Global masterbatch market to register CAGR of 7.1% between 2014 and 2019

12-Feb-15

The global masterbatch market is projected to register a CAGR of 7.1% between 2014 and 2019 to reach US$12.1 bln. The packaging segment, that uses masterbatch, is witnessing a CAGR of 7.5% and constitutes a significant part of the overall masterbatch market. However, the automotive segment is projected to grow at a high CAGR of 8.5% by 2019, as per MarketsandMarkets Region-wise, Asia-Pacific and South America are leading the global market. Growth in Asia-Pacific is led by rising demand for refined raw materials and products among the region's plastic processors. Due to the region's favorable prospects, several companies are expanding in Asian countries to benefit from the low-cost structures and growing local demand for plastics and packaging. Packaging represents the largest end-use market for masterbatch. Manufacturers of consumer products are increasingly seeking packaging materials that facilitate low cost production and ensure effective storage and transportation. Demand is therefore expected to grow for advanced masterbatch that offer both functional performance and aesthetic appeal. The masterbatch industry is moving towards investment in the implementation of technologies to produce new and high-quality products. The companies involved in this market are extensively into research and new product developments.