LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global additive masterbatch market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio analysts, the global additive masterbatch market will grow at a CAGR of over 6% during the forecast period. A major driver contributing towards the growth of the global additive masterbatch market is the increase in demand from the automotive industry. In the automotive industry, additive masterbatch are extensively used in plastic products that are used in safety airbags, radiator, shrouds, sheet cushions, bumpers, filler tubes, gas caps, clips and connectors, handles, latches, back-lit buttons and switches, armrests, seat pans, slides, levers, bushings, door modules, and front-end modules. The use of plastic parts helps to make automobiles cost-effective, fuel-efficient, and safe. Plastics also increase fuel efficiency and aid in reducing carbon emissions owing to their lightweight nature.
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In this report, Technavio highlights the growing demand for biodegradable resins as one of the key emerging trends in the global additive masterbatch market:
Growing demand for biodegradable resins
The demand for biodegradable plastics is extensively increasing in daily consumer good applications, especially in the packaging industry. Bio-based resins, which are biodegradable base materials used in additive masterbatch in the packaging segment. The growing need for waste management has also propelled the bio-based resin industry. Bio-based resins are expected to be used in various new applications in the future, owing to the emergence of bio-based and renewable raw materials in the developing markets of BRIC.
“Bio-based resins are manufactured from raw materials obtained from sugarcane, wood pulp, soybean, coffee, castor plant seeds, corn, and other renewable sources. They vary from conventional resins and can be used as base materials in additive masterbatches for manufacturing products such as packaging materials, furniture, carpets, films, bottles, and cups. The use of bio-based resins instead of petroleum-based resins leads to a 70% decrease in emissions and the overall carbon footprint,” says a senior analyst at Technavio for research on specialty chemicals.
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Global additive masterbatch market segmentation
This market research report segments the global additive masterbatch market into the following end-users (packaging, automotive, consumer goods, and buildings and construction) and key regions (the Americas, APAC, and EMEA).
The packaging segment held the largest market share in 2017, accounting for nearly 35% of the market. The market share for this end-user is expected to increase by 2022. The fastest growing end-user is packaging, which will account for nearly 36% of the total market share by 2022.
EMEA was the leading region for the global additive masterbatch market in 2017, accounting for a market share of nearly 41%. By 2022, APAC is expected to register the highest growth rate.
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