The global masterbatch market share size is likely to reach USD 16.35 billion by 2026 owing to the rising number of building and construction activities worldwide. Masterbatches are liquid or solid additive used for painting or for imparting various properties to the plastics. Coloring Masterbatch are utilized for coloring or shading plastic items. It can also be used for conveying properties such as UV Stabilizer, antioxidant, effect, energy, and bio-degradable.
Rise in Demand for Plastic from the Pharmaceutical Industry for Packaging will Bolster Growth
Various factors are responsible for the global Masterbatch market growth. These include the rise in construction activities for all residential, commercial, and industrial purposes, increasing demand for automobiles, especially lightweight vehicles, and the increasing preference for plastic goods worldwide. On the contrary, factors such as the fluctuating price of raw materials such as titanium dioxide, polymers, and others with a high volatile nature may pose a major challenge to the overall market. Nevertheless, increasing demand for plastic packaging from sectors such as food and beverage and pharmaceuticals are likely to create lucrative growth opportunities for the market in the coming years.
Asia Pacific to Continue Dominance with Increasing Consumer Expenditure on Infrastructural Development
In 2018, Asia Pacific emerged dominant in the market with a revenue of USD 3,998.14 Million. This is attributed to the high demand for packaging from key economies such as China, India, and Taiwan. Besides this, the rise in consumer expenditure on power and the increasing demand for plastic goods will also help promote the regional market in the forthcoming years. Furthermore, the rapid growth of packaging, consumer goods, and automotive companies and the rise in agriculture sectors is anticipated to help this region continue dominating the market in the coming years.
On the other side, the market in Europe will witness remarkable growth on account of the rising demand from industries such as automotive, building and construction, and the rising popularity of lightweight vehicles in the region.
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List of Masterbatch Market Manufacturers include:
- Ampacet Corporation
- PLASTIKA KRITIS S.A.
- Hubron International
- Penn Color Inc.
- Schulman, Inc.
- Cabot Corporation
- Other Players
Fragmented Nature of Market will Intensify Competition
The global Masterbatch market enjoys a fragmented nature of the market owing to the presence of various players both small and medium-sized. Companies are aiming at a large network of distribution and providing a good supply chain with regulatory expertise. Other players are engaging in collaborative efforts such as joint ventures, partnerships, mergers and acquisitions, contracts and agreements, and others to gain a competitive edge in the market on the one side and earn attracting revenue on the other.