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Additive Masterbatch market Overview
The increasing demand for plastics in different industries, such as packaging, automotive, and construction, is driving the growth of the market, says Fact.
ROCKVILLE PIKE, MARYLAND, UNITED STATES, June 10, 2024 /EINPresswire / -- The global Additive Masterbatch Market is estimated to be US$ 2,041.0 million in 2024. The market is projected to grow at a 4.3% CAGR through 2034. The market is expected to surpass US$ 3,109.5 million by 2034.
The additive masterbatch market is witnessing growth due to the increasing demand for plastics in different industries such as packaging, automotive, and construction. Additionally, the market is being further propelled by the easy availability of tailored additive masterbatch solutions that cater to the specific needs of various applications.
The market demand for eco-friendly plastics is on the rise due to the growing awareness about the detrimental impacts of plastics on the environment. Additive masterbatch is proving to be an effective solution to develop biodegradable plastics or recycled plastics, meeting the demand for eco-friendly alternatives. As a result, the demand for biodegradable plastics is driving the growth of the additive masterbatch market.
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Rising costs of raw materials, particularly plastics, can have a profound impact on the market. The is that additive masterbatch production involves the usage of different raw materials such as polymers, pigments, and additives. As the prices of these raw materials keep increasing, it may lead to an increase in the production cost of additives, thereby affecting their demand. Furthermore, this could lead to a decrease in profit margins for additive masterbatch manufacturers.
“The additive masterbatch sector is anticipated to maintain its upward trend owing to the rising demand for plastics across diverse end-use sectors, the mounting consciousness about the environmental repercussions of plastic usage, and the accessibility of tailor-made solutions that cater to the distinct demands of diverse applications.” says a Fact analyst.
Key Takeaways from the Market Study
. The global additive masterbatch market is projected to expand at a CAGR of 4.3% through 2034.
. The North America additive masterbatch market is expected to grow at a CAGR of 4.4% from 2024 to 2034.
. The market is expected to register a CAGR of 4.7% over the forecast period in the United States.
. The additive masterbatch market in China is expected to rise at a CAGR of 4.9% through 2034.
. Based on application, the packaging segment leads the market, with an expected market share of 31.0% in 2024.
Competition Analysis
The market is highly competitive, with several major competitors competing for market share. Companies provide a diverse range of additive masterbatch solutions, including UV stabilizers, flame retardants, and antibacterial agents. With increasing demand for high-performance plastics in various end-use industries, the additive masterbatch industry is projected to become more competitive in the coming years.
Some of the prominent companies in the market are Clariant AG, Schulman, Inc., PolyOne Corporation, Plastika Kritis S.A., Plastiblends., Dow, PPM, RTP Company, etc.
Check out More Related Studies Published by Fact Research:
Masterbatch Market Study Solid and Liquid Masterbatches for Packaging, Transportation, Cosmetics & Pharmaceuticals, Electronics & Electricals, Construction, and Consumer Products from 2024 to 2034
Liquid Masterbatch Market By Product Type (Additives, Mineral Oils, Phthalates, Plasticizers or PVC, Polyurethane, Resins), By Color (Black, White), By End Use (Packaging, Aerospace, Marine, Cosmetics & Pharmaceuticals, Electronics & Electricals, Construction, Consumer Products), and By Region – Global Market Report (2024 to 2034)
S. N. Jha
Fact
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