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(Construction.IndustryNews247.Com, December 08, 2018 ) According to the new market research report “Color Masterbatch Market by Type (Standard Color, Tailor-made Color, Specialty Color), Carrier Resin (PE, PP, PS) and End-use Industry (Packaging, Building & Construction, Consumer Goods, Automotive, Agriculture) - Global Trends & Forecasts to 2021”, published by MarketsandMarkets™, the market size of color masterbatch is projected to reach USD 4.75 Billion by 2021, registering a CAGR of 5.6% between 2016 and 2021.
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The growth of the color masterbatch market is triggered by the rising demand from the packaging segment. It is widely used for industrial and household purposes. Change in lifestyle and globalization have triggered the demand from the packaging industry, which drives the market of color masterbatch.
Color masterbatch for standard color to account for the major share of the market till 2021
The color masterbatch market is segmented by type, namely, standard color, specialty color, and tailor-made color. Standard color accounts for a major share of the color masterbatch market, as it is extensively used to process polymers. They are used in a wide range of applications due to its mechanical, heat resistance, and weather resistance properties. Some of the applications of standard color masterbatch are packaging sheets & films, plastic bottles & containers, and cables & wire.
Polyethylene carrier resin to dominate the color masterbatch market during the forecast period
Polyethylene (PE) is a major carrier resin used to manufacture color masterbatch. It includes high-density polyethylene (HDPE), low-density polyethylene (LDPE), and linear low-density polyethylene (LLDPE). They are used to impart specific resin properties to processed polymers. Polyethylene products are mostly used in various end-use applications, such as packaging bags, general plastic films, medical packaging, mulch films, green house & tunnel films, and pipes.
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Packaging industry to be the largest industry for the color masterbatch market between 2016 and 2021
Packaging is the dominating industry in the color masterbatch market. It is widely used for industrial and household purposes. Improved lifestyle and globalization have triggered the demand from the packaging industry, which drives the market of color masterbatch. Moreover, the increasing use of plastics in consumer goods is also expected to have strong growth for the color masterbatch market.
Asia-Pacific to be the largest market during the forecast period
The color masterbatch market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is the largest market of color masterbatch, in terms of volume. The growing packaging industry coupled with the increased demand from retail industry drives the market of color masterbatch in the region. End-use industries are witnessing a high growth in developing nations such as India, Indonesia, and Brazil due to their growing economies.
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Currently, the global color masterbatch market is dominated by various market players, such as Clariant AG (Switzerland), A. Schulman, Inc. (U.S.), PolyOne Corporation (U.S.), Plastika Kritis S.A. (Greece), and Plastiblends India Ltd. (India). The leading players mainly concentrate on expansions to enhance their market reach and make innovative products available to a large number of customers.
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