Dublin, Feb. 19, 2021 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
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% between 2020 and 2025.
Factors such as widely preferred coloring method adopted by manufacturers over powders, pastes, and fluid additives will drive the masterbatch market. The major restraint for the market will be the availability of low quality and cheaper products. However, the increasing demand for biodegradable masterbatch will act as an opportunity for the market.
"Color masterbatch is the largest type for masterbatch in 2019"
The color segment is estimated to account for the largest share of the market. The growing need for color masterbatch in the various applications to increase the aesthetic appeal of the product is driving the color masterbatch market. The technological advancements in color masterbatch have also aided in developing a wide range of colors and improving the efficiency of end-use products.
There are different type of color masterbatches namely, standard color, specialty color, and tailor-made color. Standard color are basic colors for the plastics such as red, blue, green, and yellow. Specialty color masterbatch is mostly used for high visibility such as metallic, pearlescent, fluorescent, and phosphorescent. Finally, tailor-made color is customized color based on consumer demand.
"PP is estimated to be the largest polymer in masterbatch market between 2020 and 2025."
PP is a thermoplastic polymer having lower density and higher softening point as compared to PE. PP is used in rigid packaging, which includes caps & closure of PET bottles and thin-walled containers of yogurt. It is also used in automotive, flexible packaging, consumer products, fibers, BOPP film, carpets, and reusable products such as containers, papers, laboratory equipment, furniture, and medical instrument.
PP-based masterbatch offers greater efficiency, smoothness, and dispersion ability to the applications of plastic goods. The increasing consumption of PP in the packaging, textile, and building & construction industries is attributed to its developments in APAC. The growth in the use of PP masterbatch is mainly attributed to its demand in the growing end-use industries of APAC.
"Packaging is projected to account for the largest share of the masterbatch market between 2020 and 2025."
Packaging is widely for the protection and transportation of goods utilized at the retail, industrial, and institutional levels. The availability of a wide variety of plastics and their adherence to regulatory standards make them the most extensively used material for packaging. Plastics can be modified in various shapes. It also provide better aesthetic appeal to the packaging, as they provide the required color, shape, size, utility, printing, weight, and protection.
Growth in the use of plastics in the packaging industry is driving the demand for masterbatch. The growing importance of color in marketing and branding activities is further fueling the growth of the masterbatch market. Packaging is of two kinds the rigid packaging and the flexible packaging. The flexible packaging will take a greater market share for its flexible property and its nature to retain moisture and fragrance. Flexible packaging is mostly used for frozen food, beverage, pharmaceutical products, dairy products, shopping bags, and confectionary packaging.
"Asia-Pacific is expected to be the largest masterbatch market during the forecast period, in terms of value and volume."
APAC is the largest consumer of masterbatches in the automotive application and is expected to dominate during the forecast period. The increasing automobile production facilities in the region and shift of European automobile manufacturers to low-cost markets of Asia are expected to support the growth of the masterbatches market in automotive application. APAC ranked first in terms of vehicle production, thus contributing to the increased demand for masterbatch in the automotive sector.
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).
Supply Chain Analysis
Masterbatch Market: Realistic, Pessimistic, Optimistic, and Non-COVID-19 Scenarios and Non-COVID-19 Scenarios
Trade Data Statistics
For more information about this report visit https://www.researchandmarkets.com/r/ianlve
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900