DUBLIN--(BUSINESS WIRE)--The "Global Black Masterbatches Market by End-Use Industry (Automotive, Packaging, Infrastructure, Electrical & Electronics, Consumer Goods, Agriculture, Fibers) and Region (APAC, Europe, North America, Middle East & Africa, South America) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The black masterbatches machine market is projected to reach USD 3.0 billion by 2026, at a CAGR of 4.4% from USD 2.4 billion in 2021. Plastics provide superior mechanical, physical, thermal, and electrical properties than metals.
Engineering plastics are widely used in various automotive components such as steering wheels, airbags, seatbelts, bumpers, and dashboards. Continuous innovation and demand for lightweight materials in the automotive industry are encouraging the replacement of metals with plastics.
It is estimated that for every 10% reduction in the weight of vehicles, fuel efficiency can be increased by 7-8%. In addition, plastics offer better design, safety, and environmental sustainability than metals. Automotive and airplane manufacturers utilize lightweight plastics such as PP and PC for windows, hoods, and interior applications.
Automotive is estimated to be the largest end-use industry in black masterbatches market between 2021 and 2026
Plastics are commonly used in the automotive industry for vehicle interiors. Nowadays, the use of plastics for exterior applications has also increased. Some of the vehicle components made of plastics are bumpers, seating, dashboards, windows, screens, light covers, airbags, insulation, seat belts, and door panels.
Plastics used in the manufacture of automotive components are PBT, PET, PVC, ABS, PA, PS, PC, and PE. Implementation of stringent regulations on vehicular emissions in developed nations has led to automobile manufacturers working on weight reduction of vehicles.
As plastic is used for weight reduction in vehicles, the demand for plastics in the automotive industry is increasing rapidly. Black masterbatch is used in exterior applications such as vehicle bodies, bumper, headlamp lenses, body side protection strips, window sealing profiles, and tires in the automotive industry.
APAC is expected to be the largest black masterbatches market during the forecast period, in terms of value and volume
The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The black masterbatches market is growing significantly and offers opportunities for various manufacturers.
The APAC region constitutes approximately 61.0% of the world's population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest black masterbatches market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.
Market Dynamics
Drivers
- Replacement of Metals with Plastics in Automotive Applications
- Widely Preferred Coloring Method
Restraints
- Availability of Low Quality and Cheaper Products
- Extra Storage Space, Longer Lead Time, and Exposure to Heat
Opportunities
- Growth in Emerging Economies
- Growing Demand for Carbon Black Masterbatches in Black Polyester Fibers
Challenges
- Non-Biodegradability of Plastics
- Challenges Due to COVID-19 Impact
Companies Mentioned
- AF-COLOR
- Alok Masterbatch
- Ampacet Corporation
- Astra Polymers Compounding Co. Ltd.
- Avient Corporation
- Blend Colors
- Cabot Corporation
- Gabriel-Chemie Gesellschaft M.B.H.
- Hubron International
- LyondellBasell
- M.G. Polyblends
- Meilian Chemical Co. Ltd.
- O'Neil Color & Compounding
- Plastiblends India Limited
- Plastika Kritis S.A.
- Prayag Polytec PVT Ltd.
- Rajiv Plastic Industries
- RTP Company
- Tosaf Group
- Vanetti S.P.A
For more information about this report visit https://www.researchandmarkets.com/r/w79lcz
