Color Concentrates Market size is forecast to reach $12.5 billion by 2025, after growing at a CAGR of 6.68% during 2020-2025. Color Concentrates can help in boosting products through multiple stages of the production process. Reduced energy consumption, lower material costs, improved color dispersion, rapid color development and high-impact special effects add value and versatility to your offering, giving you a leg up on the competition, the Color Concentrates market is witnessing an increase in demand. Growing public interest towards sustainable and environment-friendly products will further enhance the overall market demand for Color Concentrates during the forecast period.
Form – Segment Analysis
Liquid color concentrate holds the largest market for color concentrate market as, the liquid color concentrates segment is leading the color concentrates market, owing to its low price, less cost of installation, ease of transportation and storage, reduced waste etc. The liquid color concentrates segment is expected to grow at a high rate during the forecast period. The high growth can be attributed to the rapid color development, reduced energy consumption in their manufacturing, increased color consistency and low material costs. Liquid colorants for plastics can be dosed very accurately at small amounts, making it a viable choice in some transparent applications. For very small volume applications (orders of 50kgs or less), liquid color can have a cost advantage because the batch is produced directly in the shipping container, so there is no compounding equipment to clean. The combination of performance, cleanliness, storage and shelf life, ease of use and cost-effectiveness gives these plastic colorants significant advantages over pre-colored resin compounds, liquid color and raw pigments in most plastic applications.
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End Use – Segment Analysis
Automotive sector has been the primary market for Color Concentrates for many years. Plastic is used in the automotive industry to meet the economic and ecological needs by reducing vehicle weight, in turn ensuring fuel economy. The utilization of plastic color concentrates makes automobile resistant to harsh environmental conditions and more attractive and durable. Asia-Pacific is currently the manufacturing hub of automobiles and its components. Increase in production, particularly in China, India, Taiwan, Thailand and Indonesia, is anticipated to stimulate plastic color concentrates market demand. With APAC holding the largest market share for automotive industry around world, there is a very big market for color concentrates in here. Color Concentrate pigments (for all fabrics) are pure textile pigment colors in a water suspension.
Geography – Segment Analysis
APAC dominated the Color Concentrates market, followed by North America and Europe. Countries such as India, China, Australia, New Zealand, among others are the major markets for concentrate market in this region. With increasing demand for plastics from various applications including packaging, automotive, building and construction, and consumer goods, among others in different countries, the market for plastic color concentrates is likely to witness significant growth during the forecast period. Whereas Color is a key element of product design in the automotive industry, reflecting and even influencing trends in our lifestyles as well as social and technological advances. Plastics are crucial for the exterior and interior design of many of today’s cars. For the coloration of internal and external plastic car parts.
Drivers – Color Concentrates Market
Increasing demand for Liquid color concentrate due to its low cost
Liquid Color Concentrates can help boost your products through multiple stages of the production process. Reduced energy consumption, lower material costs, improved color dispersion, rapid color development and high-impact special effects add value and versatility. Because of it low cost it becomes affordable for every companies even most of the small industries, who needs the color concentrates in small amounts prefer to buy liquid color concentrate which is, increasing the popularity of the product in the market, is likely to aid the market growth for Color Concentrates market.
Implementation of Stringent Environment Regulations
Increasing adoption of sustainable and environment friendly products and implementation of stringent government regulations towards it, will increase the market demand for Color Concentrates in the near future. color concentrates are specially designed to perform well with bioplastics such as PLA, PHA, PHBV, PBS, PBAT and special blends of those materials. Most importantly, these colorants do not compromise the organic recyclability of the resins.
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Challenges – Color Concentrates Market
Impact of Covid 19 on Color Concentrates Market
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in goods’ production and exports had slowdown the market for Color Concentrates Market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Color Concentrates market. Major players in the Color Concentrates market are Clariant, BASF SE, A. Schulman, Inc. (LyondellBasell Industries Holdings B.V.), Cabot Corporation, and PolyOne Corporation, among others.
In 2019, Ampacet a global manufacturer of masterbatch launched a new product in their masterbatch portfolio named as metal detectable masterbatch for plastics. The new product is designed to enhance food safety and it can also minimize food contamination
In 2019, Ampacet a global manufacturer of masterbatch launch a blue edge 226. The product will improve the performance of post-consumer resins plastics by increasing the brightness of plastic film.
In May 2017, Primex Colour, Compounding & Additives launched a new line of thermoplastic elastomers which is used in a wide variety of injection moulded products. The expansion will help the company to increase its color concentrate product portfolio
Asia-Pacific dominates the Color Concentrates market as, demand for color concentrates in plastics and packaging industries are increasing.
Color concentrates allows companies and individuals to give long-lasting, vibrant colors to plastic, which is likely to aid in the market growth of Color Concentrates.
Increasing adoption of sustainable and environment friendly products, implementation of stringent government regulations towards it, will increase the market demand for Color Concentrates in the near future.
Impact of COVID 19 has created hurdles for the Color Concentrates market.
Related Reports :
A. Color Masterbatches Market
B. Plastic Color Concentrates Market
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