Global News: Black Masterbatch Market to Clock Value USD 4,873.8 Mn with Rising Applications in Automotive Sector Till 2028
Pune, Maharashtra, November 13, 2019 (Wired Release) Prudour Pvt. Ltd. The global black masterbatch market is projected to be US$ 2,877.1 Mn in 2018 to reach US$ 4,873.8 Mn by 2028 at a CAGR of 5.4%.
Masterbatch is a concentrated mixture of pigments and additives that are encapsulated during a heat process into a carrier resin, it is solid or liquid additive for plastics used for either colouring plastics (colour masterbatch) or for imparting other properties to plastics (additive masterbatch). Similar to any other masterbatch, black masterbatch comprises of excessive carbon black, carrier resin and dispersants, and can be customized by colour and heat or UV requirements. Black masterbatch allows processors to colour polymers economically during the plastic manufacturing process, owing to which black masterbatches products are extensively used throughout the plastic industry and are particularly suitable where unique attributes are required.
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Global black masterbatch market is expected to grow steadily during the forecast period, and demand for black masterbatch is expected to remain robust in emerging economies, owing to the favourable economic environment. Black masterbatch has several applications, owing to which they are widely used in various end-use segments such as plastic industry, automotive, agriculture, packaging and others. Furthermore, strong demand from plastic industries is a key factor for the enormous growth in the target market. Black masterbatch market is expected to register strong growth, owing to the rising usage of plastic alternatives in comparison to metals in the automotive industry. Hence strong need in the automotive sector, particularly from developing economies would decidedly augment the growth of the target market. Another important end-use application of black masterbatch is that it is extensively used in films extrusion, common method to make plastic films, especially for packaging industry which is expected to drive demand for black masterbatch market further.
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Black masterbatch consists of carbon black, which is often used for conductive packaging, films, fibres, foams, tubes and cables. Carbon black is extremely resistant to colour change or fading, even under extreme conditions, especially for engineering polymers which are aiding the growth of the target market. In agribusiness, a black masterbatch is generally utilized in nursery outlines, water system frameworks, mulch films, and so on, which is also serving in the growth of the target market. In addition to this, government investment plans and stable policy framework for automobile manufacturers in the Asia Pacific will significantly impact market growth. Also, changing consumer preferences toward a better standard of living with growing per capita income in this region will substantially boost revenue generation for the automotive industry. These factors will positively aid in the growth of masterbatch products during of forecast period.
Robust growth in end-use segments such as automobile, agriculture and others, especially in developing economies such as China and India will undoubtedly augment the growth of the target market.
Strong growth in the plastic industry and growth of the construction sector in emerging economies and recovery in developed countries is another major factor expected to boost demand for black masterbatch during the forecast period.
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Stringent regulations by various government regulatory bodies across the globe regarding the use of certain type of pigments in packaging and holding materials, particularly food products packaging, may hinder the growth of the global black masterbatch market.
On the basis of product type, the market is segmented into PE Black Masterbatch, PP Black Masterbatch, PS Black Masterbatch and others. PE Black Masterbatch accounts for the majority share in the global black masterbatch market.
On the basis of region, the market is segmented into North America, Europe, APAC, Latin America and MEA. The APAC accounts for the majority share in the global black masterbatch market, followed by Europe.
The research report on the global black masterbatch market includes profiles of some of the major companies such as LyondellBasell Industries N.V., Cabot Corporation, PolyOne Corporation, Clariant AG, Tosaf Compounds Ltd., Ampacet Corporation, Hubron (International) Limited, Polyplast Müller GmbH, Plastika Kritis S.A., J.J. Plastalloy Private Limited etc.