Masterbatch or MB is a highly concentrated mixture of pigments or additive or both, which acts as an additive for plastics of polymers. It is majorly used for adding colors to the plastics, called color masterbatch, while another types of masterbatch are used for imparting some important physical properties to enhance the performance of plastic called additive masterbatch. The prominent factors driving the growth of the Global Masterbatch Market are rapid urbanization, growing industrialization and increasing standard of living in emerging countries. Moreover, growing use of the packaged food and other retail products is anticipated to boost the demand for the masterbatch. This helps to address many concerns regarding unhealthy packaging such as contamination of contained food.
However, the major factor likely to hamper the growth of the market is the stringent government regulations in place to limit the production of the non-biodegradable materials.
Market Segmentation
The Global Masterbatch Market is broadly segmented on the basis of type, polymer type, end-use industry, and region.
Based on the Type, the market is classified into color, additive, black, white, and filler. Wherein, the color masterbatch segment is projected to expand at the highest CAGR. This growth trend of this segment is attributed to the rising demand for the consumer goods, retail product packaging and indicative packaging. The additive is another important segment, driven mainly by increasing demand from consumer goods applications.
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By the Polymer Type, the Global Masterbatch Market is divided into polypropylene (PP), polyethylene (PE), Polyvinylchloride (PVC), Polyethylene Terephthalate (PET), polystyrene (PS), and others. Among them, the polyethylene (PE) segment is holding a major share of the market on account of its easy availability, simple manufacturing process, and relative affordability. Apart from this, huge demand from the major application, the, i.e. packaging is likely to propel the growth of this segment in coming years further.
On the Basis of the End Use Industries, The Global Masterbatch Market is categorized into packaging, automotive, building & construction, consumer goods, agriculture, textile, and others. The packaging industry is the fastest growing segment among them, which is attributed to the shifting consumer trends towards the use of packaged food and other retail products.
Regional Analysis
There are five key regions in which the Global Masterbatch Market is spanned across: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The Asia Pacific is dominating the market and is estimated to hold over 40% share of the Global Masterbatch Market. The region is expected to retain its dominance in terms of both value and volume of the masterbatch. This growth trajectory of the region is attributed to the growing construction activities in this region. Apart from this, increasing demand for lightweight automotive parts from the established automotive & transportation industry in this region is projected to boost the demand during the years to follow. Following the Asia Pacific, Europe is the second largest market, in terms of the market size. This is attributed to the increasing demand for passenger cars from the vast middle-income strata of the society around the world. Germany is likely to hold a major share of the regional market on account of the growing demand from the established automotive industry.
North America is another important region in the Global Masterbatch Market, following closely to Europe. The region is holding a relatively limited share of the Global Masterbatch Market. The U.S. is the largest market in this region due to the considerable growth in automotive, packaging and consumer goods industry. The Middle East & Africa and Latin America are also witnessing considerable growth during the forecast period owing to the huge growth potential of these regions.
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