DUBLIN--(BUSINESS WIRE)--The "Filler Masterbatch Market Size, Share & Trends Analysis Report By Carrier Polymer (Polypropylene, Polyethylene), By Application (Injection & Blow Molding, Films & Sheets, Tapes), By End Use, By Region, And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global filler masterbatch market size is anticipated to reach USD 521.8 million by 2028. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028.
The market is anticipated to grow well due to the use of filler masterbatches for providing color variants and imparting other properties to plastic materials used in the automotive, packaging, building and construction, and consumer goods industry across the globe. Calcium carbonate is commonly used as filler in the plastic industry which helps in reducing plastic melting pressure when shaping plastic into product forms.
Calcium carbonate as a filler masterbatch material acts as a relatively good stabilizer to improve bubble floatation in the production of plastic beads in achieving a smooth and beautiful surface finish. Filler masterbatch helps manufacturers across various industries reduce the production costs and results in increased durability, hardness, impact resistance, and adhesive properties along with improving the opacity and glossiness of the end product's surface. It is used in combination with a wide variety of plastics ranging from thermoplastics, flexible plastics, and rigid plastics.
The building and construction industry has witnessed growth in recent years due to the growing population and increased urbanization resulting from increased job opportunities and better living conditions. Polyethylene and polypropylene are some of the most widely produced plastics in the world. Polypropylene is used for a variety of plastic building materials products that require fatigue and heat resistance. Some common applications include piping systems, electric cable insulation, plastic machine parts, and carpeting. The use of polypropylene in the production of construction materials is expected to drive the market for polypropylene carrier polymer in filler masterbatch.
Key players are carrying out strategic initiatives such as mergers and acquisitions to strengthen their position in the market. For instance, in July 2020 PolyOne Corporation completely acquired the masterbatch business of Clariant a Swiss multinational specialty chemicals company at USD 1.56 billion and was renamed to Avient. This acquisition is expected to provide PolyOne Corporation complete control of the Clariant Masterbatch business which includes 46 manufacturing operations and technology centers in 29 countries.
Some of the masterbatch manufacturers are executing various expansion plans by establishing new manufacturing facilities to cater to the rising demand for plastic requirements in the automotive, packaging, and consumer goods industry. For instance, in March 2021, JJ Plastalloy announced opening a new manufacturing facility in Gujarat to provide masterbatches and compounds for thermoplastic products.
Filler Masterbatch Market Report Highlights
- The market was valued at USD 307.0 million in 2020 and is estimated to witness a CAGR of 7.0% from 2021 to 2028
- The films and sheets segment is expected to witness the highest CAGR of 7.5% over the forecast period in terms of revenue. The significant CAGR is attributed to the rising demand for packaging films in the food and consumer goods industry
- The injection and blow molding application segment dominated the market and accounted for a revenue share of over 50.0% in 2020. This high share is attributed to the growing use of polyethylene and polypropylene as carrier polymer in injection and blows molding applications for the manufacturing of consumer goods like water and soda, shampoo bottles, hair combs, bottle caps, and other products
- The growing demand for plastics as a replacement material of metals in end-use industries including automotive due to various advantages such as reduction in vehicle weight, cost, and production time is expected to drive the market for filler masterbatch
- Asia Pacific accounted for a revenue share of more than 50.0% in 2020 and is expected to witness a CAGR of 7.2% over the forecast period
Market Dynamics
Drivers
- Increasing Demand for Plastics in Packaging Industry
- Growing Replacement of Metal by Plastic in End-Use Industries
Restraints
- Stringent Environment Regulations
Challenges
- Consumer Spending Capacity
- Availability of Low Quality and Cheap Products
Companies Mentioned
- A Dong Plastic Joint Stock Company (Adc Plastic Jsc)
- Alok Masterbatches Pvt. Ltd.
- An Tien Industries
- Aurora Global Colors Oy
- Bajaj Superpack India Ltd.
- Cabamix
- Eco Green Plastic Jsc
- European Plastic Company
- Ferro Plastics
- Gcr Group
- Heritage Plastics, Inc.
- Masterbatch Sa (Pty) Ltd.
- Megaplast
- Pha Le Plastics Manufacturing
- Phu Lam Import Export Company Limited
- Plasper
- Plastiblends
- Plastika Kritis S.A.
- Pmj Joint Stock Company
- Shivam Polychem
- Us Masterbatch Jsc
- Vh-Fb Euro Ltd.
- Vina Color (Vietnam Colour Trading And Manufacturing Co., Ltd.)
- Vinares
For more information about this report visit https://www.researchandmarkets.com/r/ou2epl
