Research Nester Analytics LLC’s recent market research analysis on “Masterbatch Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global masterbatch market in terms of market segmentation by product, carrier polymer, end-user, and by region.
Increasing Adoption Across the Packaging & Automotive Industries to Drive Growth of the Global Masterbatch Market
The global masterbatch market is estimated to grow majorly on account of the rapid rise in the demand for masterbatches across various end-use industries like automotive and packaging. According to the Flexible Packaging Association’s (FPA) 2022 State of the Flexible Packaging Industry Report statistics, the U.S. flexible packaging industry sales amounted to USD 34.8 billion in 2020. Furthermore, flexible packaging represented nearly 20% of the total U.S. packaging industry sales in the same year.
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The rising growth potential of emerging economies such as India, South Korea, China, etc., is a major driving factor for the masterbatch market. These countries have witnessed rapid economic growth due to the ongoing industrialization and urbanization processes. As per the data collected from the World Bank, the annual GDP growth for India in 2021 was 8.7%. Additionally, the GDP growth recorded for China in the same year was 8.1%. Thus, the increasing economic growth has been generating rapid demand for products in which masterbatch is utilized for production.
Some of the major growth factors and challenges that are associated with the growth of the global masterbatch market are:
Growth Drivers:
• Rapid rise in the demand for masterbatches across various end-use industries
• Rising growth potential of emerging countries
Challenges:
The volatility in the prices of raw materials used in masterbatch manufacturing, and the adoption of products with inferior quality are some of the major factors anticipated to hamper the growth of the global masterbatch market.
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Masterbatch is usually prepared by mixing the materials such as titanium dioxide, polyethylene wax, calcium carbonate, additives (powdered or liquid), and a linear polymer. Polymers make up around 35-50% of the total cost of manufacturing; they serve as a medium by which color pigments are administered and are therefore essential. Synthetic polymers such as polyethylene (PE), polypropylene (PP), and other polymers are derived from petroleum hydrocarbons like crude oil. Thus, the cost of masterbatch manufacturing is extensively dependent on the crude oil price. The volatility in crude oil prices has a detrimental impact on market growth. Furthermore, the use of inferior-quality products for plastic manufacturing limits masterbatch adoption, hindering the market's growth. The disruption in the supply chain caused by war and other calamities also limits the global growth of the market.
By product type, the global masterbatch market is segmented into color, white, black, and additives. The color masterbatch segment is to garner the highest CAGR of 6.29% over the forecast period. This can be attributed to the fact that color masterbatch is utilized across a wide range of end-use industries for a number of applications. Further, color masterbatches entail lesser cleaning costs in comparison with conventional coloring agents, pure pigments, and dyes. These characteristics have fueled the growth of the masterbatch market over the forthcoming years. Moreover, white and black masterbatch are the dominating segments among mentioned segments, as they are extensively used in the plastic industry for various purposes.
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By region, the North American masterbatch market would witness the highest CAGR of 6.05% by the end of 2035. This growth is anticipated by the rise in product development and innovation. Manufacturers in the master batch sector are always committing to development and research, which results in the creation of new products that cater to niche applications, propelling market expansion in the region even further.
This report also provides the existing competitive scenario of some of the key players of the global masterbatch market which includes company profiling of LyondellBasell Industries Holdings B.V., Avient Corporation, Ampacet Corporation, Cabot Corporation, Plastika Kritis S.A., Plastiblends, Hubron International, Tosaf Inc., Penn Color Inc., Astra Polymers, Americhem, Gabriel-Chemie Gesellschaft m.b.H., Coperion GmbH, TREFFERT GMBH & CO. KG, Ingenia Polymers Corp., and others.
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