Additive Masterbatch Global Market Report 2023
Major players in the additive masterbatch market are Clariant AG, Ampacet Corporation, Tosaf Group, Dow Corning Corporation, O’neil Color And Compounding, Plastika Kritis S.A., PolyOne Corporation, Plastiblends, Polyplast Muller GmbH, RTP Company, Penn Color, Inc.
New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Additive Masterbatch Global Market Report 2023" - https://www.reportlinker.com/p06325426/?utm_source=GNW
, Marval Industries Incorporation., Cabot Corporation, Hubron International Ltd., and Global Colors Group.
The global additive masterbatch market grew from $4.11 billion in 2022 to $4.35 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The additive masterbatch market is expected to grow to $5.43 billion in 2027 at a CAGR of 5.7%.
The additive masterbatch market consists of sales of light UV stabilizer, anti-corrosive and processing aid.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The additive masterbatch refer to inorganic or organic compounds that come from both natural and artificial sources, used to change the original qualities or add new ones to pure plastic.Additive masterbatch can be used as the raw material for creating plastic items directly or in combination with other materials such as wood powder.
When different additives are combined with plastic, different properties emerge, such as increased toughness, effective insulation, improved glossiness, and others.
Asia-Pacific was the largest region in the additive masterbatch market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the additive masterbatch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of additive masterbatch are antimicrobial, antioxidant, flame-retardant, and other types.The antimicrobial additive masterbatch is used as a masterbatch or combined with plastic resins as a compound to control bacteria.
These antimicrobials shield the surface against bacterial deterioration and discoloration.These are also available by carrier resins such as polyethylene (PE), polystyrene (PS), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and other carrier resins.
They are used in packaging, automotive, consumer goods, building and construction, agriculture, and other sectors.
Rapid growth in the packaging industry is expected to propel the growth of the additive masterbatch market.Packaging is the process of covering a product with an informative and protective covering to safeguard the product.
The packaging industry uses the additive masterbatch for packaging food, drugs, medical supplies, cosmetics, and other things.For instance, in October 2020, according to India Brand Equity Foundation (IBEF), food processing consumes the most packaging (45%), followed by pharmaceuticals (25%), and personal care items (10%).
Therefore, rise in the packaging industry is expected to boost the demand for additive masterbatch during the forecast period.
Technological innovations are a key trend gaining popularity in the additive masterbatch market.Major companies operating in the market are introducing innovative products such as plant-based additive masterbatch, and sustainable additives, to reduce the harmful impact of additive masterbatch on the environment.
For instance, in June 2020, Palsgaard, a Mexico-based full-service emulsifier and stabilizer company, launched a plant-based additive to replace existing PP and PE polymerization technology.It gives a feasible replacement for typical synthetic formulations based on fossil fuels without sacrificing functionality, performance, or quality.
These plant-based additives are made in entirely carbon-neutral factories help to lower carbon emissions.
In July 2020, PolyOne Corporation, a US-based global manufacturer of specialized polymer materials, acquired Clariant Masterbatch for $1.44 billion. Through this acquisition, PolyOne aims to bring two global leaders together to create a specialty company focused on developing sustainable solutions for their customers. Clariant Masterbatch is a Switzerland-based specialty chemical manufacturing company that produces a wide range of additive masterbatches.
The countries covered in the additive masterbatch market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The additive masterbatch market research report is one of a series of new reports that provides additive masterbatch market statistics, including additive masterbatch industry global market size, regional shares, competitors with an additive masterbatch market share, detailed additive masterbatch market segments, market trends and opportunities, and any further data you may need to thrive in the additive masterbatch industry. This additive masterbatch market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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