Black Masterbatch Market Size

Global Black Masterbatch Market Overview

Black Masterbatch Market Size was valued at USD 2.6 billion in 2023. The black masterbatch industry is projected to grow from USD 2.71 Billion in 2024 to USD 3.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.14% during the forecast period (2024 - 2032). The rising packaging business, as well as the organic growth of the building and construction, consumer goods, automotive, textile, and agriculture industries, are the key market drivers enhancing the market growth.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Black Masterbatch Market Trends

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  Growth in the plastic packaging industry drives market growth.

  
  

The rise of the Plastic Packaging Industry is driving the market CAGR for Black Masterbatch. The plastic packaging sector grew rapidly, with a constant shift toward new retail formats. Growing sales rates also stimulate organized retail growth, increasing demand for imaginative and appealing packaging. Food and beverages are one of the most rapidly developing retail segments. Growth in this sector is likely to encourage the use of packaging, as plastic packaging helps to improve food quality and increases its shelf life. Packaged food is expected to be a fast growing segment. In addition to food and beverage, pharmaceuticals are a major user of packaging. The pharmaceutical business is expected to increase at a double-digit rate.

Plastics have numerous applications in the food packaging industry. Masterbatch is applied to base polymers to offer the appropriate characteristics and functionalities to plastics. Because ordinary plastics take years to disintegrate, they are utilized to speed up the process of plastic product breakdown while also providing the product with a pleasing colour. It is the most efficient plastic colouring procedure for adding practical and decorative aspects to plastic packaging. This is predicted to increase the packaging business, assisting in market expansion.

Furthermore, the automobile business is thriving as car sales increase due to rising disposable incomes. Vehicle sales globally will reach 99.7 million in 2022. With increased car demand, China and India are expected to drive the automotive sector, and new vehicle registrations are expected to exceed 100 million units globally in 2019. The worldwide automobile sector is expanding, primarily due to increased demand for electric vehicles. One-third of the automobile sector is accounted for by China alone.

January 2024- Black Swan Graphene has disclosed a wide variety of Graphene Enhanced Masterbatch ("GEM") products, every offering extraordinary performance factors customized for several applications within the polymer industry. This news comes on the heels of the latest commercial agreement with a global leader in black masterbatch manufacturing, Hubron International. Black Swan highlights that these products are the consequence of wide internal expansion efforts, which involved individual verification via the knowledge at the Graphene Engineering Innovation Centre ("GEIC") and a deliberate partnership with Hubron. While the concentration of product development is on attaining expert performance, Black Swan Graphene puts a substantial focus on consistency, identifying its crucial role in the successful commercialization of additive products. The primary production volumes are focused on polypropylene, a cost-effective and versatile polymer widely used across industries. Instead of its fame, polypropylene's relatively low impact resistance has offered challenges in several application areas. With the integration of only 1% graphene into polypropylene (loading ratio), the products showcased a brilliant 30% improvement in impact resistance, as seen by a Notched Izod test measuring the energy absorbed by the material when struck by a notched sample. The graphene-enhanced products, with Black Swan's innovative additives, have several performance advantages, such as better processability, causing better cost-effectiveness. Available in several polymers, masterbatches with loading ratios of nearly 20% offer constant performance in boosting the impact resistance of polypropylene. The milestone offers several new opportunities across diverse industries, especially in packaging and lightweight applications across the transportation sector. The latter is particularly important for boosting range and fuel efficiency.

Black Masterbatch Market Segment Insights

Black Masterbatch Type Insights

The black masterbatch market segmentation, based on type includes standard black masterbatch, specialty black masterbatch and tailor-made black masterbatch. The standard black masterbatch segment is expected to register a moderate revenue share in the qlobal black color masterbatches market, due to its heat resistance, weather resistance, and strong mechanical properties. Standard color segment revenue is estimated to have the highest CAGR

Black Masterbatch Carrier Resin Insights

The black masterbatch market segmentation, based on carrier resin, includes plastic and elastomer/rubber. Elastomer/rubber had a significant market share. Elastomer/rubber masterbatch is a rubber composition that contains unique additives such as sulphur, carbon black, or insoluble sulphur to give the final rubber product excellent flexibility. Rubber masterbatches are incorporated into the product to ensure homogeneity, which improves the mechanical and physical attributes of the ultimate product. Pallets are commonly used for these type of masterbatches.

Figure1: Black Masterbatch Market, by Carrier Resin, 2023 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Black Masterbatch Application Insights

The black masterbatch market segmentation, based on application includes packaging, fibers, building & construction, electrical & electronics, automotive, chemical/compounding and others. In 2022, the packaging category dominated the market with a revenue share of 26.9%. Its significant proportion is due to the packaging business, which comprises retail, industrial, and consumer packaging, as well as flexible and rigid choices. The growing need for packaging is being driven by an increase in the number of city dwellers who require packaged items. Consumers require packaging that is convenient, sustainable, flexible, safe, and easily traceable. Because plastic packaging meets all of these requirements, its demand is likely to rise, resulting in increased demand for the product.

