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Market Research Future (MRFR) has released a new report on the global Color Masterbatch Market. The report takes into account the historical growth trajectory of the global color masterbatch market and the major drivers and restraints operating on the market at present in order to deliver reliable insights into the market’s likely growth trajectory over the forecast period from 2022 to 2030.
Masterbatch is a color additive in polymer manufacturing processes. Masterbatch is a highly concentrated, granulated substance containing color pigments, derived through a heat process similar in principle to the one used to prepare soup bouillon cubes. The highly concentrated carrier resin, called masterbatch, is added to polymers during their manufacturing process and imparts color evenly and effectively. Masterbatch can also be used to deliver other properties to the polymer, such as physical and cosmetic upgrades. The global color masterbatch market has been driven primarily by the growing demand for polymer compounds and the increasing need to make the product technically superior.
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The growth of the packaging industry has been a key driver for the global color masterbatch market, as demand from the masterbatch market is dominated by the packaging industry. The increasing demand for plastic packaging, due to its imperviousness to environmental contaminants and high levels of physical rigidity, has been vital for the global color masterbatch market. Plastic packaging is likely to remain among the most popular packaging materials over the forecast period, as even though it is not an environmentally viable material and presents a serious threat to the ecological wellbeing of the planet, its manifest advantages over other, more naturally oriented forms of packaging have led to the widespread adoption of plastic packaging in a number of consumer-centric industries. The need to ensure the safety of all components of plastics and polymers in terms of their risk to humans and the environment is likely to lead to further exploration into various properties and characteristics of masterbatches over the forecast period.
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Segmentation:
The global color masterbatch market is segmented on the basis of product type, application, and region.
By product type, the global color masterbatch market is segmented into black masterbatch, white masterbatch, standard color masterbatch, additive masterbatch, and others. Among these, black masterbatch is the most popular component and is likely to remain the leading revenue generator in the global color masterbatch market over the forecast period, rising at a CAGR of 5.60% over the forecast period. The black masterbatch segment was valued at USD 1,140 million in 2015 and held a 30% share in the global color masterbatch market.
By application, packaging is likely to emerge as the dominant segment of the global color masterbatch market over the forecast period, followed by automotive, consumer goods and retail, textiles, and others. The packaging segment accounted for a solid 34% share in the global color masterbatch market in 2015 and is expected to exhibit the highest CAGR of 6.42% over the forecast period.
Regional Analysis:
The global color masterbatch market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific on the basis of region.
The global color masterbatch market is expected to be dominated by Europe over the forecast period due to the rapid growth of application industries such as packaging, automotive, and consumer goods. The automotive industry has emerged as a leading consumer of masterbatch in the region due to the growing production of automobiles, the increasing demand for plastics and other polymers in the production of automobiles, and the growing demand for smooth and attractive coloring schemes in automobile design. The consistent color performance provided by masterbatch is likely to drive the color masterbatch market in Europe over the forecast period. The Europe market for color masterbatch was valued at USD 1,330 million in 2015, accounting for 35% of the global color masterbatch market, and is likely to rise at a solid 5.91% CAGR over the forecast period.
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Competitive Analysis:
Leading players in the global color masterbatch market include A Schulman Europe, Polyplast Muller, Hubron, Cabot Plastics International, Clariant Masterbatches, Polyone Corporation, and Tosaf Compounds.
Industry Updates:
In May 2018, Colour Tone launched a new generation of near-infrared (NIR) detectable black masterbatch for easier disposal and recycling post-use.
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