According to the new market research 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) – Global Forecast to 2025″, The masterbatch market is projected to reach USD 14.3 billion by 2025, at a CAGR of 5.1% from USD 11.1 billion in 2020.
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Masterbatch is a blend of pigments, additives, and polymer materials (carrier resin). It is used as a chemical ingredient to enhance the properties of plastics and impart shades of color. Masterbatch is widely available in granular shape for easy processing of plastic products. Color, additive, black, white, and filler are the different types of masterbatches used in polymers such as PP, LDPE & LLDPE, HDPE, PVC, PET, PS, and PUR. Some of the important applications of masterbatch are packaging, building & construction, automotive, consumer goods, textile, and agriculture.
The color segment is estimated to account for the largest share of the market. The growing need for color masterbatch in the packaging, building & construction, automotive, consumer goods, and agriculture applications to increase the aesthetic appeal of the product is driving the color masterbatch market. There are different type of color masterbatches namely, standard color, specialty color, and tailor-made color. Standard color is used to impart standard color to plastics. This type of masterbatch is readily available in basic colors such as red, blue, green, and yellow. Specialty color masterbatch is mostly used for high visibility and is readily available with the manufacturers such as metallic, pearlescent, fluorescent, and phosphorescent. Finally, tailor-made color is customized color based on consumer demand.
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The masterbatch market size is estimated to be USD 11.1 billion in 2020 and is projected to reach USD 14.3 billion by 2025, at a CAGR of 5.1% during the forecast period. Factors such as replacement of metals with plastics in the automotive industry will drive the masterbatch market. The major restraint for the market will be the limiting factors of the masterbatch such more inventory space and longer lead time. However, the growth in emerging economies will act as an opportunity for the market.
The key market players profiled in the report include LyondellBasell (US), Avient Corporation (US), Ampacet Corporation (US), Cabot Corporation (US), Plastika Kritis S.A. (Greece), Plastiblends India Ltd. (India), Hubron International (UK), Tosaf Group (Israel), and Penn Color, Inc. (US).
Players in the masterbatch are mainly concentrating on new product launches, merger & acquisition, and expansions to meet the growing demand for masterbatch for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
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The growth of the masterbatch market has been largely influenced by new product launches, expansions, agreements and acquisition that were undertaken between 2016 and 2020.
Clariant AG is one of the major players in the masterbatch market. In order to expand its business, the company is focusing on enhancing its market reach by opening plants to increase the capacity. For instance, in February 2019, Clariant AG has expanded its masterbatch production facility in Maine, Sweden and Singapore. This expansion will help the company to meet the increasing demand from customers. Similarly, In March 2018, Ampacet Corporation started new additive production line in Belgium. This expansion will help the company to improve the overall customer experience.
Companies such as Ampacet Corporation and Tosaf Group have adopted new product launches to enhance their market position. The companies also adopted new product launch as a strategy to expand their product portfolio and market presence. For instance, in March 2019, Ampacet has launched a new product called Blue edge masterbatch, designed for use in recycled PET. Similarly, In August 2018, Tosaf Group had launched new heat screening masterbatches IR7579PC and IR7581PC for polycarbonate and PA roofing.
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