Quick Summary:
In the Polymer Industry, a critical component that enhances aesthetic appeal and improves overall mechanical properties is a masterbatch. The global masterbatch demand has evidenced significant growth, particularly with a surge in requirement from the automotive and construction sectors. This critical shift is a result of the industry's move towards replacing traditional metal structures with polymer materials, offering superior and enhanced properties. In turn, this creates a predictable boom in the masterbatch market.
Pioneers in the industry include Avient (PolyOne) Corporation, Basell Polyolefins, and Cabot Corporation, amongst others, paving the way for innovation and growth in the field. The Asia Pacific region, in particular, dominates the global consumption share of masterbatch, a trend predicted to continue. On the other hand, North America is likely to see significant growth due to increased emphasis on developing eco-friendly polymers and masterbatches. Despite the availability of cheaper, low-quality materials, the industry is rigorously pursuing quality over compromise, solidifying the masterbatch market as a promising sphere for potential investors and stakeholders.
The Global Masterbatch demand stood at 5.8 Million Tonnes in 2022 and is forecast to reach 8.66 Million Tonnes by 2032, growing at a healthy CAGR of 4.10% until 2032.Global Masterbatch Market Has Witnessed a Remarkable Growth Rate in the Historical Years and is Expected to Trace a Similar Trajectory with a CAGR of 5.54% During the Forecast Period.
A masterbatch is an additive that enhances the aesthetics of polymers along with improvising their mechanical properties. Masterbatch is bifurcated into four different types depending upon the aesthetics and properties required in the downstream products. Since a large share of masterbatch is consumed mainly in polymer production, there is a consistent increment in masterbatch demand from the automotive and construction industry. As players are continuously replacing the traditional metal structures with polymer materials due to their superior properties, significant growth in the masterbatch market can be expected in the coming years.
Availability of cheap and low-quality materials to produce plastic at reduced costs can act as a major restraint for the growth of the masterbatch market. Besides, a ban on single-use plastics due to pollution concerns can impact the steady growth of masterbatch in the coming years.
The demand for masterbatch has increased ever since the outbreak of COVID-19, following the unprecedented rise in demand for polymers for plastic packaging amidst the fears of contagion amongst the people. Although the masterbatch consumption was negatively affected in the construction and automotive industry due to the drastic fall observed in the end-user sectors in the first half of 2020. However, in the latter half of 2020, the demand for Masterbatch was bounced back at a substantial pace following the resumption in the industrial operations and construction activities after the relaxation in lockdown coupled with the efforts of various governments to revive their respective sputtering economies.
Asia Pacific region dominates the consumption share of masterbatch globally and is expected to continue being the largest consumer in the forecast period following the rapid industrialization and shift in European manufacturing houses to Asia due to comparatively less production costs. Furthermore, North America is likely to observe a substantial increase in the demand for Masterbatch, backed by the enhanced stress on the development of eco-friendly polymers and masterbatches in compliance with government norms.
Increasing demand for biodegradable masterbatches in the food-grade packaging industry is paving way for the entry of new players in the domestic market. On 1 July 2020, PolyOne Corporation announced the acquisition of the masterbatch businesses of Clarinet Chemicals India Limited and Clariant Corporation. Post the acquisition of the two renowned enterprises, PolyOne Corporation also announced that it will now be referred to as Avient Corporation.
Some of the leading manufacturers operating in the global masterbatch market include Avient (PolyOne) Corporation, Basell Polyolefins, Cabot Corporation, Plastiblends India Pvt Ltd, Ampacet Speciality Product Pvt. Ltd, M S Polymer-Technik Elbe Gmbh, Tosaf Group, Ingenia Polymers Corporation, Changzhou Hongmei Plastic Masterbatch Co., Ltd., Hubron International, and others.
Years Considered for this Report:
- Historical Years: 2015 - 2021
- Base Year: 2022
- Estimated Year: 2023
- Forecast Period: 2024 - 2032
Objective of the Study:
- The primary objective of the study was to evaluate and forecast Masterbatch capacity, production, demand, inventory, and demand-supply gap globally.
- To categorize Masterbatch demand based on type, end use and region.
- To identify major companies operating in the global Masterbatch market.
- To identify major, deals and expansion plans in the global Masterbatch market.
To extract data for the global masterbatch market, primary research surveys were conducted with Masterbatch manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, the publisher was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, the report analyzes various end user segments and projected a positive outlook for Global Masterbatch market over the coming years.
The publisher calculated Masterbatch demand globally by analyzing the historical data and demand forecast which was carried out considering imported styrene prices, a monomer used for production of Masterbatch. The publisher sourced these values from industry experts and company representatives and externally validated them by analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by the publisher.
Key Target Audience
- Masterbatch manufacturers and other stakeholders
- Organizations, forums and alliances related to Masterbatch distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Masterbatch manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report, the Global Masterbatch market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:Attribute
Details
- Market size volume in 2022 - 5.80 million Tonnes
- Market size volume in 2032 - 8.66 million Tonnes
- Growth Rate - CAGR of 4.10% from 2023 to 2032
- Base year for estimation - 2023
- Historic Data - 2015-2022
- Forecast period - 2024-2032
- Quantitative units - Demand in thousand tons and CAGR from 2023 to 2032
Report coverage
Segments covered
1.Type: (Black, White, Color and Additive)2.End-Use: (Packaging, Automotive, Consumer Goods, Construction and Others)
3.Distribution Channel:(Direct Sales & Indirect Sales)
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & AfricaKey companies
Avient (PolyOne) Corporation, Basell Polyolefins, Cabot Corporation, Plastiblends India Pvt Ltd, Ampacet Speciality Product Pvt. Ltd, M S Polymer-Technik Elbe Gmbh, Tosaf Group, Ingenia Polymers Corporation, Changzhou Hongmei Plastic Masterbatch Co., Ltd., Hubron International, and others.
Available Customisations
With the given market data, the publisher offers customizations according to a company’s specific needs.Table of Contents
1. Industry Market Size
2. Capacity By Company
3. Capacity By Location
4. Plant Operating Efficiency [Quarterly Update]
5. Production By Company [Quarterly Update]
6. Demand by End- Use [Quarterly Update]
7. Demand by Type
8. Demand by Region
9. Demand by Sales Channel (Direct and Indirect)
10. Demand-Supply Gap
11. Company Share
12. Manufacturing Process
14. Pricing Analysis & Forecast
Methodology
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