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.
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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.
In a new report titled, “Masterbatches Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025),” Persistence Market Research has not only offered the forecast analysis but has also represented the historical data of the global masterbatches market. On the basis of a robust growth of CAGR- 5.9%, global masterbatches market is expected to witness tremendous growth during the projected period of 8-years, i.e. between 2017 and 2025. This growth is expected to be primarily fuelled by industrialization in developing regions and rising demand in infrastructural development. According to this report, global masterbatches market is estimated to be valued at US$ 32.8 Bn in 2017 and is expected to expand at US$ 50.79 Bn in 2025.
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Global Masterbatches Market: Trends
- Emerging growth in medical applications
- Increasing demand for different masterbatch formulations for flexible and rigid packaging
- Growing advancement in blow molding technology
- High demand for film extrusion masterbatches
- Growing demand for color masterbatches in the food & beverage industry
- Specialty masterbatches in the plastic and fiber segment
- Embracing color masterbatches in various end-use applications
- Increasing demand for masterbatches in the packaging and automotive industry
- Additives – the fastest growing segment of masterbatches
- Pet type anti-block masterbatch
- Flame retardant masterbatches for thermoplastics
Global Masterbatches Market: Forecast by Product
On the basis of product type, the global masterbatches market is segmented into solid masterbatch and liquid masterbatch. Solid masterbatch and liquid masterbatch both are sub-segmented into functional additives, color, black, and white. With an estimated 69.5% of overall market share by value in 2017, the solid masterbatches type is the most prominent product type. Further, the rising demand for color masterbatches in wide range applications, mainly in packaging and automotive, leads to the growth of the product type segment of global masterbatches market during the forecast period. The liquid masterbatches segment is expected to expand at a CAGR of 5.8% in terms of value over the forecast period.
Global Masterbatches Market: Forecast by Application
On the basis of application, the global masterbatches market is segmented into packaging, transportation, cosmetics and pharmaceuticals, electronic and electrical, construction, consumer products and others. Transportation segment is sub-segmented into automotive, aerospace, and marine. The packaging segment is expected to account for a 33.7% value share by 2025, and is expected to expand at relatively high growth rate of 6.4% over the forecast period.
Global Masterbatches Market: Forecast by Region
Five regions have been covered in this report namely, North America, Latin America, Europe, APAC, and MEA. The European masterbatches market is estimated to account for US$ 14.62 Bn by 2017 end, and is projected to expand at a CAGR of 6.1% in terms of value over the forecast period. Technology, product enhancement, and diverse end-user applications of masterbatches are the prime factors boosting the demand in the region. APAC is projected to expand at a CAGR of 6.3% over the forecast period to account for 18.9% value share by 2025. On the other hand North America is expected to grab 23.2% value share in 2017, which is likely to drop down to 23% in 2025.
- BASF SE
- Clariant AG
- Ampacet Corporation
- A. Schulman
- Cabot Corporation
- POLYONE Corporation
- FERRO-PLAST S.r.l.
- Uniform Color Company
- RTP Co.
- Marval industries, Inc.
- Dongguan GreenTech Plastics Co., Ltd
- Standridge Color Corportation
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