The scope of our recent study on the "Masterbatch Market Forecast to 2031 -Global Analysis - by Type, Polymer, End-Use Industry, and Geography" includes the factors fueling the market growth, revenue estimation and forecast, market share analysis, and the identification of significant market players and their key developments.
The masterbatch market size was valued at US$ 12.32 billion in 2023 and is expected to reach US$ 18.56 billion by 2031; it is estimated to register a CAGR of 5.3% from 2023 to 2031. Masterbatches used for color purposes are consumed in high amounts, especially in injection, film, blown plastic, and pipe production. As economies continue to develop and urbanize, there is a parallel upsurge in the expansion of manufacturing facilities, fueling the need for plastic products. The masterbatch market has responded by evolving technologically, incorporating innovations in manufacturing techniques to meet the evolving demands of modern industries. Further, the adoption of biodegradable and compostable masterbatch is expected to foster the masterbatch market growth during the forecast period.
Packaging produced from polyethylene masterbatch offers various benefits such as transparency, glossy surface, flexibility, and steam resistance. It also offers resistance against oxygen, carbon dioxide, and nitrogen. The combination of polyethylene calcium carbonate masterbatch and functional masterbatch can be utilized for the production of glued polyethylene bags, antistatic bags, and vacuum bags. Polyethylene terephthalate (PET) is a durable and light plastic used for the production of bottles, jars, containers, and other packaging materials. PET pellets are broadly used to produce containers for food and beverage packaging. The growth of the global plastic packaging sector positively influences the masterbatch market.
Masterbatch is widely used for coloring, UV stabilization, anti-block properties, and flame retardancy in plastic packaging solutions such as films, bottles, containers, sheets, and wraps. It offers several advantages, including precise color control, cost-effectiveness, ease of handling, and customization, making it a preferred choice for achieving desired properties in the packaging products. The presence of established sectors, including food & beverages and consumer goods, in countries such as China, India, Japan, and South Korea propels the demand for packaging solutions in Asia Pacific. The plastic packaging sector in Asia Pacific has witnessed notable growth due to the rapidly expanding packaging industry, growing food retail sector, and rising consumer awareness of the sustainable range of plastic packaging.
Avient Corp, Ampacet Corporation, Cabot Corp, LyondellBasell Industries NV, Plastika Kritis SA, Penn Color Inc, Americhem, FRILVAM SPA, Polyvel Inc, and Vanetti Spa are among the prominent players profiled in the masterbatch market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The masterbatch market report also includes company positioning and concentration to evaluate the performance of competitors/players in the market.
According to the Plastics Export Promotion Council of India, plastic raw materials, films and sheets, flexible and rigid packaging products, pipes, and flooring products are among the major plastic products manufactured in the country. The export of plastics and related materials from India was valued at US$ 11.96 billion during 2022-2023. Plastic raw materials were the largest exported category and constituted 27.76% of the total exports during 2022-2023, reporting a growth of 21.5% compared to 2021-2022. Moreover, plastic films and sheets were the second largest category, comprising 15.13% of the total exports. Rigid and flexible packaging accounted for 5.18% of total exports. Further, the adoption of recycled masterbatches for the production of sustainable packaging is one of the latest masterbatch market trends. According to the Packaging Industry Association of India, the Indian plastic packaging market is expected to grow at a 20-25% rate in the coming years. According to the Japan Plastics Industry Federation, Japan produced more than 3 million metric tons of plastic products, of which plastic film and sheets accounted for a significant share by weight in 2022.
The global masterbatch market is segmented into five main regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Asia Pacific held the largest revenue share of the global masterbatch market in 2022. The major factor driving the masterbatch market in North America is the growing demand of semiconductors.
Global Masterbatch Market Breakdown - by Region
The report includes the segmentation of the global masterbatch market as follows:
The market is segmented on the basis of type, polymer, and end-use industry. Based on type, the market is segmented into white, black, additives, color, filler, and others. Based on polymer, the market is segmented into polyethylene, polypropylene, polyethylene terephthalate, polystyrene, and others. Based on end-use industry, the market is segmented into building and construction, automotive, packaging, agriculture, electrical and electronics, and others.
Based on type, the white segment accounted for the largest masterbatch market share in 2023. White masterbatch is a type of additive used as a colorant in polymer manufacturing. It provides white tones to the colorants. White masterbatch is added to a base resin to enhance its optical and physical properties, providing plastic products with their signature white color and propelling overall durability. White masterbatch is used in various packaging applications such as shopping bags, roll bags, and garbage bags. It is also used in the production of caps and enclosures, bottles, trays, and boxes. Black masterbatch consists of black carbon pigment incorporated with virgin resin and specific additives in a granular form.
Based on polymer, the polyethylene segment held the largest masterbatch market share in 2023. Polyethylene-based masterbatch is a concentrated blend of additives and a base polymer, polyethylene, which is designed to improve the properties of plastics and other materials. Polyethylene is widely used in thermoplastics due to its versatility, affordability, and compatibility. The masterbatch utilized in polypropylene resins is used to enhance the properties of polypropylene-based plastic products such as color, UV resistance, flame retardance, and antimicrobial properties. Polypropylene-based masterbatch is used in polypropylene products such as woven bags, weaving tapes, and bands to offer anti-splitting and anti-fibrillation effects.
Based on end-use industry, the packaging segment accounted for the largest share in the masterbatch market in 2023. Masterbatch is used as a substitute for pigment to provide color for the packaging solutions. Plastic is highly utilized in the packaging industry due to its durability, versatility, and cost savings. Further, to produce different types of packaging, it is necessary to have various types of plastic with different properties that suit the purpose of use and safety. Masterbatch is highly utilized in the building & construction industry as it provides various advantages and functions for a variety of building materials.
By geography, the global masterbatch market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North American masterbatch market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific masterbatch market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa market is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. The South & Central America masterbatch market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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