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The global masterbatch market size was valued at USD 5.60 billion in 2021 and is expected to reach USD 9.65 billion by 2030, expecting to expand at a compound annual growth rate (CAGR) of 6.3% during forecast period.
The replacement of metal with plastics in the end-use industries including automotive and transportation, building and construction, consumer goods, and packaging is expected to be a key factor driving the global market over the forecast period. The product is available in solid and liquid forms and is used for imparting color and enhancing useful properties of polymers such as antistatic, antifog, antilocking, UV stabilizing, and flame retardation. Various types of carrier polymers such as polypropylene, polyethylene, polyvinyl chloride, and polyethylene terephthalate are preferred along with the product for use in injection molding and extrusion processes.
Gather more insights about the market drivers, restrains and growth of the Global Masterbatch Market
The U.S. market size was valued at USD 877.38 million in 2021. The rising demand from the packaging industry in the U.S. is expected to boost market growth. There has been considerable growth in the packaging market in the U.S. on account of growth in the e-commerce business. The consumer goods manufacturers are providing attractive product packaging to attract a large number of customers to boost sales of their products. Different types of masterbatch are used in combination with polymers to make attractive packaging, which is projected to increase the product demand over the forecast period.
The increasing focus on the use of plastic in the automotive industry to reduce the vehicle weight and thereby improve the fuel efficiency is driving the demand for different types of plastic that use the product for imparting functional properties. The emerging economies of the Asia Pacific such as China, India, and Japan have witnessed an increase in automobile production activities. This is further expected to boost the demand for plastic components in the region over the forecast period. However, stringent environmental regulations related to the nonbiodegradability of plastics pose a challenge to the market as such regulations affect the adoption rate of plastics, which, in turn, has implications on the demand for the product.
Based on Type Insights, the market is segmented into white, black, color, additive and filler
Based on Carrier Polymer Insights, the market is segmented into polypropylene (PP), polyethylene (PE), polyvinyl chloride (PVC), polyethylene terephthalate (PET), biodegradable plastics and others
Based on the End-use Insights, the market is segmented into packaging, building & construction, consumer goods, automotive & transportation, agriculture and others
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa
The market is fragmented with the presence of several global and regional players. Key players in the market comply with the regulatory policies and are engaged in research & development activities to develop innovative products. Most of the key industry players are integrated across the value chain posing entry barriers for new market players.
Some prominent players in the global masterbatch market include:
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