Color concentrates are the additives which are added during the manufacturing process of plastics for enhancing the appeal of the product and improving the product design, quality and manufacturing process. Master batch is a liquid or solid additive for plastic, which is used for coloring plastics or enhancing the properties of plastics such as antimicrobial properties, anti-fouling properties, and UV rays resistance.
As per Research and Markets, the growing demand for plastics in various industries is also a driver for the growth of the color concentrates market. Increased in usage of plastics in automotive industry and growing usage in consumer goods and electrical appliances is another driving factor which drives the growth of the color concentrate market.
Color concentrate market is growing at a rapid pace in Asia pacific region. There are various applications of different forms of color concentrate in end user industries such as plastic color concentrate is used in automotive parts for enhancing the properties of plastics, in packaging films. Asia Pacific region is the leading manufacturer of automotive motor vehicles having maximum contribution from countries such as China, South Korea, Japan and India are listed in top 10 automobile manufacturing countries. In 2015 production of cars manufactured in China is 24,503,326 motor vehicles. The Chinese Packaging market is also contributing to the growth of global color concentrate market and was valued at 604,752 million units in 2016 and Paper & Board is the largest packaging type accounting for 213,505 million units in 2016.