Color Masterbatch 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 COVID-19 analysis on color masterbatch market is marked to expand at a noteworthy growth rate till the end of 2027.
Color Masterbatch 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.
Color Masterbatch Market 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.
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Color Masterbatch Market Segmentation:
The global color masterbatch industry 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.
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.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of market and industries. Cordially get in touch for more details.
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