Masterbatch Market to Grow at a CAGR of 6.89% during the period 2019-2025 | BIS Research
The latest trend in the masterbatch market includes development of bio-based and biodegradable masterbatches and increased usage of recycled plastic coupled with near-infrared radiation distinguishable masterbatches.
By: BIS Research
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The packaging industry has been the dominant end-user for the masterbatch market. The rising demand for attractive and innovative packaging is further projected to drive the global masterbatch market. The packaging industry utilizes numerous masterbatches, in which colored, black, white, and additive masterbatch are the most common types. Food and beverage industries and flexible packaging are showing an inclination in enhancing the aesthetic value of product packaging, which, in turn, is burgeoning the demand for the color masterbatches.
The demand for masterbatches varies according to various regions. The market holds a prominent share in various countries of North America, Asia-Pacific, and China. Europe is currently the largest revenue-generating country in the masterbatch market, predominantly backed by demand for premium masterbatch solutions. Industrial advancements, technological advancements, extensive investments for dedicated R&D facilities, and the presence of major display manufacturing companies are some of the major drivers that are propelling the growth of the market in the country.
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Currently, the global masterbatch market is highly fragmented, and the trend is expected to remain the same, at least till 2023. The competitive landscape of the masterbatch market consists of different strategies undertaken by major players across the masterbatch value chain to gain a comprehensive market share by 2025.