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Masterbatch Market to amass enormous remuneration via automotive industry

Author : Rahul Varpe | Published Date : 2019-04-12 

Masterbatch market would witness a significant gain in the upcoming years due to the advancements in the automotive industry. Innovation in the automotive industry has led to replacement of metal auto parts for plastic ones. This would drive the demand for polymers in automotive industry, promoting masterbatch market growth by the end of forecast period.

Government investment proposals and stable policy outline for automobile manufacturers in Asia Pacific along with shifting customer preferences toward better living standards with increasing per capita income in the region will significantly impact market growth by 2024. Rising demand for biodegradable products could be another driver supporting this growth.

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Advances in the electronics industry will enhance the demand for masterbatches as it offers required aesthetic and performance characteristics to electronic devices. Rapid urbanization coupled with rising disposable income of consumers in developing countries would elevate the requirement for consumer goods which would further elevate the demand in the masterbatch market in the study period. But issues like expensive raw materials, strict government regulations and widening supply-demand gap could deter the masterbatch market progress in the forecast period.

White product type holds a significant share in the masterbatch market due to its wide usage in various applications. They are primarily composed of titanium dioxide (TiO2) and provide brilliant whiteness to plastic goods. It can resist extreme processing conditions, including sheet & film extrusion, blow/injection molding, preventing strong odor, die build up and heavy smoke that could be initiated by high processing temperatures.

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The major packaging applications of this product are laminations, coating, agriculture, protective films, thin wall packaging, fibers and non-woven, labels, bottles, injection molded articles, etc. This product segment is most likely to exhibit a growth rate of approximately 5% in the forecast period.

Latin America holds a significant share of the masterbatch market which made a revenue of more than USD 250 million in 2024. Increasing demand for the product from Brazil and Mexico would augment the masterbatch market development in the study period. Growing production of automotive parts and components in Latin America owing to local as well as international demand will positively influence the regional masterbatch demand over the coming years.

Major companies of the masterbatch market are A. Schulman, Inc., Plastiblends, DIC Corporation, Hubron International, Tosaf Group, Penn Color, etc.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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