Additive Masterbatch Market to Witness a Steady Growth Over 2023
Global supply of additive masterbatch has is expected to grow impressively over the next couple of years. The consistent growth of the plastic industry is booting the demand for additive masterbatch. Market Research Future (MRFR) projects that the global additive masterbatch market will witness an above-average CAGR during the forecast period (2017-2023).
Additive masterbatch is used to improve the properties such as anti-static, ultraviolet resistance, flame retardant, antifouling, etc. in plastics. Increased use of plastic in consumer goods, automotive, constructions is making a positive impact on the market.
Global Additive Masterbatch Market: Segmental Overview
The segmental analysis of the market has been conducted on the basis of end user industry, carrier resin and type.
Based on end-use industry, the market has been segmented into automotive, agriculture, consumer goods, packaging, building & construction, and others. The packaging sector is expected to remain high profitable during the assessment period. Based on carrier resin, the market has been segmented into polystyrene, polyvinyl chloride (PVC), polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP) and others. The polyethylene segment is expected to witness a healthy growth during the forecast period. Based on type, the market has been segmented into anti-oxidant additive masterbatch, flame retardant additive masterbatch, antimicrobial additive masterbatch, and others. Antimicrobial segment is expected to retain its leading position over the forecast period. Antimicrobial masterbatch additives are increasingly used in plastic products.
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Global Additive Masterbatch Market: Regional Segmentation
Key regions discussed in the report include Asia Pacific, Latin America, the Middle East & Africa (MEA), Europe and North America. Among these, the market in APAC is expected to remain highly attractive during the assessment period. In addition, the market in APAC is expected to exhibit the fastest CAGR during the forecast period. Robust industrial growth and rapid urbanization is linked with the impressive market expansion in the region. The chemical industry is witnessing a tremendous boom in the region, much it can be accredited to China. In addition, favourable government policies (tax wavers, incentives, etc.) coupled with the growth of the manufacturing sector in countries such as China, Taiwan, Vietnam and India is reflecting favourably in the market.
North America is also viewed as an important market for additive masterbatch. High consumption of chemicals, rebound in construction, and strong growth in other end-use industries like automotive and packaging are some of the factors supporting the market growth in the region. The U.S. construction sector has found stability in recent years, which is marked by initiation of new projects and increased renovation activities.
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Market growth in expected to remain steady in Europe during the forecast period. Competition for emerging markets and lacklustre economic performance has dampened investor confidence. However, the recent improvements in many European markets have signal towards the much stable growth for the Europe chemical sector in the forthcoming years. The Europe additive masterbatch market is projected to demonstrate a CAGR of 6% between 2017 and 2023.
Clariant AG (Switzerland), PolyOne Corporation (U.S.), Plastiblends India Ltd. (India), DOW Corning Corporation (U.S.), Ampacet Corporation (U.S.), A. Schulman, Inc. (U.S.), Plastika Kritis S.A (Turkey), RTP Company (U.S.), Polyplast Muller GmbH (Germany), and Plastika Kritis S.A. (Greece) are some of the top-notch companies operating in the global market for additive masterbatch.
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