Global Black Masterbatch Market anticipated growing to USD 1.86 BN by 2024
Masterbatch (MB) is a solid or liquid form additive used for plastic to impart color and enhance useful properties of plastics. It is a concentrated mixture of pigments or additives encapsulated during the heating process into a carrier resin which is then cooled and cut into a granular shape. Different types of master batches are available in the market such as white, black, color, additive, and filler. Among these, the black masterbatch is very popular, it is composed of excessive carbon black, carrier resin and dispersant. The global black masterbatch market is expected to grow at a CAGR of 5.60% from USD 1.27 Billion in 2017 and reach USD 1.86 Billion by 2024.
It allows the processor to color raw polymer economically during the plastic manufacturing process. Also, black masterbatch can be modified to suit color, heat or UV requirements.
As, black masterbatch contain 50% of carbon black in its composition which makes it suitable to be used as the black pigment in many plastic applications such as molding, injection molding, HDPE pipe, and monofilament. Not only in aforementioned applications but black masterbatch is also largely used in agricultural, packaging, electronics, textiles and nonwovens, wire & cable, automotive and construction. Thus, rising automotive and construction sectors are the major factor motivating the growth of black masterbatch market. Growth of black masterbatch is directly associated with the consumption of polymer across the world. In addition to this, growing production of plastic products and components, steady economic growth, innovation in packaging products, and rapid industrialization are the major aspects raising the market of the black masterbatch.
Additionally, with the arrival of new packaging technologies such as antioxidant, UV resistant, heat resistant, antimicrobial, and anti-fog packaging, the usage of black masterbatch has surged significantly over the last few years. Moreover, the growth is further expected to stimulate due to increasing consumer preference for customized plastic products in packaging, appliance, textile, automotive, pharmaceutical and consumer goods industries. Furthermore, the rising focus on the use of plastic in the automotive sector in order to reduce the vehicle weight is driving the demand for different types of plastic which need black masterbatch for imparting functional properties. Thus, the growth of black masterbatch market is expected to rise on the ground of rising automotive production worldwide.
The report “Global Black Masterbatch Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast 2017 to 2024
” anticipates Asian countries like China and India to be lucrative markets for black masterbatch owing to the growth in industrialization along with the increase in packaging industry which represents the largest end-user market. In order to reduce carbon emission and improved fuel efficiency, the demand for a lightweight vehicle is escalating in the European market which is likely to propel the demand for black masterbatch in the region. Future growth is forecasted to come from the emerging economies and demand from the end-user market for multi-property formulation of plastics. Moreover, with the evolving advanced technology in order to improve performance of plastic is expected to charge the growth in the near future.
However, strict environmental regulation regarding non-bio-degradability of plastics poses a challenge to the market. Volatile price of raw material is also expected to impede the growth of black masterbatch.
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