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The global masterbatch market size was USD 11 Billion in 2022 and is expected to reach USD 18.74 Billion in 2032

NEW YORK CITY, NEW YORK, UNITED STATES, June 27, 2023/EINPresswire.com/ -- Masterbatch Market Overview

The global masterbatch market was valued at USD 11 billion in 2022 and is projected to reach USD 18.74 billion by 2032, with a rapid compound annual growth rate (CAGR) of 6.1% during the forecast period. The market's revenue growth is primarily driven by the increasing demand for plastic products in various industries such as packaging, automotive, construction, and consumer goods. Masterbatch, which is a concentrated mixture of pigments and additives, is used in plastic production to enhance properties like color, ultraviolet (UV) resistance, flame retardancy, and antistatic characteristics.
To meet the rising demand for sustainable and environmentally friendly plastic products, manufacturers are developing masterbatch solutions using recycled and bio-based ingredients. In order to reduce plastic waste and promote sustainability, businesses are incorporating biodegradable and compostable additives into their masterbatch formulations. The packaging sector, in particular, is witnessing a growing need for eco-friendly packaging solutions.

Masterbatch Market Segments

The global masterbatch market was valued at USD 11 billion in 2022 and is projected to witness a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2032. By 2032, the market is expected to reach a revenue of USD 18.74 billion. These estimations are based on historical data from 2020 to 2021, serving as the base year for estimation.
The forecast period of 2022 to 2032 is expected to witness significant growth in the masterbatch market, driven by various factors. The report covers a wide range of parameters including revenue forecasts, company rankings, competitive landscape analysis, growth factors, and industry trends.
The market is segmented based on product types, end-use industries, and regional outlook. This segmentation provides a comprehensive understanding of the different aspects of the masterbatch market, enabling stakeholders to make informed decisions.
Quantitative units for measurement in this market analysis are presented in USD billion. The CAGR from 2022 to 2032 signifies the average annual growth rate during this period.

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Masterbatch Market: Strategic Developments

• In 2021, BASF SE announced the acquisition of Solvay's global polyamide business for €1.6 billion, which will help BASF to expand its business in high-performance materials, engineering plastics, and film applications.
• In 2020, Clariant AG signed an agreement to acquire the masterbatch business of India-based Vishay Intertechnology. This acquisition will help Clariant to expand its business in Asia Pacific and increase its market share in the masterbatch industry.
• In 2020, Cabot Corporation announced a strategic partnership with Shandong Luyan Color Masterbatch Co., Ltd. to expand its product offerings in the Asia Pacific region.

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Masterbatch Market: Competitive landscape

The global masterbatch market is characterized by intense competition, with several prominent players dominating a significant portion of market revenue. These key players employ diverse strategies to maintain their market position, including mergers and acquisitions, strategic agreements and contracts, and the development and introduction of innovative products. Some notable companies operating in the global masterbatch market include BASF SE, Clariant AG, Cabot Corporation, Ampacet Corporation, Plastiblends India Ltd., A. Schulman, Inc., DOW Chemical Company, Colortech Inc., PolyOne Corporation, Tosaf Group, and Adell Plastics, Inc.

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