The increasing use of masterbatch in various end-use industries such as packaging, building & construction, consumer goods, automotive, and agriculture, is expected to augment market growth over the forecast period. In addition, properties such as excellent wear resistance and corrosion resistance imparted by masterbatch are expected to boost market growth. The growing emphasis on improving the aesthetics in building & construction, automotive, packaging, and consumer goods segments in developed economies, such as Europe and North America, owing to the increased spending capability of consumers is also expected to trigger market growth over the forecast period.
Rising investments to develop innovative masterbatch solutions to suit various end-use industries are expected to drive demand over the forecast period. With the European Union’s mission to reduce the greenhouse gas emission, and thereby improve vehicle fuel efficiency, there is an increase in the demand for plastics to replace metals so as to reduce the overall vehicle weight. Growth in the demand for plastics is in turn expected to result in increased demand for masterbatch over the forecast period.
The demand for masterbatch will further be driven by the growth in flexible packaging in developed economies including the U.S., Germany, the UK, and France. A. Schulman, Inc. expanded its production capacity for color masterbatches with the addition of three extruders, one each in Poland, Italy, and Hungary facilities. The expansion of capacity is expected to enable the company to serve the increased demand in the European region. Other companies in masterbatch business are also undergoing expansion on account of increased demand from developed economies.
In addition to these initiatives, companies such as Clariant are investing research and development of CESA-nucleant masterbatches to improve the performance of homopolymer, copolymer, and random polypropylenes. The polypropylene packaging is suitable for food producers & packagers as it provides benefits including transparency, light weight, and heat tolerance. These factors together are anticipated to boost the demand over the forecast period.
Key players in the market have strengthened their presence across the value chain by increasing their spending on R&D, partnerships, and acquisitions with large companies. Some of the key market players in the market are A. Schulman, Inc., Ampacet Corporation, Cabot Corporation, Clariant AG, Plastiblends India Ltd., and Global Colors Group.
In-depth report on global masterbatch market by Grand View Research:
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