Color Masterbatch Market growth is propelled by Rapid Expansion of Packaging Industry

Pune, India, November 2018/MRFR Press Release/- Market Research Future has published a cooked research report on the Global Color Masterbatch Market.

Market Overview:

Color masterbatch is a concentrated mixture of pigments which is utilized in solid or liquid form to impart color on raw polymers during plastic manufacturing process. Market Research Future (MRFR) has published a research report asserting that the global color masterbatch market is marked to expand at a noteworthy growth rate till the end of 2032.

Market Drivers and Restraints:

Increasing demand for color masterbatch owing to the rapid expansion of packaging industry is majorly fueling the growth of the global color masterbatch market. With rise in demand for consumer goods, personal care products, innovative packaging for food and beverages and others, the demand for optimizing the manufacturing process of color masterbatch has increased. Incorporation of advanced technology and increased research and development activities for manufacturing eco-friendly color masterbatch are propelling the growth of the global color masterbatch market. However, stringent regulatory framework regarding the manufacturing of color masterbatch and utilization plastic products are likely to restrain the expansion of the global color masterbatch market.

Market Segmentation:

The global color masterbatch market has been segmented on the basis of types and application. Based on types, the color masterbatch market has been segmented into white masterbatch, standard color masterbatch, black masterbatch, additive masterbatch and others. The standard color masterbatch commands for the major share in the global color masterbatch market owing to its extensive utilization in processing polymers. Based on application, the color masterbatch market has been segmented into packaging, automotive, consumer goods and retail, textile and others. The packaging segment is leading the global color masterbatch market owing to the rapid expansion of packaging industry. Increased utilization of plastic products in consumer goods are leading to the significant expansion of the consumer goods and retail segment in the global color masterbatch market.

Regional Analysis:

Geographically, the global color masterbatch market has been segmented into five major regions such as North America, South America, Asia Pacific, Europe, and the Middle East and Africa. The Europe region commands for the major share in the global color masterbatch market and is forecasted to expand at a CAGR of 5.60% during the forecast period. The color masterbatch market is majorly driven by factors such as increased research and development activities for optimizing the masterbatch manufacturing process, rapid expansion of end-use industries and high demand for good quality color masterbatches from various end-use industries in this region. The Asia Pacific region commands for the second largest share in the global color masterbatch market and is anticipated to expand significantly at a CAGR of 6.63% during the assessment period. Rise in demand for color masterbatch due to rapid expansion of packaging industry is fueling the growth of the color masterbatch market in the North America region. However, low penetration of technologically advanced manufacturing processes in the underdeveloped areas is restraining the expansion of the color masterbatch market in the Middle East and Africa region. 

Key Players:

The major players profiled by MRFR that are operating in the global color masterbatch market are A Schulman Europe, Tosaf Compounds, Polyplast Müller, PolyOne Corporation, Hubron, Clariant Masterbatches, Cabot Plastics International and others.

Industry Updates:

In October 2018, Americhem, a global masterbatch manufacturing company that specializes in custom color and additives, has expanded its ColorRx line of pre-colored medical-grade compounds with the launch of PC/ABS and PC/polyester blends.

In October 2018, Dew Performance Silicones, a global supplier of silicon solutions, has launched a new Dow Corning MB25-235 masterbatch which is designed by reducing the coefficient of friction to provide long-lasting slip performance and prevent migration in food-contact applications.Get Full Information About This Report: Color Masterbatch Market Size