of plastic components in automotive, building & construction, and consumer goods is expected to contribute to the growth. Additive masterbatch is being widely used on account of various properties it imparts to plastics such as antistatic, antifoaming, antioxidant, antimicrobial, thermo-stabilizer, barrier properties, metal deactivators, antiblock, flame retardant, UV stabilizer, oxygen scavenger, and abrasion resistance. The growth of the packaging sector, especially plastic packaging, is anticipated to drive the masterbatch demand. Masterbatch is used in various end-use industries, such as packaging, building & construction, consumer goods, automotive, agriculture, as it imparts useful functional properties such as smooth surface finish and desired hardness. The increasing spending capability of customers toward purchasing attractively packaged consumer goods is expected to trigger the need for various plastic components, which use masterbatches to improve the appearance and other properties. These factors together are anticipated to boost masterbatch market demand over the forecast period. Further key findings from the report suggest:
The global masterbatch market size was valued at USD 8,986.7 million in 2016. The replacement of metal by plastics in end-use industries including automotive, building & construction, consumer goods, and packaging is expected to be a key factor driving the global market growth over the forecast period. Masterbatch is available in solid and liquid forms and is used imparting color and also for enhancing useful properties of polymers such as antistatic, antifog, antilocking, UV stabilizing, and flame retardation. Various types of carrier polymer such as polypropylene, polyethylene, polyvinyl chloride, polyethylene terephthalate are preferred along with the product for use in injection molding and extrusion process. The U.S. masterbatch market was valued at USD 1,624.3 million in 2016 and is anticipated to register a CAGR of 6.9% from 2017 to 2025. The rising demand from the packaging industry in the U.S. is expected to boost the market. There has been a considerable rise in the packaging market in the U.S. on account of growth in e-commerce business. The consumer goods manufacturers are providing attractive product packaging to attract a high number of customers, to boost sales of their products. Different types of masterbatch are used in combination with polymers to make attractive packaging, which is projected to increase the product demand over the forecast period. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/4758/ibb The increasing focus on the use of plastic in the automotive industry to reduce the vehicle weight, and thereby improve fuel efficiency, is driving the demand for different types of plastic that use this product for imparting functional properties. The emerging economies of the Asia Pacific such as China, India, Japan, and others have registered an increase in automobile production activities, which are further expected to boost the plastic components in the region over the forecast period. However, stringent environmental regulations related to the non-biodegradability of plastics pose a challenge to the market as such regulations affect the adoption rate of plastics, which in turn has implications on the demand for masterbatch. Grand View Research has segmented the global masterbatch market on the basis of type, carrier polymer, end use, and region. Masterbatch Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
Masterbatch Carrier Polymer Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
Masterbatch End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |