Masterbatch Market – Industry Trends and Forecast to 2028
Market Analysis and Insights of Masterbatch Market
Data Bridge Market Research analyses that the masterbatch market will witness a CAGR of 6.07% for the forecast period of 2021-2028. Growth in the application of colour masterbatch, growing use of masterbatch for a wide range of end use applications such as packaging, building and construction, consumer goods, automotive, textile, agriculture, transportation, cosmetics and pharmaceuticals, electronics and electrical and others and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the masterbatch market.
Masterbatches are the liquid or solid mixtures of pigments and additives which are used in enhancing the properties of polymers. These are used for their flame retardant, UV stabilizing and antistatic and anti-locking properties. In short, masterbatches enhance the quality and performance of plastics and packaging materials.
Rise in application of masterbatches for automotive applications is the root cause fuelling up the market growth rate. Rising industrialization coupled with growth in the application by polymer manufacturers in their own compounding procedures will also directly and positively impact the growth rate of the market. Growth and expansion of various end user verticals coupled with surge in the preference for masterbatches for colouring will further carve the way for the growth of the market. Growth in the manufacturing activities coupled with rising construction of commercial and residential properties will also foster the market growth rate.
However, complexities involved in colour masterbatches will pose a major challenge to the growth of the market. Surging availability of low quality and cheaper products coupled with non-biodegradability of plastics will dampen the market growth rate. Fluctuations in the prices of raw materials will further derail the market growth rate.
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