The global additive masterbatch market is expected to hold a significant growth in the market where it is estimated that the additive masterbatch market revenue would be USD 3,583.38 million by 2030 with a CAGR of 6.35%
The additive masterbatch market is poised to witness an upsurge in demand owing to its extensive use in the coloring of raw polymer during the manufacturing process of plastics. It has also developed an application in enhancing the properties of base plastics such as antifouling, ultraviolet resistance, anti-static, flame retardant, etc.
The swift shift towards polymers from metals in industries such as automotive, building and construction, consumer goods, packaging, etc. is anticipated to augment the additive masterbatch market through the forecast period. Additionally, the rapid industrialization of emerging country-level markets across the world is prognosticated to catapult the market on an upward trajectory.
The growth of the retail sector is passively influencing the proliferation of additive masterbatch market by fueling demand from the packaging industry. The trend is anticipated to continue over the next couple of years.
Market Segmentation:
By type, the global additive masterbatch market is segmented into antimicrobial additive masterbatch, flame retardant additive masterbatch, anti-oxidant additive masterbatch, and others.
By carrier resin, the additive masterbatch market has been segmented into polypropylene (PP), polystyrene, polyethylene terephthalate (PET), polyethylene (PE), polyvinyl chloride (PVC), and others.
By end-use industries, the global additive masterbatch market is segmented into packaging, automotive, consumer goods, building & construction, agriculture, and others.
Regional Analysis:
By region, the global additive masterbatch market has been segmented into Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa. Asia Pacific holds a substantial share of the global market and is expected to thrive at the highest CAGR during the forecast period. The rapid industrialization and urbanization witnessed in the region are poised to catalyze the growth of the regional additive masterbatch market. Furthermore, the government initiatives undertaken for the expansion of the market such as incentives and tax benefits are likely to augment the market in the forthcoming years. China and India have emerged as the manufacturing hubs in recent times, which is prognosticated to aid the proliferation of the additive masterbatch market in the region.
North America is a vital growth pocket of the global additive masterbatch market. It is very likely that the region will retain its position in the foreseeable future. The expansion of the major end-use industries, such as construction, automotive, packaging, etc., in the region directly influences the expansion of the additive masterbatch market. Additionally, the strong value maintained by the construction sector in the U.S. and Canada is majorly responsible for driving the growth of the regional market.
Europe is estimated to register a CAGR of 6% during the projection period. The growth can be ascribed to the increase in demand from the developed packaging, consumer goods, and automobile sector. Additionally, the rising application of the additive in the greenhouse plastic films is further expected to propel the growth of the additive masterbatch market over 2023.
Competitive Dashboard:
Some of the key players profiled in this report are Clariant AG (Switzerland), PolyOne Corporation (U.S.), Plastika Kritis S.A. (Greece), A. Schulman, Inc. (U.S.), Plastiblends India Ltd. (India), Polyplast Muller GmbH (Germany), Plastika Kritis S.A (Turkey), Dow Corning Corporation (U.S.), RTP Company (U.S.), and Ampacet Corporation (U.S.).
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Industry News:
In September 2021, a provider of additive masterbatches for flexible and rigid packaging, Ampacet, developed carbon black-free masterbatch solutions to be used for near-infrared (NIR) sorting applications.
In October 2021, PolyOne Corporation, a global provider of specialized polymer materials and services, received Biocidal Product Regulation (BPR) in Europe for its OnCap Aversive masterbatch additives.
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