Synopsis of Additive Masterbatch Market
Masterbatch is a liquid or solid additive extensively used for the coloring of plastic and imparting special properties. They are a mixture of additives and pigments that allows the coloring of the raw polymer during the manufacturing process of plastics. Additive Masterbatch enhances the properties of base plastics such as ultraviolet resistance, antifouling, anti-static, and flame retardant among others. The growing replacement of metals with polymers in industries such as automotive, consumer goods, building and construction, and packaging is expected to driving the global market of Additive Masterbatch during the forecast years. The growing industrialization and urbanization in the developing regions throughout the globe is expected to boost the market during the forecast years. The Global Additive Masterbatch is a lucrative market and is expected to expand at an encouraging CAGR during the forecast years.
Among the various type of Additive Masterbatch Market, the antimicrobial is the leading segment of the market and is anticipated to grow at the highest CAGR during the assessed years. This growth is attributed to the increasing demand for antimicrobial Masterbatch Additive in the controlling of microbes in various plastic products. Moreover, the growth in the retail sector has augmented the flow of goods, in turn, adding to the use of antimicrobial additives in the packaging industry. On the basis of the carrier resin polyethylene is the leading segment and is expected to show the same trend during the forecast years. The growing applications of low-density polyethylene, high-density polyethylene in the packaging industry has resulted in the growth of the growth of the polyethylene carrier resin in the packaging industry.
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Some of the prominent players operating in the Global Additive Masterbatch Market are Clariant AG (Switzerland), A. Schulman, Inc. (U.S.), PolyOne Corporation (U.S.), Plastika Kritis S.A. (Greece), and Plastiblends India Ltd. (India), Plastika Kritis S.A (Turkey), DOW Corning Corporation (U.S.), Polyplast Muller GmbH (Germany), RTP Company (U.S.), and Ampacet Corporation (U.S.).
The Global Additive Masterbatch Market is segmented into Type, Carrier Resin and End User Industry.
On the basis of the Type, the market is segmented into antimicrobial additive masterbatch, flame retardant additive masterbatch, anti-oxidant additive masterbatch, and others.
On the basis of the Carrier Resin, the global market is segregated into polyethylene (PE), polypropylene (PP), polystyrene, polyvinyl chloride (PVC), polyethylene terephthalate (PET), and others.
On the basis of the End-Use Industries, the market is further bifurcated into packaging, automotive, consumer goods, building & construction, agriculture, and others.
The Additive Masterbatch Market is segmented across five regions: Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa. Asia Pacific holds a major share of the market and is expected to be the fastest at a considerable CAGR during the review period. The rapid growth of industries and urbanization is fuelling the growth of the Additive Masterbatch Market in the developing countries of Asia Pacific. Moreover, the favorable government regulations, such as incentives and tax benefits, have shifted the manufacturing bases mainly to India and China, which is substantially contributing to the market growth. North America is another dominant region in the market due to the developed end-user industries such as construction, automotive, and packaging among others are significantly driving the market growth. Moreover, the growing renovation and construction activities in the U.S. and Canada is also adding to the use of masterbatch in the construction sector.
Europe is a lucrative market mainly driven by the developed packaging, consumer goods, and automobile sector. The European Additive Masterbatch Market is anticipated to grow at a considerable CAGR of over 6% during the given period 2017-2023. Moreover, the growing use of Additive Masterbatch in the greenhouse plastic films is expected to push the growth of the market in the region further.
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