The report “Masterbatch Market by Type (Color, Additive, White, Black, Filler), Polymer (PP, LDPE & LLDPE, HDPE, PVC, PET, PUR, PS), Application (Packaging, Building & Construction, Automotive, Consumer Goods, Textile, Agriculture), & Region – Global Forecast to 2028″, size was USD 12.9 billion in 2023 and is projected to reach USD 16.8 billion by 2028, at a CAGR of 5.4%, between 2023 and 2028. Masterbatch is a blend of pigments, additives, and polymer materials, which are used to impart color and strengthen the properties of plastics. The global masterbatch market is expected to witness significant growth during the forecast period. The replacement of metals with plastics in automotive applications and the increasing preference for masterbatch as a coloring method are augmenting the growth of the market.
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Some of the prominent key players are:
· Avient Corporation (US)
· Ampacet Corporation (US)
· LyondellBasell Industries Holdings B.V. (US)
· Cabot Corporation (US)
· Plastika Kritis S.A. (Greece)
· Plastiblends (India)
· Hubron International (UK)
· Tosaf Group Ltd (Israel)
· Penn Color, Inc. (US),
· Americhem (US))
Driver: Replacement of metals with plastics in automotive applications
In the past five years, although the growth of the automotive industry in this region has remained steady, there has been a significant increase in the use of lightweight materials to produce vehicles. The increase in the consumption of plastics in automotive applications positively influences the growth of the masterbatch market. Masterbatches, especially color and additive, are widely used in coloring automotive plastics for use in the interior and exterior components of vehicles.