Ability of Color Masterbatches to Protect Products from UV Exposure-Induced Damage Driving Widespread Use in Packaging Industry

ROCKVILLE, MD, UNITED STATES, August 7, 2024 /EINPresswire.com/ -- Color plays an important role in the world of packaging, and color masterbatches are widely used for this purpose. A new study by Fact.MR reveals that the global color masterbatch market is poised to reach a valuation of US$ 4.55 billion in 2024 and thereafter increase at a CAGR of 5.7% from 2024 to 2034.

Due to the widespread usage of plastic in the packaging industry, there has been a significant increase in the demand for color masterbatches globally. Color masterbatches are used in place of pigments in the packaging industry to provide consistent coloring for products. Black masterbatches hold a substantial market share because of their exceptional attributes, which include UV protection, resistance to heat and cold, and the ability to conduct electricity well. These attributes also make them highly sought after among manufacturers in this business.

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Top of Form Key Takeaways from Market Study
The global color masterbatch market is projected to expand at a CAGR of 5.7% through 2034. Global sales of color additives are estimated at US$ 4.55 billion in 2024. The market is forecasted to reach US$ 7.91 billion by 2034-end.

The North American market is projected to expand at a CAGR of 5.8% through 2034. Slip agent additives are estimated to account for 18.1% market share in 2024. East Asia is projected to account for 38.4% share of the global market by 2034.

“Color masterbatches play a crucial role in the packaging industry by ensuring uniform coloration of products and enhancing their visual appeal. The market is benefitting from their ability to impart heat resistance to products,” says a Fact.MR analyst.

Country-wise Evaluation
There has been substantial growth in the automotive industry in the United States. Color masterbatches have been beneficial in the automotive industry, as wires employed in automotive applications come in a diverse spectrum of colors. Color coding is an essential aspect of the wiring industry. Color coding identifies each wire with its purpose, making it easy to distinguish when servicing or diagnosing any electrical issues.

Extensive consumption of color masterbatches for use in wires for automotive applications is benefitting suppliers in the market. This opens up opportunities for partnerships with key automotive players.

Key Companies Profiled: Schulman Inc., Clariant AG, Plastiblends India Ltd., Plastika Kritis, Polyone Corporation, Ampacet Corporation, Penn Color Inc., RTP Company, Tosaf Group

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Competition Landscape
Important participants in the color masterbatch industry, like Plastika Kritis, Plastiblends India Ltd., Schulman Inc., and Clariant AG, are substantially investing in their manufacturing processes to increase productivity and efficiency. Market participants are working together with other industries where there is potential for expansion. To launch their high-tech manufacturing unit and begin market expansion, new entrants are searching for funding.

Enhancing product quality and expanding relationships across other sectors are the primary priorities of major players in the market. To thrive in the business, key players must comprehend the changing color masterbatch market trends. Color masterbatch suppliers are actively introducing new colors and investing in research to find ways to assert their dominance in the market.

More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the color masterbatch market for 2018 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (standard colors, tailor-made colors, specialty colors), end use (automotive, textiles, medical, aerospace, marine, cosmetics & pharmaceuticals, electronics & electrical, construction, consumer products), and application (nucleating agent additives, scratch & mar additives, slip agent additives, antistatic agent additives, oxygen barrier additives, flame retardant additives, antioxidant additives), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

Explore More Studies Published by Fact.MR Research:
Liquid Masterbatch Market: The global liquid masterbatch market size is estimated at US$ 11.78 billion in 2024 and is projected to reach a size of US$ 19.2 billion by 2034, expanding at a CAGR of 5% between 2024 and 2034.

Additive Masterbatch Market: In 2024, the global additive masterbatch market is expected to be worth US$ 2,041.0 million. The market is anticipated to expand at a CAGR of 4.3% from 2024 to 2034. The market is predicted to grow, reaching a projected value of US$ 3,109.5 million by 2034.

About Fact.MR:
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