Color Concentrates Market: Additive Masterbatches
- Color concentrates are used in plastic polymers to give color to plastic, which are bland and boring.
- Color concentrates are used in the form of solid color and additive masterbatches. The color concentrates offers various significant advantages such as better performance, storage, cleanliness, and ease of use offer various significant advantages over pre-colored resins, liquid colors or raw pigments in most plastic applications.
- Color concentrates are also used in liquid form and added accurately in small amounts in the manufacturing of plastic products
- In terms of application, packaging is the leading segment of the global color concentrates market. Different color packaging of bottles, containers, cosmetic tubes, bags, caps, etc., use color concentrates to distinguish products and offer an attractive look to the products.
- Color concentrates are used to color automotive parts and appliances, and flexible food & beverages packaging.
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Key Drivers for Global Color Concentrates Market
- The global color concentrates market is driven by the increase in use of aesthetics packaging industry. Rise in demand for packaged food is augmenting the demand for color concentrates in packaging industry.
- The global color concentrates market is also driven by the increase in demand for plastic materials, as these materials have superior characteristics, including heat resistance, chemical stability, and can easily blended in plastics.
Automotive Segment to Offer Lucrative Opportunities
- Automotive segment is expected to provide lucrative opportunities for color concentrate manufacturers in the near future. The scenario of automotive industry is going to change after 2020, and most of the vehicles are going to be electric vehicles.
- Electric vehicles mainly consists of plastics and composites. Moreover, metal parts are being replaced by plastic components, thus augmenting the use of color concentrates in vehicles.
Non-recyclability of Plastics to Hamper Market
- The major challenge currently being faced by companies is recycling of plastics. Color concentrates are blended into plastics, which cannot be recycled. Only 9% of the global plastics is recycled, while others are disposed in landfills.
- Increase in cost of color matching is hampering the demand for color concentrates. Moreover, it is not suitable for use in some applications.
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Asia Pacific Expected to Hold Major Share of Global Color Concentrates Market
- The global color concentrates market can be segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a leading consumer of color concentrates, followed by North America and Europe. In Asia Pacific, China is estimated to be the most prominent market for color concentrates due to the increase in demand from various end-use industries. India, Japan, Indonesia, and Thailand are the main countries contributing to the growth of the color concentrates market in Asia Pacific.
- The global color concentrates market is expanding in North America due to brand development activities, innovation, and favorable environment to develop products with enhanced properties.
- Europe also holds a significant share of the global color concentrates market due to the presence of major players, such as BASF SE, and Penn Colors, in the region
- Rise in imports of color concentrates in Latin America and Middle East & Africa due to their excellent cleaning properties is likely to boost its demand in these regions
Key Market Players
The global color concentrates market is highly concentrated with leading manufacturers accounting for approximately 20%-30% share of the market. Key players operating in the color concentrates market include:
- Plastics Color Corporation
- Chroma Color Corporation
- Mexichem Specialty Compounds Inc.
- Penn Color Inc.
- COLOR MASTER INC
- Colortech Inc.
- Teknor Apex
- Ampacet Corporation
- RTP Company
- PolyOne Corporation
- A. Schulman
Global Color Concentrates Market: Research Scope
Global Color Concentrates Market, by Polymer
- Engineering plastics
- Thermoplastic elastomers (TPE)
Global Color Concentrates Market, by Technology
- Injection molding
- Blow molding
Global Color Concentrates Market, by Application
- Consumer products
- Medical & healthcare
- Electrical & electronics
- Building & construction
Global Color Concentrates Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.