Sellbyville, DE -- (SBWIRE) -- 05/06/2019 -- Global Market Insights recently introduced new report on global Masterbatch market with an in-depth study providing complete analysis of the industry size, share and statistics for the period 2019 to 2024. It also provides complete overview of Masterbatch industry considering all the major industry trends, market dynamics and competitive scenario.

Masterbatch Market in Latin America holds a significant share of the overall 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 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.

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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 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 masterbatch market growth by 2024. Rising demand for biodegradable products could be another driver supporting this growth.

Masterbatch Market Product by End-user:
- Black:
o Automotive
o Consumer goods
o Packaging
o Agriculture
o Construction
o Others

- White:
o Automotive
o Consumer goods
o Packaging
o Agriculture
o Construction
o Others

- Color:
o Automotive
o Consumer goods
o Packaging
o Agriculture
o Construction
o Others

- Additive:
o Automotive
o Consumer goods
o Packaging
o Agriculture
o Construction
o Others

Masterbatch Market by End-user:
- Automotive
- Consumer goods
- Packaging
- Agriculture
- Construction
- Others

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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 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.

Construction is an important end-user section owing to the product usage in plumbing systems such as pipes, valves, tanks; electrical systems such as switches, wires & cables; insulation materials, etc. The product is an ideal fit for these applications as it offers various performance features like UV resistance, color fastness, mechanical stability, flame retardancy puncture and tear resistance. This sector would propel at a rate of more than 5% in the study period.

The Masterbatch Market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the Masterbatch market based on product, technology, end user and region.

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Major companies of the masterbatch market are:
- Schulman Inc.
- Plastiblends
- DIC Corporation
- Hubron International
- Tosaf Group
- Penn Color

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.

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