Q. Masterbatch Market Pegged for Robust Expansion by 2028?
Masterbatch Market Pegged for Robust Expansion by 2028?
Stratview Research has published a new report titled “Masterbatch Market” which is segmented by Type (Color, White, Black, Additive, and Filler), by Polymer Type (PP, LDPE/LLDPE, HDPE, PVC, PUR, PET, PS, and Others), by Application Type (Packaging, Building & Construction, Consumer Goods, Automotive, Textile, Agriculture, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market was estimated to grow from USD 11.43 Billion in 2021 to USD 16.27 Billion by 2028 at a CAGR of 5.11% during the forecast period of 2022-2028.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
The Color Type held the largest share of the market in 2021 and is expected to remain dominant during the forecast period.
The market is segmented as color, white, black, additive, and filler. Increasing use of color masterbatch in packaging, building & construction, automotive, consumer goods, agriculture, and textile industries is the major factor behind the dominance of the segment.
The Polypropylene (PP) Segments holds the market share of >23.8% of market in 2021 and market is also expected to witness a healthy growth during the forecast period.
The market is segmented as PP, LDPE/LLDPE, HDPE, PVC, PUR, PET, PS, and Others. Polypropylene’s demand as a carrier polymer is expected to rise due to its superior mechanical strength and flexibility. Polypropylene also improves surface quality. Because it is lightweight, it is utilised to replace metal components in the automotive sector. All of these reasons are projected to drive the polypropylene segment’s growth during the forecast period.
The Packaging Segment holds the largest share of >24.2% the market and is also expected to witness a healthy growth during the forecast period.
The market is segmented as packaging, building & construction, consumer goods, automotive, textile, agriculture, and others. Expanding range of packaging in a wide array of industries including building & construction, consumer goods, electricals & electronics, personal care, medical, household, and other industries is the major factor driving the growth of the segment.
Which Region is expected to remain the largest market?
Asia-Pacific holds the largest share >31% of market in 2021 and is fastest-growing market during the forecast period, with China, Singapore, South Korea, Japan, and India being the major countries with lucrative growth opportunities.
The growth of the market is majorly driven by significant economic development in the regions, rapidly expanding construction industry, and presence of huge consumer base.
North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Masterbatch Market:
A. Schulman, Inc.
Plastika Kritis S.A.
Plastiblends India Ltd.
Penn Color, Inc.
Key questions answered by the report:
What is the projected CAGR for revenue from the Masterbatch Market during the forecast period?
What would be the market be valued at by 2028?
What is a major driving factor for growth of the market?
Which region accounted for largest revenue share in the Masterbatch Market?
* Which are the major market players?
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