Black Masterbatches Market by End-Use Industry (Automotive, Packaging, Infrastructure, Electrical & Electronics, Consumer Goods, Agriculture, Fibers) and Region(APAC, Europe, North America, Middle East & Africa, South America) – Global Forecast to 2026

2021-04-29
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Published : Apr-2021
No. of Pages : 235
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“Growing demand from the automotive industry”

The black masterbatches machine market is projected to reach USD 3.0 billion by 2026, at a CAGR of 4.4 % from USD 2.4 billion in 2021. Plastics provide superior mechanical, physical, thermal, and electrical properties than metals. Engineering plastics are widely used in various automotive components such as steering wheels, airbags, seatbelts, bumpers, and dashboards. Continuous innovation and demand for lightweight materials in the automotive industry are encouraging the replacement of metals with plastics. It is estimated that for every 10% reduction in the weight of vehicles, fuel efficiency can be increased by 7–8%. In addition, plastics offer better design, safety, and environmental sustainability than metals. Automotive and airplane manufacturers utilize lightweight plastics such as PP and PC for windows, hoods, and interior applications.

“Automotive is estimated to be the largest end-use industry in black masterbatches market between 2021 and 2026.”

Plastics are commonly used in the automotive industry for vehicle interiors. Nowadays, the use of plastics for exterior applications has also increased. Some of the vehicle components made of plastics are bumpers, seating, dashboards, windows, screens, light covers, airbags, insulation, seat belts, and door panels. Plastics used in the manufacture of automotive components are PBT, PET, PVC, ABS, PA, PS, PC, and PE. Implementation of stringent regulations on vehicular emissions in developed nations has led to automobile manufacturers working on weight reduction of vehicles. As plastic is used for weight reduction in vehicles, the demand for plastics in the automotive industry is increasing rapidly. Black masterbatch is used in exterior applications such as vehicle bodies, bumper, headlamp lenses, body side protection strips, window sealing profiles, and tires in the automotive industry.

“APAC is expected to be the largest black masterbatches market during the forecast period, in terms of value and volume.”

The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The black masterbatches market is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0% of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest black masterbatches market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.

The increasing population in the region accompanied with development of new technologies and products are projected to make this region an ideal destination for the growth of the black masterbatches market. However, establishing new plants, implementing new technologies, and creating a value supply chain between raw material providers and manufacturing industries in the emerging regions of the APAC are expected to be a challenge for industry players as there is low urbanization and industrialization. Booming automotive, consumer goods and packaging sectors and advances in process manufacturing are some of the key drivers for the market in the APAC. Countries such as India, Indonesia, and China are expected to witness high growth in the black masterbatches market due to the increasing demand from the automotive industry.

In the process of determining and verifying the market size for several segments and sub segments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:

  • By Company Type: Tier 1 – 69%, Tier 2 – 23%, and Tier 3 – 8%
  • By Designation: C-Level – 23%, Director Level – 37%, and Others – 40%
  • By Region: North America – 32%, Europe – 21%, APAC – 28%, Middle East & Africa – 12%, and South America-7%

Key players in this market are LyondellBasell (US), Avient Corporation (US), Ampacet Corporation (US), Cabot Corporation (US), Plastika Kritis S.A. (Greece), Plastiblends India Ltd. (India), Hubron International (UK), Tosaf Group (Israel), and Penn Color, Inc. (US). The global and regional players have sizable shares in the black masterbatch market. The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally.

Research Coverage

This report segments the market for black masterbatches market on the basis of end-use industry and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for black masterbatches market.

Reasons to buy this report

This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the black masterbatches market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on black masterbatches  market offered by top players in the global  black masterbatches market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the black masterbatches  market
  • Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for black masterbatches market across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global black masterbatches market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the black masterbatches market
  • Impact of COVID-19 on black masterbatches market
Filed in: Chemicals
Publisher : marketsandmarkets
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