Amidst the intense rivalry between a large pool of local as well as international players, the global market for solid masterbatches has surfaced as a highly fragmented and a competitive market, finds a new report by Transparency Market Research (TMR). The leading vendors in this market, such as Ampacet Corp., Cabot Corp., Standridge Color Corp., and Marval industries Inc., mainly compete on the basis of price differentiation and the quality of products. Innovation and technological advancements are also the prominent parameters for competition between players in this market.
Over the coming years, the key market players are expected to focus on the development of new products to differentiate themselves from their competitors. Expansion in emerging economies is also projected to emerge as an important strategy for business growth among participants in the years to come, states the research report.
Rise in Automotive Industry to Impact Global Solid Masterbatches Market Positively
“The market for solid masterbatches has attained significant impetus across the world. The rise in the automotive industry is the main factor behind the growth of the global market,” says a TMR researcher. As solid masterbatches is extensively utilized in the production of plastic products, required in safety airbags, sheet cushions, radiator shrouds, bumpers, clips, filler tubes, and connectors, which are important components of automobiles, the rising demand for automobiles is leading to consequent surge in the demand for these masterbatches.
The cost efficiency, fuel efficiency, and high level of safety offered by the plastic made by using solid masterbatches is likely to boost their demand in the automotive industry in the near future, resulting in a high growth of the overall market. Moreover, the market is also projected to gain from the increasing preference for bio-degradable resins over the next few years. However, the volatility in raw materials prices may limit the adoption of these masterbatches in the years to come, which may reflect negatively on this market, notes the research study.
Global Solid Masterbatches Market to Rise at 5.20% CAGR between 2017 and 2022
According to the research report, the overall opportunity in the global market for solid masterbatches is expected to reach US$22.29 bn by 2017. Researchers predict this market to continue its progress at a CAGR of 5.20% during the period from 2017 to 2022, rising to US$28.76 bn by the end of the forecast period. Engineering plastics is expected to emerge as the most valued type of solid masterbatch across the world in the years to come. The automotive and the packaging industries are projected to register a higher demand for solid masterbatches over the next few years.
On the geographical basis, Europe, which is the current market leader, is anticipated to retain its dominance throughout the forecast period. Thanks to the rising demand for contamination-free packaging for pharmaceutical products and bio-plastics, the Europe market for solid masterbatches will expand at a CAGR of 5.0% over the period from 2017to 2022, states the research report.
The review is based on a report by Transparency Market Research (TMR), titled “Solid Masterbatches Market (Product Type - Engineering Plastics Solid Masterbatches, Mineral Filled Solid Masterbatches, PET Solid Masterbatches, Polyolefin Solid Masterbatches, Polypropylene Solid Masterbatches, Additives; End User - Packaging, Automotive, Aerospace, Marine, Cosmetics and Pharmaceuticals, Electronics and Electrical, Construction, and Consumer Products; Color - Black, White, and Color) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2022.”