WiseGuyReports published new report, titled “Global Color Masterbatch Market”
Global color masterbatch market information: by type (white, standard, black, additive, others), by application (consumer goods & retail, textile, packaging, automotive, others) and by region - Forecast till 2027
Market Synopsis of Global Color Masterbatch Market
Color masterbatch is a concentrated mixture of additives and pigments that is used to impart color and enhance properties such as antifog, antilocking, UV stabilizer and flame retardant. The growing demand for special effects and color-distinguish products among packaging industry are anticipated to drive the overall market. The major advantage of color masterbatch is good color dispersion across polymer materials which enhance both physical and mechanical properties of the applied material. Thus, increasing demand of color masterbatch as substitute for compounds into engineering polymer markets is further expected to boost the growth of overall market.
According to MRFR analysis, the global color masterbatch witnessed exponential growth and is projected to reach USD 7,268.3 million by 2027 with an estimated CAGR of 5.88% during forecast period. Rise in packaging sector on account of growth in e-commerce business is also expected to drive the global color masterbatch market. Moreover, increasing demand for ready-to-eat products among millennial is anticipated to augment the market growth. Manufacturers are investing on R&D and innovative ideas for product packaging in order to attract more customers, thereby positively influencing color masterbatch consumption. However, volatility in raw material prices and imbalance in demand and supply of plastic material is hindering the market growth. Additionally, stringent regulations related to emission of harmful gases in environment is set to challenge industry participants over the forecast period.
The replacement of metal by plastic polymer in various end-use industries such as automotive, construction, packaging and consumer goods are likely to boost the global color masterbatch market. Automotive emerged as the leading end-use industry and accounted for over 28% of the overall market share and is projected to reach USD 2,089.6 million by 2027. Increasing automotive production and sales in the emerging economies of Asia Pacific and Latin America is set to drive the growth over the forecast period. Over the years, there has been an immense increase in the use of lightweight plastic and polymer-based components in the automotive industry to reduce the emission and vehicle body weight. Countries like China, Germany, and the U.S. has registered increase in production of lightweight vehicles, thus directly influencing the growth of color masterbatch demand. In addition, rising usage of colored polymers for electronics industry can help manufacturers to increase their purchase of raw material of color masterbatch.
Global Color Masterbatch Market Share, by Application, 2016 (%)
The global color masterbatch market is segmented into five key regions Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among them, Europe accounted for the largest market share in 2016, and is projected to grow at the highest CAGR of 5.91% to reach USD 2,551.5 million by the end of 2027. Rising automotive production in countries such as Germany and Spain among others coupled with cost effective availability of plastic is a key factor for regional market growth. Asia Pacific is also slated to witness significant growth and accounted for 29.9% of the overall market share in 2016. Rapid urbanization leading to changing consumer lifestyle is expected to augment the global color masterbatch market. Moreover, rise in construction & infrastructure projects in India, Brazil and Indonesia is further projected to drive the product demand over the forecast period. North America is another significant region in the global color masterbatch market.
Growing packaging sector including retail, industrial and consumer packaging that is convenient, sustainable and flexible are driving demand for plastic which inherently drives color masterbatch market demand in the U.S. Latin America and Middle East & Africa are estimated to grow at a moderate rate during the forecast period.
The global color masterbatch market is segmented on the basis type, application and region.
On the basis of type the market is divided into white masterbatch, standard masterbatch, black masterbatch and additive masterbatch among others.
By application, the market is segmented into consumer goods & retail, textile, packaging and automotive among others.
Geographically, the global color masterbatch market is spanned across: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The prominent players operational in the global color masterbatch market are A Schulman Europe, TOSAF Compounds, Polyplast Müller, Polyone Corporation, Hubron, Clariant Masterbatches and Cabot Plastics International among others.
Global color masterbatch market is projected to reach USD 7,268.3 million by 2027 with CAGR 5.88% during review period of 2016-2027. Europe was the leading region in 2016 and is expected to grow at a CAGR of 5.91% owing to huge automotive manufacturing base and large number of plastic component manufacturing industries. Asia Pacific accounted for second largest market in the global color masterbatch. This is attributed to growing demand of color masterbatch in building and construction sector. Color masterbatch market is a fragmented market, however, tier 1 and tier 2 manufacturers dominate the market. Major players are incorporating strategies like expansion and acquisition to meet the global demand. The key players involved in such strategies are A Schulman Europe, Clariant, Cabot plastic international and Polyplast Muller.
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