Masterbatch Market Size, Share & Trends Analysis Report By Type (Black, Filler), By Carrier Polymer (Polypropylene, Polyethylene), By End-use, By Region And Segment Forecasts, 2023 - 2030

Report Overview

The global masterbatch market size was valued at USD 4,855.35 million in 2022 and is anticipated to exhibit a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. 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 in 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.

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. In the U.S., there are approximately 16,806 plastic manufacturing facilities spread across 50 states. The increasing use of plastic in consumer goods, building & construction, automotive, and other sectors is anticipated to boost the growth of masterbatch in the country in the forecast period. 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 in the forecast period.

Type Insights

Black type segment dominated the market with a revenue share of 28.3% in 2022. This high share is attributed to the growth in demand for black masterbatch is attributed to the high demand for tires, PVC containers, and other products for application in the automotive and transportation, building and construction, agriculture, and packaging industries. The growing need for various agricultural products such as drip irrigation tubing and tape, greenhouse films, shade cloth, and geomembranes is also projected to boost the market growth over the forecast period.

The color on products is used to differentiate the products in the market, which is an important factor driving the demand for color masterbatches in the forecast period. In addition to this, color masterbatches provide customization alternatives to manufacture products with attractive visual appearance.

Carrier Polymer Insights

Polypropylene (PP) carrier polymer segment dominated the market with a revenue share of 26.7% in 2022. It is attributed to the demand for polypropylene as a carrier polymer is projected to increase owing to its excellent mechanical strength and flexibility offered by it. Polypropylene also enhances the quality of surfaces. It is lightweight and therefore, is used to replace metal components in the automotive industry. All these factors are expected to fuel the growth of the polypropylene segment in the forecast period.

Germany as a major manufacturing hub is expanding its production facilities, which is expected to increase the demand for polyethylene. The presence of a large number of plastic component manufacturing companies within the European region, which implies the easy and cost-effective availability of plastics, is a key factor driving the market in the region.

Polypropylene is being extensively used in consumer goods, which has been a contributing factor to the growth of the product demand. It has antimicrobial and antibacterial properties, making it useful in manufacturing various products related to building and construction. The polypropylene manufacturers are shifting the focus from synthetic to biobased due to environmental concerns, which is projected to drive the market over the forecast period.

End-Use Insights

Packaging masterbatch end-use segment dominated the market with a revenue share of 26.9% in 2022. Its high share is attributable to the packaging industry includes retail, industrial, and consumer packaging, which further includes flexible and rigid options. A rise in the number of city inhabitants who require packaged goods is resulting in the increased demand for packaging. Consumers need packaging that is convenient, sustainable, flexible, offers protection and is easily traceable. As plastic packing fulfills all these needs, its demand is expected to grow, which is, in turn, projected to result in the growing demand for the product. There is the immense growth potential for the packaging industry in emerging economies such as India and China.

The rise in infrastructural activities in these countries has resulted in the growing demand from the building and construction sector, which may boost the product demand. The development of various government schemes such as Make in India and Smart City plans is also projected to ascend the demand for the product in the forecast period.

Regional Insights

Asia Pacific dominated the market with a revenue share of 41.6% in 2022 owing to the presence of a number of end-use industries including automotive and transportation, packaging, building and construction, and consumer goods. The growth of these industries is expected to fuel the demand for the product over the next eight years.

In terms of revenue, Europe was the second-largest regional market in 2022 and the trend is projected to continue in the forecast period. The rapid growth of the packaging, consumer goods, and automotive and transportation industries, coupled with the growing building and construction and agriculture sectors in Asia Pacific, which are among the major end-use sectors using the product, is projected to be a major market driver.

Key Companies & Market Share Insights

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. For instance, Hubron International became a corporate member of The Graphene Council, which is the world’s largest community for graphene researchers, developers, producers, academics, and scientists. Since Hubron International is involved in masterbatch/compounding of graphene materials and has technologies available for the processing of 2D materials, the growing usage of 2D materials in the thermoplastic arena for providing lightweight products is expected to strengthen Hublon International’s position in masterbatch market. 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:

• A. Schulman, Inc.

• Ampacet Corporati

• Cabot Corporation

• Clariant AG

• Hubron International Ltd.

• Penn Color, Inc.

• Plastiblends India Ltd.

• Global Colors Group

• PolyOne Corporation

• Tosaf Group 

Masterbatch Market Report Scope

Global Masterbatch Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global masterbatch market report based on type, carrier polymer, end-use and region:

• Type Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

  • White

  • Black

  • Color

  • Additive

  • Filler

  • Biodegradable

• Carrier Polymer Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

  • Polypropylene (PP)

  • Polyethylene (PE)

  • Polyvinyl Chloride (PVC)

  • Polyethylene Terephthalate (PET)

  • Biodegradable Plastics

  • Others

• End-Use Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

  • Packaging

  • Building & Construction

  • Consumer Goods

  • Automotive & Transportation

  • Agriculture

  • Others

• Regional Outlook (Revenue, USD Million; Volume, KiloKilotons; 2018 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa