Market Synopsis
The global color masterbatch market is estimated to record a CAGR of 5.45% during the review period. The black masterbatch is available in low-cost pigments, which is likely to drive the global color masterbatch market in 2022. Attributes such as light stability and conductivity are projected to escalate the market for masterbatch market further. Also, there has been a soaring demand for masterbatch from the plastic industry, which is an essential factor of market growth at a global level. Also, there has been surging demand for lightweight materials in various end-user industries is further fueling the demand.
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Further, the benefits of technical properties such as opacity, color consistency, and good dispersion are likely to escalate the market reach. Another important factor in market growth is the growing application of plastics as an alternative to metals in the manufacture of automotive components. In addition, the implementation of strict rules and regulations with respect to emission and the increasing demand from the packaging industry is likely to magnify the market size.
However, the concerns regarding the heavy prices of color masterbatch, such as large equipment, production space, and related expenses, are anticipated to hamper the market growth. However, masterbatch is gaining momentum as a capable coloring method, which will accelerate the market size.
Regional Analysis
The global market for color masterbatch is projected to grow significantly during the forecast period. An exhaustive evaluation of regions such as Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa has been conducted. According to the research, the global market is anticipated to be dominated by the APAC region, followed by Europe and North America. In the APAC region, the market is primarily led by China and India owing to the increasing packaging, transportation, consumer products, electrical and electronics, and agricultural industries. The region is witnessing a high demand for plastics in the end-user industries, which is anticipated to drive the regional market. In Europe, the market is progressing due to the growing demand for lightweight vehicles. Besides, the implementation of strict rules and regulations on carbon dioxide is projected to escalate the regional market. Also, the demand for fuel-efficient vehicles is another pivotal factor in expanding the market. In North America, the market is expanding due to the growing need for specialized colors owing to the changing preferences and lifestyles, eventually leading to market growth. Also, the demand for packaged food and personal care product is another crucial factor leading to market growth. On the contrary, MEA and Latin America are anticipated to witness steady growth during the review period.
Market Segmentation
The global Color Masterbatch Market Size can be segmented on the basis of carrier resin, application, type, and geography.
On the basis of carrier resin, the global color masterbatch market can be segmented into polypropylene, polyethylene, polystyrene, and others
On the basis of application, the global color masterbatch market can be segmented into building & construction, packaging, consumer goods, agriculture, automotive, and others.
On the basis of type, the global color masterbatch market can be segmented into white masterbatch, standard color masterbatch, black masterbatch, additive masterbatch, and others.
On the basis of geography, the global color masterbatch market can be segmented into Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Key Players
The distinguished entities of the global color masterbatch market are A. Schulman, Inc. (US), Clariant AG (Switzerland), Polyone Corporation (US), Ampacet Corporation (India), Plastiblends India Ltd (India), Penn Color, Inc. (US), Tosaf Group (Israel), RTP Company (US), PolyOne Corporation (US), and BASF SE (US).
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