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Masterbatches Market
Asia Pacific was the leading region, and accounted for over 45% of the global demand of plastics in 2014. Rapid industrialization and a growing population have contributed to the economic growth in China and India. With the increasing workforce and subsequent industrial infrastructure development in the region, many industries, such as automotive, construction, electrical and electronics, and consumer appliances, have witnessed a rapid growth of masterbatches in various applications.
Latin America is expected to witness a significantly high growth rate in terms of consumption of plastics over the forecast period due to its increased usage in construction in Mexico and Brazil to meet industrial as well as public infrastructure needs. The rapidly evolving transportation sector and rising automotive production in the region are expected to further complement the Latin American masterbatches market over the forecast period.
The demand for plastics and masterbatches is growing rapidly in the construction sector, in insulation materials, floorings, performance safety windows, storage tanks, pipes, doors, and cables. Growing commercial and residential projects in developing economies are driving infrastructural development. Moreover, rising consumer awareness about attractive interiors is driving the demand for masterbatch material types.
The thriving construction industry is likely to balance the masterbatches market in the forecast period. This industry would create a significant demand in terms of growing end use application in the market. The growing use and consumption of PVC and CPVC in numerous products, such as wires and cables, pipes, wood PVC composites, water proofing membranes, food, and medicinal packaging, results in the growth of the global masterbatches market.
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Among all the application type, packaging is estimated to account for just under 34% value share in the global masterbatches market followed by consumer products with about 22% value share by 2025. Transportation is projected to expand at a CAGR of 6.3% over the forecast period to account for 8.7% value share by 2025.
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Get a Customized VersionClariant AG has higher share in global Masterbatches market i.e. more than 15%. The company is presently dominating the global market in additive, color, white and black masterbatches products and solutions. The company also has significantly high demand for masterbatches across the geographical regions such as APAC, Europe, North America, Latin America, and MEA.
PolyOne Corporation and Ampacet Corporation has market share of 14.3% and 14.1% respectively in global Masterbatches market. The company dominates the developed regions such as North America, Europe and Japan with its customized Masterbatches and certification.
Other manufacturers accounts for 14.9% share in overall masterbatches market. Other manufacturers includes Standridge Color Corportation, Dongguan, GreenTech Plastics Co., Ltd, Marval industries, Inc., RTP Co.,Plastika Kritis S.A. (Greece) Uniform Color Company, and Techmer.
In terms of volume, the global Masterbatches market is anticipated to expand at a CAGR of 4.5% to account for 9,001,304 tons by 2025 end as per the likely scenario. The factors taken into consideration such as the production technologies and stringent regulations to forecast the market may show a different growth rate than the assumed scenario. Hence, there can be a conservative scenario and an optimistic scenario as per the unforeseen changes in the growth rate of considered factors.
The raw material sourcing import duties for the market sizing can get relaxed to some extent in future and owing to this the market size can grow more than expected showing an optimistic scenario by expanding at a CAGR of 5.8%.
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Key factors driving the masterbatch market growth include the increasing use of plastics in automotive applications as a replacement for metals and the growing demand for plastics in the various end use industries.
Cabot Corporation, Tosaf, Avient, Clariant and Americhem are the major companies operating in the Masterbatch Market.
Availability of low quality and cheaper products
Polymer are segmented as PP, LDPE &LLDPE, HDPE, PVC, PET, PUR, PS, and Others. PPis amongst the most widely used polymer type.
