Masterbatch Market By Type (White, Black, Color, Additive, Filler), By Carrier Polymer (Polypropylene, Polyethylene), By End Use (ackaging, Building & Construction, Consumer Goods, Automotive & Transportation, Agriculture, Others) and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) Global Forecast 2020 to 2030

1. global masterbatch market has seen strong development over the past couple of years with its end-business, and is anticipated to continue in the coming years. The main driving factor would be a rise in demand for the product in various end-industries such as packaging, building & construction, automotive, consumer goods, textile, agriculture, household appliances, sports & leisure, and furniture.

Masterbatches are a solid or liquid plastic additive that protects the polymers from different harmful radiations and imparts color enhancing the mechanical properties. The abundance of low-cost labor and raw materials in the plastics industry is heavily concentrated in China and the South Asian countries. Different forms of color additives give the polymers enhanced properties and are developed with the aid of different dyes and pigments. The products are treated along with resins or polymers to supply plastics with the required color, and is used in various applications such as car parts and packaging activities.

Various forms of masterbatch are used to create attractive packaging which is expected to improve the commodity demand over the coming years. The growing emphasis on the usage of plastic in the automobile industry to minimize vehicle weight, thus enhancing fuel performance, propels the demand in the market for different forms of plastic along with use of masterbatch to impart functional properties. Developing economies such as China, Japan, India, and others have reported a rise in automobile development activities which are expected to further improve the region's plastic components demand over the coming years.

The global masterbatch market has been segmented based on type, polymer and application. Based on type, the market is categorized into color, additive, white, black, and filler. Based on application, the market is categorized into packaging, building & construction, automotive, consumer goods, textile, agriculture and others.

The color group, in terms of volume, is projected to lead the market over the coming years. It is attributed to the growing usage of color masterbatch in different applications such as advertising, agriculture, automobile, building & manufacturing, consumer products, and textiles.

In terms of volume, the packaging product category accounted for the highest market share, led by the building & construction category, in 2019. It is attributable to the need for food & beverage manufacturing, medical, personal care, residential, building & building, electric & telecommunications, and automobile, among other sectors. The emerging countries are designing the infrastructure utilizing masterbatch in the framework for building & development.

The demand in the automotive application segment is expected to register the highest CAGR in the market. Plastics offer superior mechanical, thermal, physical, and electrical properties than metal products. The technological materials for different parts such as steering wheel, dashboards seatbelts, airbags, and bumpers, are commonly utilized in automobile applications. Continuous creativity and competition for lightweight products in the car industry led to metals being substituted by plastics.

The global masterbatch market is divided on the basis of region as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific dominated the global masterbatch market in 2018; however, Europe is expected to grow at a significant pace through the year 2025.

In terms of volume, the APAC market is expected to post the highest demand in the global masterbatches market. The growth of the masterbatch industry is due to increased demand for packaging goods, as well as the increasing middle-class population that eventually drives the masterbatch sector in the region.

The European region is expected to register a significant growth over the forecast period. The enhanced demand can be due to the involvement of a range of end-use sectors, including the automobile, building & design, manufacturing, and consumer products. The development of these sectors along with its functional properties of the product is projected to boost the masterbatch market over the next few years.