The global market size of color masterbatch was USD 3.46 billion in 2015 and is projected to reach USD 4.75 billion by 2021, registering a CAGR of 5.6% between 2016 and 2021. The market is segmented on the basis of type, carrier resin, end-use industry, and region. The increasing use of plastics in Asia-Pacific and South America is driving the market for color masterbatch.
Standard color is the leading segment of the color masterbatch market in 2015. They are used in a wide range of applications due to its mechanical, heat resistance, and weather resistance properties. Some of the applications of standard color masterbatch are packaging sheets & films, plastic bottles & containers, and cables & wire. In addition, technology advancements in the color masterbatch market have aided in developing a wide range of colors and improving the efficiency of end-use products. In 2013, RTP Company produced a long cut masterbatch by combining additive masterbatch and long fiber thermoplastic composites. The new technology strengthened the long fiber product line of the company.
Polystyrene (PS) carrier resin is the fastest-growing segment of the color masterbatch market during 2016 and 202. PS is a synthetic polymer that softens on heating and can be easily converted into films and sheets. PS carrier resins are safe, durable, and less expensive for use in color masterbatch.
Packaging and automotive are the fastest-growing segments of the color masterbatch market because of increasing demand for packaged food and designing innovation in automotive. In addition, the growing importance of color for branding and marketing of products is boosting the growth of the color masterbatch market. Packaging is widely used for industrial and household purposes. In automotive, implementation of stringent regulations on vehicular emissions in developed nations has encouraged automobile manufacturers to focus on weight reduction of vehicles.
Asia-Pacific is the fastest-growing market of color masterbatch during 2016 and 2021. The growing packaging industry coupled with the increased demand from the retail industry drives the market of color masterbatch in the region. End-use industries are witnessing a high growth in developing nations such as India, Indonesia, and Brazil due to growing economies.
Some of the key players operating in the global color masterbatch market are A. Schulman, Inc. (U.S.), Clariant AG (Switzerland), Polyone Corporation (U.S.), Plastiblends India Ltd. (India), and Plastika Kritis S.A. (Greece), and others. Most of the companies have adopted expansions and new product launches as their development strategies to sustain in the market.
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