Increasing Adoption
for Biodegradable Masterbatches to Encourage Growth
Uses for biodegradable
masterbatch in everyday consumer goods are growing rapidly, especially in the
food packaging sector. An additive masterbatch of bio-based resins made of
soybean, coffee, castor, wood pulp, sugarcane, plant seeds and corn are used in
the packaging industry. The disposal of carrier polymers derived from petroleum
is a significant challenge in conventional masterbatch. The degradation of
conventional polymers takes several hundred years. When manufacturing food
plastics, use masterbatch that complies with US-FDA requirements. The packaging
industry's masterbatch market will have an opportunity as a result of the
stringent regulations and demand from developed countries. The development of
more expensive goods with better quality and performance has also had an impact
on price hikes. In addition, the development of bio-based masterbatches for a
range of applications, significant Investments and cutting-edge technologies
are increasing the price of manufacturing masterbatches and raising product
pricing. The demand for plastic items is anticipated to increase in the future
due to the trend of urbanisation. Additionally, urbanisation will result in a
significant increase in infrastructure, which will boost the building and
construction industry and increase demand for high-performance plastic
products.
Increased Demand
from The Packaging Sector Leads to Market Expansion
Increasing sales rates also
encourage organised retail growth, boosting demand for innovative and appealing
packaging. Food and beverages are among the fastest growing retail sectors.
Plastic packaging helps to improve food quality and increases its shelf life,
therefore growth in this sector is anticipated to boost its usage. Packaged
food is expected to be a fast-growing market. In addition to food and
beverages, pharmaceuticals are a major user of packaging. Pharmaceutical
companies are increasingly depending on packaging and labelling to maintain
their products market, meet new regulations, and protect patients. Furthermore,
due to qualities such as high dimensional stability, moisture barrier, high
impact strength, stress resistance, low water absorption clarity, heat and
flame resistance, and others, plastics have become increasingly important in
pharmaceutical packaging. As a result of growing expertise in food and beverage
packaging, pharmaceutical and personal care and other heavy industrial items, plastic
packaging is rapidly expanding.
Increased Demand
from the Automotive Industry Will Fuel Market Growth
The automotive industry is
flourishing as car increased sales due to rising disposable incomes. 79.4 million
vehicles sold globally in 2022. The global automotive sector is expanding,
mostly due to increased demand for electric vehicles. Plastics are increasingly
being used in the interior and exterior of vehicles. The automobile industry's
demand for lightweight materials encourages metal substitution with plastics.
Color is definitely one of the most important aspects of cars. Masterbatch can
be improved to improve reliability and pliability, as well as to become
corrosion resistant and flame retardant, among other qualities. Plastic's
rising use in the automobile industry is expected to propel the global market.
Masterbatches Market Segmentation
The global masterbatches market is
segmented on the basis of type, carrier polymer and end-users.
On the basis of Type:
·
Solid Masterbatches
o
Functional Additives
o
Color
o
Black
o
White
·
Liquid Masterbatches
o
Functional Additives
o
Color
o
Black
o
White
On the basis
of Carrier Polymer:
·
Polypropylene (PP)
·
Polyethylene (PE)
·
Polyvinyl Chloride (PVC)
·
Polyethylene Terephthalate (PET)
·
Biodegradable Plastics
·
Others
On the basis
of End-Users:
·
Packaging
·
Transportation
o
Automotive
o
Aerospace
o
Marine
·
Cosmetics and Pharmaceuticals
·
Electronics and Electrical
·
Construction
·
Consumer Products
·
Agriculture
·
Others
Raw Material Price
Fluctuations Stymie Market Demand
The primary basic materials used
in Masterbatch production are polymers, titanium dioxide and calcium carbonate.
Polymers account for around half of overall production costs, they act as a
carrier through which colour pigments are administered and are thus crucial.
Because polymers are crude oil derivatives, their prices are as volatile as
crude oil prices. The pricing of key raw materials, such as polymers and other
compounds like titanium dioxide, are naturally volatile. Polymer prices are
highly volatile since they are dependent on the change of crude oil prices. The
major players covered in the masterbatch market report are Cabot Corporation, Plastika
Kritis, Plastiblends, Hubron International., Clariant, Avient Corporation, Masterbatches
S.L., Americhem., Astra Polymers, Jiangsu Pulaike Hongmei Masterbatch Co.,
Ltd., Ampacet Corporation, Penn Color
Inc., PolyOne Corporation, Tosaf Compounds Ltd., RTP Company, Primex Color,
Compounding & Additives, K.D. FEDDERSEN, High Tecnology CONSTAB and
Dainichiseika Color & ChemicalS Mfg. Co. Ltd., among some other
domestic and international players.
Growing Demand in the Construction and
Building Industries Will Drive Market Growth
Asia Pacific occupied the
majority of the market and is expected to retain its dominance during the
forecast period. Packaging demand has been robust in Asia Pacific countries
like India, China, and Taiwan, which is a significant development driver. Consumers
increasing purchasing power and preference for plastic goods are expected to
boost the industry in the region. Aside from that, the consumer products,
packaging, and automotive industries are expanding rapidly, as are the
building and construction and agricultural sectors, which are among the primary
end-use sectors. The European market may expand significantly. The region's
growing demand comes from a variety of end-use sectors, including packaging,
automotive, building and construction, and consumer products. Furthermore,
expanding plastic production and growing preference for lightweight vehicles
are likely to boost growth in the region in the forecast period.
The report provides a detailed
overview of the masterbatches market insights in regions including North
America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and
Africa. The country-specific assessment for masterbatches market has been
offered for all regional market share, along with forecasts, market scope
estimates, price point assessment, and impact analysis of prominent countries
and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates
are also incorporated for every country and region, to provide a detailed view
of the masterbatches market. These Y-o-Y projections on regional and
country-level markets brighten the political, economic and business environment
outlook, which are anticipated to have a substantial impact on the growth of
the masterbatches market. Some key country and region included in the masterbatches
market report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Masterbatches Market Research Report
Covers In-depth Analysis on:
·
Masterbatches market segments
·
Masterbatches market dynamics
·
Masterbatches market value and share analysis
·
Recent trends, restraints, opportunities in masterbatches
market
·
Companies & competition involved masterbatches
market
·
Latest technologies in masterbatches market
·
Supply chain and value chain masterbatches
market
·
Masterbatches market sales and distribution
strategies
Masterbatches Market Growth Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Masterbatches industry trends and developments
·
Potential and country, regions and segments exhibiting
future growth
·
A detailed viewpoint on masterbatches market forecast
by countries
·
Essential information to enhance market position
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