The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
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Liquid masterbatches are used as a raw material in the processing of plastics in order to impart color or other special properties to the end product. There is an increased use of plastics the world over and this is driving the liquid masterbatches market along with a growing demand from end use sectors like automobiles, packaging and healthcare. The other factor propelling the growth of the liquid masterbatches market include increasing demand for colorful and innovative solutions from the luxury goods packaging industry. Due to such increasing demand of plastics used for packaging, the demand for liquid materbatches also rises consequently. Same can be said of the automotive sector, where there is an increasing preference for the manufacturing of vehicles with light weight, thereby replacing the metal components. In the manufacturing of such light weight vehicles, plastics and polymers are used on a large scale, which in turn is boosting the liquid masterbatches market.
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The global liquid masterbatches market is slated to touch a value of about US$ 11,600 Mn in the year 2022 and grow at a robust CAGR during the assessment period.
4 Forecast Highlights on Global Liquid Masterbatches Market
- As per the forecast of Persistence Market Research, the mineral oil segment is slated to touch a value of nearly US$ 3,260 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The mineral oil segment is estimated to account for more than one-fourth of the revenue share of the product type segment by the year 2017 and is forecasted to gain market share by 2022 over 2017.
- As per the forecast of Persistence Market Research, the automotive segment will reach a value of nearly US$ 270 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The automotive segment is forecasted to account for a miniscule percentage of the total revenue share of the end-user segment by the end of the year 2017 and is expected to gain in market share by 2022 as compared with the year 2017.
- As per the forecast of Persistence Market Research, the black color type segment is slated to reach a value of nearly US$ 3,850 Mn in 2022. The black color type segment is expected to lose market share by the end of the year 2022. The largest share is contributed by the Europe region in the black color type segment.
- Persistence Market Research forecasts the Germany liquid masterbatches market to exhibit a compound annual growth rate (CAGR) of 5.7% from 2017 to 2022.
- Americhem Inc
- Ferro-Plast Srl
- BASF SE
- Polyone Corporation
- A. Schulman
- Clariant AG
- Ampacet Corporation
- Techmer PM Inc.
- Marval Industries Inc.
- RTP CO.
- Standridge Color Corporation
- Uniform Color Company, Inc
- Cabot Corporation
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