Global market for additive masterbatch to reach US$3.4 bln by 2021, at a CAGR of 6%

04-Aug-16

The global market for additive masterbatch is projected to reach US$3.4 billion by 2021, registering a CAGR of 6% between 2016 and 2021, as per Research and Markets, driven by rising demand for durable and advanced products, and growing use of plastics in heavy and light packing. China is the largest market for additive masterbatch because of rising demand from the end-use industries such as automotive, packaging, and others.

The high demand for antimicrobial additive masterbatch is backed by growing use of plastics in day-to-day activities. Additive masterbatch is used in several end-use industries such as consumer goods, construction & building, automotive, and agriculture. The flame retardant additive masterbatch is important for fire prevention in the above mentioned industries to delay ignition time. Flame retardant additives are mixed while processing plastics to obtain essential flame retardant property. Asia-Pacific is the fastest-growing additive masterbatch market, in terms of value. The increased consumption of plastics in the region has led to the expansion of plastic manufacturing plants. The per capita consumption of plastics is estimated to rise significantly during the forecast period. The rising demand for plastics in food, pharmaceutical, and consumer goods packaging applications is driving the market for additive masterbatch.