Color masterbatch is referred to as a concentrated blend of pigments or additives which is formed with the help of heating procedures by compressing or encapsulating the concentrate in a carrier resin. Color masterbatch is typically used to color plastics. Color masterbatches are also used in applications such as storage containers, roofing, cables, pipes, toys, electronics, cosmetic articles, seat belts, kitchenware and silage sheets.
Persistence Market Research has recently published a new research publication on color masterbatches market. This research study delivers value by providing insights and analytical forecasts pertaining to the market growth during the period 2017-2022. According to this comprehensive research report, the global color masterbatches market is currently witnessing steady growth and poised to register a CAGR of 5.1%, to reach a significant market share by the end of 2022.
This steady growth of color masterbatches market is influenced by several aspects. There are various benefits of color masterbatches, to name a few, good distribution and dispersion of color across any type of plastic thus eliminating defects due to uneven color distribution, they come in pellet form which simplifies their use, they are simple to handle, and provide better control on transparency and opacity of a colored product. Moreover, special color effects can be added which can distinguish between different products. Due to these advantages, they are widely used by polymer manufacturers.
Demand of color masterbatches is also driven by the requirement for enhanced performance from polymer material which require properties such as flame retardation, UV stabilization, optical brightness, surface resistivity, enhanced transparency, scratch resistance and prevention of yellowing (thermal or oxidative degradation).
Packaging Industry is a Key Influencer for Growth of Global Market
By end user, the packaging segment has shown tremendous potential since past couple of years. This segment soared ahead with high market share and it is expected to continue this trend in the coming years. Globalization coupled with enhanced lifestyle has spurred the demand for color masterbatches from the packaging sector. The rising demand for more innovative and colorful solutions from the packaging sector coupled with increasing preference for polymers and plastics has increased the consumption of color masterbatches thus contributing to the growth of the global market.
Europe to Remain a Highly Lucrative Region
Europe region reflected high market attractiveness, in terms of demand and production. It held a significant market share in the global color masterbatches market, thus leading the market in 2016. In 2017, Europe shows similar trend, and is estimated to grow at a CAGR of 4.7% throughout the period of forecast, 2017-2022. The main factor contributing to Europe’s lucrativeness with respect to color masterbatches is the growing penetration of masterbatch in markets of engineering polymers as a substitute for compounds.
Asia-Pacific excluding Japan (APEJ) region has also shown tremendous development in the global color masterbatches market. This region is projected to soar at 5.2% CAGR during 2017-22, owing to rapid increase in the use of color masterbatches in industries such as automotive and packaging. Plastics are widely used in automotive industry which reduces weight of the vehicle, lessens carbon emission and enhances overall vehicle efficiency and performance. This gives good opportunity for the growth of color masterbatches market in this field, as they are widely used in coloring plastics and enhancing its properties. Moreover, research and development has taken a new turn in APEJ region, where players are highly investing in R&D to introduce new cost efficient methods for production of color masterbatches and application techniques, also to enhance product’s operational efficiency, quality and energy efficiency. These factors have a positive influence over the color masterbatches market in this region.
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Tailor-Made Color Segment to Witness High Growth
By product type, the tailor-made color segment is expected to show high market share in the coming years. It is estimated to grow at a high CAGR of 5.6% during the forecast period. Tailor-made masterbatches provide correct formulations to produce different colors as per choice at a lower pricing without compromising on quality during the process, as compared to other segments in this category. This has pushed the consumption of tailor-made color masterbatches in the recent years.
Global Color masterbatches Market: Competitive Landscape
The global market study on color masterbatches includes detailed analysis on the key players involved in the market. The manufacturer and supplier analysis is essential for every market participant with a view to gain competitive advantage. Companies such as BASF SE, Polyone Corporation, A. Schulman, Clariant AG, Ampacet Corporation, Techmer PM Inc., Standridge Color Corporation, Ferro-Plast Srl, Cabot Corporation, Uniform Color Company, Inc., Americhem, RTP CO and Marval Industries Inc., are profiled in the global color masterbatches market.