Global Masterbatch Market: Product Analysis
Masterbatch is a solid or liquid additive for plastic. Additive masterbatch prevents the products from UV rays. Masterbatch market players offer products that are advanced and have specific concentrations of pigments and additives encapsulated by a polymer. Generally, the masterbatch market growth is observed in the South East Asia region. According to Hitech Masterbatch, a manufacturer and supplier, the market for masterbatches will grow up to 12 billion in the next 4 years. The process of masterbatch is an amazing way in which to color plastics as well as add strengthen. In terms of pricing, masterbatch are lower when compared with other conventional coloring methods because masterbatch leaves little waste and saves time in the creation process. Using masterbatch is cleaner than using powders or pigments as there is no dust, health, or safety issues. It is an easy and convenient way of adding colors to products. When using the process of masterbatch one can add performance enhancing additives.
As per the IndustryARC report, APAC is the leading region in the global masterbatch market, with 48% market share as of 2018. The same year, the analyst of the report has estimated the global masterbatch market size of around $10,850 million, projecting the value to increment at an exuberant CAGR of approximately 10.23% during the forecast period of 2019 to 2025. The market research report pinpoints Asia Pacific as the most lucrative region, generating more than 48% of the total demand in 2018. On the other hand, the food and beverage industry is tipped as the foremost end use industry, exhibiting a CAGR of 10.8% during the aforementioned forecast period.
Masterbatch Market: Use of Polycarbonates and Corrosion Inhibitors in Various Industries
According to Americhem, a leading designer and manufacturer of Masterbatches, when the businesses are looking for a performance plastic that is durable, polycarbonates offer a strong, easily molded option for production. Polycarbonates are thermoplastic polymers that are particularly useful in industrial applications. Polycarbonate's toughness makes it an ideal fit for the automotive, construction, and other industries that require its plastics to be tough and durable. Asia has the largest consumption and production of polycarbonates. In developing countries, it is going to be a mainstream product and in developed countries, many companies will start to produce polycarbonates. The masterbatch market in Europe and North America are not much as compared to Asia’s growing demand.
The growing packaging demand from the food and beverage packaging industry is creating strong revenue avenues in the masterbatch market. With enhanced coloring, industry players make an impression on the end users as the product sits with them. The competition is fierce in the food and beverage industry, with strong challenges coming from local players. Therefore, the global players with deep pockets are leveraging masterbatches to differentiate their products and stay ahead of the curve.
There is a strong growing demand for masterbatches in the automotive industry as well. The industry is now switching to metals parts with plastic components, which enables them achieve greater fuel efficiency and match regulations regarding greenhouse gas emissions. Additionally, among the various methods to avoid or prevent destruction or degradation of metal surface, the corrosion inhibitor is one of the best know methods of corrosion protection and one of the most useful on the automotive industry. To improve the durability of reinforced concrete structures, which are impaired due the high alkalinity, corrosion inhibitors are mixed with cement or concrete paste.
Scope of Masterbatch Market
The carrier material of the masterbatch can be based on wax or on a specific polymer, identical or compatible with the natural polymer used. Masterbatches can be used in most of the process, except rotational molding and plastisol and other liquid resin systems. Increased usage of plastic products and packaged products are the main drivers for the growth of masterbatch market. There has been a good growth due to the growing manufacturing industries. The increasing use of plastics in the automotive, consumer goods, building and construction industry is yet another driving factor for the growing demand of masterbatches. Rapid growth in industrialization with the developments and innovations in the industry results in the positive market growth.