Global Masterbatch Market Size To Exceed USD 17.9 Billion By 2033: Market Growth Report

Global Masterbatch Market Size To Exceed USD 17.9 Billion By 2033     

According to a research report published by Spherical Insights & Consulting, The Global Masterbatch Market Size is Expected to Grow from USD 10.3 Billion in 2023 to USD 17.9 Billion by 2033, at a CAGR of 5.08% during the forecast period 2023-2033. 

Browse 210 Market Data Tables and 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global Masterbatch Market Size, Share, and COVID-19 Impact Analysis, By Type (Black and Filler), By End Use (Packaging, Automotive & Transportation), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

The masterbatch market is defined as the worldwide market for concentrated blends of pigments, additives, and polymer resins utilized for coloring and/or giving plastics certain properties during production, with markets across multiple industries such as automotive, construction, and consumer products. Masterbatch is a high-concentration blend of pigments and additives encapsulated in a carrier resin, which is subsequently employed to provide color or certain properties to plastics. Furthermore, growing know-how in packaging across different industries, such as food and beverages, pharmaceuticals, and home and personal care, is supporting the speedy growth of plastic packaging. In addition, masterbatch is combined with base polymers to impart specific qualities and functionalities to the plastic. It is the best technique for coloring plastic, imparting functional as well as coloring properties, and speeding up the degradation of plastics. However, recycled plastics currently contain masterbatch, which pollutes the environment as it contains additives such as coloring agents, stabilizers, and flame retardants. Recycled plastics are not biodegradable, thus posing an issue to firms producing plastic items.

The black segment dominated the largest share in 2023 and is anticipated to grow at a CAGR of 26.5% during the forecast period.

Based on the type, the global masterbatch market is divided into black and filler. Among these, the black segment dominated the largest share in 2023 and is anticipated to grow at a CAGR of 26.5% during the forecast period. The rising demand for tires, PVC containers, and other goods for use in the building and construction, packaging, transportation, automotive, and agricultural sectors is responsible for this growth, as is the growing demand for black masterbatch. It is anticipated that the increasing demand for agricultural products like greenhouse films, shade cloth, drip irrigation tubing and tape, and geomembranes will spur market expansion during the forecast period.

The packaging segment held the highest share in 2023 and is estimated to grow at a CAGR of 25.12% during the projected period.

Based on the end use, the global masterbatch market is divided into packaging and automotive & transportation. Among these, the packaging segment held the highest share in 2023 and is estimated to grow at a CAGR of 25.12% during the projected period. Its strong penetration can be attributed to the packaging sector, encompassing retail, industrial, and consumer packaging and encompassing flexible as well as rigid. An increase in the number of city dwellers who demand packaged products is leading to a higher demand for packaging. 

Asia Pacific is anticipated to hold the highest share of the global masterbatch market over the projected period.

Asia Pacific is anticipated to hold the highest share of the global masterbatch market over the projected period. The development can be related to the presence of a number of end-user industries such as automotive and transport, packaging, construction and buildings, and consumer goods. These industries' development is likely to drive product demand.

North America is estimated to grow at the fastest CAGR of the global masterbatch market during the forecast period. This is initiated by the surging need for high-performance plastic products in the automobile, packaging, and medical markets. Further, the emphasis on product differentiation due to customer interests in specific colors, additives, and functional performance is improving the demand for masterbatches.

Company Profiling 

Major vendors in the global masterbatch market are Ampacet Corporation, Cabot Corporation, Tosaf Group, Clariant AG, Schulman, Inc., Global Colors Group, Plastiblends India Ltd., Hubron International Ltd., Penn Color, Inc., PolyOne Corporation, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development 

• In January 2024, Hubron International Ltd. and Black Swan Graphene Inc. signed a commercial partnership to accelerate the application of Black Swan's graphene products. Hubron, an expert in plastic masterbatch and conductive compounds, uses graphene to enhance functionality in masterbatch solutions. The partnership seeks to introduce graphene into different industries like automotive, construction, and packaging, utilizing Hubron's market presence and masterbatch production expertise.

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global masterbatch market based on the below-mentioned segments: 

Global Masterbatch Market, By Type

• Black
• Filler

Global Masterbatch Market, By End Use

• Packaging
• Automotive & Transportation

Global Masterbatch Market, By Regional 

• North America 
• US
• Canada
• Mexico
• Europe 
• Germany
• UK
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific 
• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific
• South America 
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa 
• UAE
• Saudi Arabia
• Qatar
• South Africa
• Rest of the Middle East & Africa