The report “Masterbatch Market by Type (Color, Additive, White, Black, Filler), Polymer (PP, LDPE & LLDPE, HDPE, PVC, PET, PUR, PS), Application (Packaging, Building & Construction, Automotive, Consumer Goods, Textile, Agriculture), & Region – Global Forecast to 2028″, 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%, between 2023 and 2028. Masterbatch is a blend of pigments, additives, and polymer materials, which are used to impart color and strengthen the properties of plastics. The global masterbatch market is expected to witness significant growth during the forecast period. The replacement of metals with plastics in automotive applications and the increasing preference for masterbatch as a coloring method are augmenting the growth of the market.
Download PDF Brochure
Browse
- 404 Market data Tables
- 50 Figures
- 318 Pages and in-depth TOC on “Masterbatch Market – Global Forecast to 2028”
Some of the prominent key players are:
- 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),
- Americhem (US))
Driver: Replacement of metals with plastics in automotive applications
In the past five years, although the growth of the automotive industry in this region has remained steady, there has been a significant increase in the use of lightweight materials to produce vehicles. The increase in the consumption of plastics in automotive applications positively influences the growth of the masterbatch market. Masterbatches, especially color and additive, are widely used in coloring automotive plastics for use in the interior and exterior components of vehicles.
Request for Special Pricing
Based on application, packaging was the largest segment of the masterbatch market, in terms of value, in 2022.
The need for packaging in the food & beverage, personal care, medical, household, electrical & electronics, building & construction, automotive, and other industries drive the masterbatch market. Packaging is widely used for the protection and transportation of goods. The increase in handling and transportation of goods due to globalization, liberalization, changing consumer lifestyles, and economic development has led to a rise in the demand for better protection and handling of goods. The availability of a wide variety of plastics and their adherence to regulatory standards make them the most extensively used material for packaging. Plastic can be molded, extruded, blown, and cast into films, sheets, foams, and pellets.
Asia Pacific accounted for the largest market share of the masterbatch market, in terms of value, in 2022.
China accounted for the largest consumer of masterbatch in the Asia Pacific region. India is projected to grow at the highest CAGR, in terms of both value and volume in the Asia Pacific region, during the forecast period. Asia pacific offers great growth opportunities to different market players in various countries. The ever-growing population in Asia Pacific, along with the adoption of modern technologies, innovations, easy availability of inexpensive land, easy availability of raw materials, and cheap labor costs are expected to lead to significant market growth in the region. The growth of industries such as packaging, textile, building & construction, automotive, consumer goods, and agriculture is increasing the demand for masterbatch.
