Global masterbatch market projected to reach US$13.41 bln by 2022, at a CAGR of 5.1%

12-Jun-17

The global masterbatch market was valued at US$10.45 bln in 2017, and is projected to reach US$13.41 bln by 2022, at a CAGR of 5.1% during the forecast period, as per Research and Markets. The replacement of metals by plastics in the automotive application and widely preferred coloring method are factors anticipated to drive the growth of the global masterbatch market.

On the basis of type, the global masterbatch market has been classified into color, additive, white, black, and filler. The color segment is expected to lead the global masterbatch market during the forecast period, followed by the white segment. The color segment is anticipated to grow at the highest CAGR between 2017 and 2022, owing to the increasing usage of coloring in packaging, building & construction, automotive, consumer goods, textile, agriculture, and others applications.

The LDPE & LLDPE segment is expected to be the fastest-growing polymer segment, as it offers greater efficiency, smoothness, and dispersion properties to the end-use applications of plastic goods. The packaging segment is the largest application segment of the global masterbatch market. Masterbatch is used in the packaging application for goods utilized at the retail, industrial, and institutional levels. The Asia-Pacific region is the largest market for masterbatch. Rapid industrialization and improved living standards are factors expected to drive the demand for masterbatch in this region. In addition, the increasing applicability of masterbatch in the packaging application is further expected to drive the growth of the Asia-Pacific masterbatch market.