Global Plastic Color Concentrates Market - Segmented by Application, Product Type and Geography - Growth, Trends and Forecast (2018 - 2023)
The Global Plastic Color Concentrates market is estimated to register a significant CAGR during the forecast period. Masterbatch is expected to be the largest end-user segment, as of 2017. Asia-Pacific is expected to hold the largest share of the market during the forecast period.
Increasing Usage of Plastics in Automotive Industry to Propel Growth of the Market
Plastic materials, owing to their superior material characteristics, such as heat resistance, strength-to-weight ratio, and chemical stability, are increasingly being used to replace traditional materials, including bronze, stainless steel, and cast iron during automotive production. Plastic color concentrates, such as masterbatch ensure that the above needs are sufficed by offering new design opportunities in terms of color and form. This, in turn, makes automobiles resistant to harsh environmental conditions and also, makes them more attractive and durable.
Masterbatch hold the Largest Share of the Product Type Segment
Masterbatches are used by several technological methods including injection, blow, spinning, and few others and is primarily used in packaging, building & construction, consumer goods, automotive, textiles, and other sectors.
Masterbatch allows the manufacturer to color raw polymer economically during the plastics manufacturing process. Color masterbatch, which is used for coloring plastics, is widely used in various end-user industries, such as automotive, appliances etc., to make products look visually appealing. These end-user industries depend heavily on color for their marketing and branding strategies. Color masterbatch is used in the production of plastics for automobiles, electronic appliances, flexible packaging for food & beverages and medicine packaging.
Asia-pacific – The Largest Region by Demand
The growth of the market in the region is directly linked to the growing plastic industries in different countries in the region. China accounts for the largest share of the market in Asia-Pacific. In 2016, China was the largest producer of plastic materials in the world, accounting for 27.8% of the global plastics production. Moreover, China is the largest in terms of purchasing power parity and the second-largest economy in terms of nominal GDP. China is one of the lucrative markets for plastic based additives, due to the availability of low-cost raw materials and labor. Other counties in the region, such as India and Japan are also expected to witness significant growth over the forecast period.
Notable Developments in the Market
December 2017: BASF had increased prices of additives for plastics applications
Major Players: Clariant International, BASF SE, A Schulman, Polyone Corporation and Cabot Corporation, among others.
Reasons to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Understanding the dominating end-user and application in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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