Global Masterbatch Market is expected to register a CAGR of 6.52% to reach around USD 13,839.3 Million by the end of 2025.
Masterbatch or MB is an additive for plastics that is majorly used to color plastic (color masterbatch) or confer beneficial physical properties to plastic (additive masterbatch). It is a highly concentrated mixture of pigments and additives, which generally occurs in the form of liquid or solid pellets. Masterbatch is encapsulated into carrier resin during the heating process and then cooled to cut into granules. The demand for masterbatch is continuously growing across the globe because of increasing demand for advanced, high-performance materials from major end-use industries, such as automotive, aerospace, packaging, and consumer goods. The primary factors driving the growth of the global masterbatch market are the increasing use of plastics as a replacement for metals in the manufacturing of various automotive parts due to stringent emission regulations and surging demand from rapidly growing packaging industry. Moreover, beneficial technical properties, such as better color consistency, opacity, good dispersion, and excellent distribution of color, as compared to raw pigments, are expected to fuel the demand for the product, during the forecast period.
However, the problems regarding the cost and complexity of color masterbatches, such as the need for more production space, large equipment, long lead times, and huge cost, are likely to hamper the growth of the market during the forecast period. Nevertheless, the growing popularity of masterbatch as an efficient coloring method and growing use of plastics as a potential replacement for conventional materials are anticipated to help the market to overcome the restraints on the part of cost and complexity of the product.
Market Dynamics
The Global Masterbatch Market is projected to register a healthy CAGR of 6.52% during the assessment period (2019–2025). The demand for masterbatch is continuously growing across the globe on account of increasing demand for the advanced, high-performance materials from the major end-use industries, namely automotive, aerospace, packaging, and consumer goods, among others. The primary factors driving the growth of the global masterbatch market are the increasing use of plastics as a replacement for metals in the manufacturing of various automotive parts due to stringent emission regulations and surging demand from rapidly growing packaging industry. Moreover, beneficial technical properties, such as better color consistency, opacity, good dispersion, and excellent distribution of color, as compared to raw pigments, are expected to fuel the demand for the product, during the forecast period. However, the problems regarding the cost and complexity of color masterbatches, such as the need for more production space, large equipment, long lead times, and huge cost, are likely to hamper the growth of the market during the forecast period. Nevertheless, growing popularity of masterbatch as an efficient coloring method and growing use of plastics as a potential replacement for conventional materials are anticipated to help the market to overcome the restraints on the part of cost and complexity of the product.
Segmentation
The global masterbatch market has been segmented by type, application, and region.
Based on type, the global masterbatch market has been segmented in color, white, black, and additive. The color segment is expected to register a CAGR of over 7% during the forecast period and reach USD 4,980.3 Million by 2025. Color masterbatch is an innovative concentrated mixture of colorants or color pigments that occurs either in liquid or solid form. These are available in a pellet form and offer even dispersion and uniformity of color across the plastic product. In color masterbatch, a color additive or concentrated pigment of colorant is processed into a polymer or carrier resin. The color masterbatch is designed in such a way that the carrier and the processing additives suit a wide range of polymers to serve various applications. The color masterbatch segment is expected both the largest and the fastest-growing segment. This is mainly attributed to the excellent color distribution throughout the final plastic product, easy to store, feed, and handle, as compared to the powdered form pure colorants. Additionally, the packaging manufacturers are adopting various business tactics such as the use of innovative shapes, catchy prints, attractive colors to be able to deliver maximum sale through high consumer attention. White masterbatch is the second-largest type of masterbatch holding over 25% share of the market. The white masterbatch is similar to color masterbatch in terms of process and action. This masterbatch covers a wide range of polyolefin, styrenic, engineering, specialty, and universal carriers to cover a wide range of application areas such as agricultural films, food packaging, wires & cables, food packaging, electronic packaging, and pipe, among others. Growing demand from films, wires, and cables, along with healthy growth of the packaging industry are expected favor growth of this segment.
Masterbatch, with its versatile properties, is used in many applications such as packaging, consumer products, building & construction, automotive, electrical & electronics, and others. One of the prominent applications of masterbatch is in the automotive segment, which accounted for over USD 800 million in 2018 with CAGR of around 7.0% and is expected to be the fastest-growing segment, by application. However, the packaging industry is expected to be the largest consumer of masterbatch in the past, and the trend is expected to continue during the forecast period. The packaging segment had the highest share of over 30% in 2018 and is expected to increase in the coming years. The packaging industry is the largest consumer of masterbatch, which is estimated to grow at a significant CAGR to reach over USD 5,000 million by 2025. The primary factors driving growth in demand for the product in this industry are the shifting consumer trends in favor of using packaged consumer products. In terms of material, plastics account for over 30% share of the global packaging market. The growing focus over gaining consumer attention to increase sale is an emerging trend in the global packaging market, which is likely to boost demand for the color masterbatch in coming years. Globally, the sale of packaged products in emerging markets is likely to increase, owing to both the growing consumptions of numerous retail products and huge demand for consumer goods. This is anticipated to fuel growth of this segment during the forecast period.
Regional Analysis
By region, the global masterbatch market has been divided into Europe, North America, Latin America, the Middle East & Africa, and Asia-Pacific.
In 2018, Asia-Pacific held the largest market share of 39.1% due to rapid growth in the packaging industry and favorable regulatory policies towards automotive industries in the region. The regional market is expected to register a CAGR of over 7.0% during the forecast period. China held the largest market share by value in 2018 and is expected to exhibit a CAGR of around 7.5% during the forecast period.
Europe was the second-largest regional market during the forecast period. The Europe market has been subdivided into Germany, Italy, France, UK, Russia, and Rest of Europe. The global masterbatch market is expected to reach around USD 3,387.0 million by the end of the forecast period—2025. Europe has accounted for the second-largest market share followed by North America. The North America region offers huge growth potential for masterbatch market and is slated to register a CAGR of over 6.0% to reach around USD 3,000 million by 2025 due to the fast-paced industrialization, growing consumption of consumer goods, and building and construction activities in the region coupled with growing number of exports is expected to fuel the growth of the market in the region during the forecast period.
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Key Players
According to MRFR analysis, the key players in the global Masterbatch market are A. Schulman, Inc (US), Cabot Corporation (US), Clariant (Switzerland), PolyOne (US), Plastika Kritis SA (Greece), Ampacet corporation (US), Americhem, Inc (US), Astra Polymers (Saudi Arabia), ALOK (India), Hubron International (UK), GABRIEL-CHEMIE Group (Austria), Prayag Polytech (India), DongGuan HengCai Plastic Pigment Ltd (China), Plastiblends (India), POLYPLAST (Germany), GCR Group (Spain), Tosaf (Israel), RTP Company (US).
Market Segmentation
Global Masterbatch Market, by Type
- Color
- White
- Black
- Additive
Global Masterbatch Market, by Application
- Packaging
- Consumer Products
- Building & Construction
- Automobile Industry
- Electrical & Electronics
- Others
Global Masterbatch Market, by Region
- North America
- US
- Canada
- Europe
- Germany
- UK
- Russia
- France
- Spain
- Italy
- Belgium
- The Netherlands
- CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Thailand
- Australia & New Zealand
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Available Additional Customizations
- Company Profiles of Other Key Players
- Regulatory Framework of General Chemicals
- Raw Material Pricing Analysis
- Pricing Analysis
Intended Audience
- Masterbatch Manufacturers
- Suppliers and Traders
- Government, Associations, and Industrial Bodies
- Investors and Trade Experts
- Consulting in Masterbatch Experts
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