Black Masterbatch Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dominated the market with a revenue share of 41.6% in 2022, because of the rising desire for convenience products. Special color masterbatches are used in packaging products and are available in liquid and solid forms. There has been a growing need for special colors due to the changes in consumer preferences and lifestyles which is conducive to the growth of the packaged food and personal care products market.

Further, the major countries studiedin the market reportare The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: BLACK MASTERBATCH MARKET SHARE BY REGION 2023 (%) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s black masterbatch market accounts for the second-largest market share due to rapid expansion of the packaging, consumer goods, automotive, and transportation industries, as well as the increasing building and construction and agriculture sectors. Further, the German black masterbatch market held the largest market share, and the UK black masterbatch market was the fastest-growing market in the European region

The Asia-Pacific Black Masterbatch Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to rapidly expanding construction industry, and presence of huge consumer base. Moreover, China’s black masterbatch market held the largest market share, and the Indian black masterbatch market was the fastest growing market in the Asia-Pacific region.

Black Masterbatch Key Market Players& Competitive Insights

Leading market players are investing heavily in R&D to expand their product lines, which will help the black masterbatch market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, black masterbatchindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the black masterbatch industry to benefit clients and increase the market sector. In recent years, the black masterbatch industry has offered some of the most significant advantages to medicine. Major players in the black masterbatch market, including Ampacet Corporation, Plastika Kritis S.A. Tosaf Compounds Limited, LyondellBasell. Avient Corporation, Penn color Inc and others, are attempting to increase market demand by investing in R&D operations.

Avient Corporation, headquartered in Avon Lake, Ohio, is a maker of specialist polymer materials. Thermoplastic compounds, plastic colourants and additives, thermoplastic resins, vinyl resins, thermoplastic composites, and speciality thermoset composite materials are among its offerings. On August 31, 2000, The Geon Company (Geon) and M.A. Hanna Company (Hanna) merged to establish PolyOne. PolyOne Corporation was formed through the combination of M.A. Hanna Company and The Geon Company in 2000. PolyOne was placed #731 on the Fortune 1000 list in 2009 and was included in the S&P 600 investment index. In December 2019, PolyOne Corporation, a leader in specialty polymer goods, services, and solutions, has announced the acquisition of Clariant Colour and Masterbatch Additives Company. Both companies are dedicated to providing specialized solutions and technologies to high-growth end sectors such as packaging, fashion, and healthcare.

Cabot Corporation is a Boston, Massachusetts-based specialty chemicals and performance materials firm. The corporation has 36 manufacturing sites, eight research and development facilities, and 28 sales offices in over 20 countries. Cabot Corporation was created in 1882 when Godfrey Lowell Cabot submitted for a patent for a "carbon black making apparatus." In 1960, the corporation was incorporated in the state of Delaware. In  October 2019 , Cabot Corporation has introduced a new black line of post-industrial polymers made from black and recovered carbon. The new black Masterbatch series is intended to improve the characteristics of plastics in order to satisfy sustainability requirements in a wide range of industries while maintaining full production.

Key Companies in the black masterbatch market include

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  Hubron International

  
  


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  BASE SE

  
  


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  RTP Company

  
  


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  Plastiblends India Limited

  
  


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  Ampacet Corporation

  
  


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  Plastika Kritis SA

  
  


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  Tosaf Compounds Limited

  
  


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  LyondelIBasell

  
  


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  Avient Corporation

  
  


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  Penn color Inc

  
  


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  Cabot Corporation

  
  


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  and Primex Plastics

  
  

Black Masterbatch Industry Developments

In November 2020, Cabot Corporation introduced PLASBLAK XP6801D black masterbatch, a novel SAN-based formulation that addresses the needs of the styrenics industry without the traditional trade-off between colour and mechanical qualities.

In January 2021, Avient Corporation expanded its existing colour concentrate production capacity at its Vietnam factory in Binh Duong. The change would increase the speed to market and service level for local customers looking for distinctive colour choices to improve the beauty and appeal of high-quality end products.

In December 2021, BASF recently announced "Sicolen" B, a new bio-based masterbatch for recycled polyethylene that complements its "Colours and Effects" portfolio and contributes to the three solutions under development to make plastics more sustainable: compostable biopolymers, bio-based plastics, and recycled polymers. The BASF Colour Solutions division will market the new masterbatch alongside its traditional Sicolen, "Sicoversal" B, a product certified biodegradable for colouring compostable plastics, and "Sicovinyl" for colouring PVC.

Black Masterbatch Market Segmentation

Black Masterbatch Market By Type Outlook

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  Standard black masterbatch

  
  


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  Specialty black masterbatch

  
  


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  Tailor-made black masterbatch

  
  

Black Masterbatch Market By Carrier Resin Outlook

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  Plastic

  
  


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  Elastomer/Rubber

  
  

Black Masterbatch Market By Application Outlook

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  Packaging

  
  


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  Fibers

  
  


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  Building & Construction

  
  


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  Electrical & Electronics

  
  


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  Automotive

  
  


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  Chemical/Compounding

  
  


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  Others

  
  

Black Masterbatch Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America