Global Masterbatch Market TOC
Masterbatch Market size is estimated to cross USD 27.61 billion by the end of 2035, growing at a CAGR of 5.80% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of masterbatch was around USD 13.18 billion. The demand for masterbatch is growing faster due to the increasing demand from the packaging industry globally. As per the Waste and Resources Action Programme, nearly 141 million tons of plastic packaging are produced every year worldwide.
Moreover, the end-use sectors such as the construction industry in the masterbatch market are witnessing an increasingly high demand for sophisticated color formulations which is driving the demand for masterbatch across the globe.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
5.80% |
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Base Year Market Size (2022) |
USD 13.18 Billion |
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Forecast Year Market Size (2035) |
USD 27.61 Billion |
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Regional Scope |
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Product Type (Color, White, Black, Additives)
The white masterbatch market is estimated to gain the largest revenue share over the projected time frame. It is frequently employed in the production process of polymers or thermoplastics such as polyethylene, PET, and PP to add whiteness or opacity to the finished products. On the other hand, the color segment is projected to witness a high CAGR of 6.29% during the forecast period, owing to the wide-ranging use of color masterbatches by several market sectors like the electronic, sport & leisure, automotive, agriculture, building & construction, packaging, and textile industries. Color masterbatches have many applications in the electronics industry. For instance, they are used in the coloring of wires, lighting fixtures, and electrical components.
End-user (Packaging, Building & Construction, Consumer Goods, Automotive, Agriculture, Petrochemicals)
Masterbatch market from the packaging segment is expected to garner a significant share. This is mostly because of the increasing application of masterbatch in the plastics utilized in packaging to provide numerous properties like UV stability, weather resistance, antioxidant, and antistatic properties for the protection of packaged products. For instance, an anti-fog additive masterbatch is used in flexible packaging to increase the precision of packaging and maintain the freshness and quality of the food. Similarly, color masterbatches are used to color caps and closures of plastic packaging bottles. This, as a result, is anticipated to create numerous opportunities for boosting the demand for masterbatches in the packaging industry in the coming years.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Carrier Polymer |
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End User |
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APAC Market Forecast
The Asia Pacific masterbatch market is projected to hold the largest market share and grow with a CAGR of 6.05% over the analysis period. The market is also growing faster due to numerous factors such as the surge in population, easy availability of raw materials, rising adoption of innovative technologies, and low cost of labor. For instance, according to World Bank statistics, the population of the South Asia region rose from 1.68 billion in 2011 to 1.9 billion in 2021. Furthermore, key market players are aggressively expanding their operations to support the market demand across the globe. For instance, in February 2021, Avient Corporation completed the expansion of existing production capabilities at its Binh Duong site in Vietnam for color concentrates.
European Market Statistics
The growth of the masterbatch market is poised to show notable revenue in the upcoming years. This can be attributed to the due to the increasing demand for polymers and special effects that are used to differentiate the products. There has been an increasing focus in Europe on manufacturing superior products for food packaging & non-food packaging applications. Europe has stringent environmental regulations for plastic production & consumption, which would encourage the production of biodegradable masterbatches. For instance, oxo-biodegradable masterbatch can degrade in the presence of oxygen (Heat and UV light accelerate the process) much more quickly than ordinary plastic and then biodegrade in the open environment.
Author Credits: Smruti Ranjan, Rajrani Baghel
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