At 5.9% CAGR, Asia Pacific Masterbatch Market is Projected to be Worth US$ 9,825.88 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific masterbatch market was valued at US$ 6,203.48 million in 2023 and is expected to reach US$ 9,825.88 million by 2031, registering a CAGR of 5.9% from 2023 to 2031. Rising demand for black masterbatches from end-use industries and strategic initiatives by key market players are among the critical factors attributed to drive the Asia pacific masterbatch market growth.

Black masterbatch is a cost-effective and widely preferred option in the masterbatch market. It is mostly used in packaging applications for products such as films, bags, bottles, and containers. It provides opacity, UV protection, and aesthetic appeal. Black masterbatch is also suited for the production of hoses and geomembranes due to its properties such as UV and thermal protection. In the automotive industry, black masterbatch is used for interior and exterior components, including dashboards, door panels, trims, and bumpers. Automotive companies use black masterbatch in the production of external body panels, upholstery, and interior trims of luxury cars.

In the construction industry, masterbatch products are utilized for a variety of applications to enhance the performance, durability, and aesthetics of construction materials. Black masterbatch is used to add black color to plastic construction materials such as pipes, fittings, profiles, and roofing materials. Black masterbatch is widely used in the production of plastic pipes and fittings for plumbing and drainage systems. It provides UV resistance and color stability, ensuring durability of pipes. In February 2023, China launched an inbound investment program called the Qualified Foreign Limited Partnership (QFLP), which involved at least US$ 4.37 million of fundraising in its first round. The scheme is aimed at investing in residential and commercial housing projects.

During the 14th Five-Year Plan (2021-2025) period, China plans to allocate 6.5 million government-subsidized rental homes in 40 key cities to assist an estimated 13 million people in need of affordable housing. Nearly 219,000 old residential communities constructed in urban areas before the end of 2000 will most likely be renovated by 2025 to provide more housing. Further, according to the Japan Electronics & Information Technology Industries Association, consumer electronic equipment production in Japan increased by 92.7% from 2021 to 2022. The growth in consumer electronics, packaging, automotive, construction, and other end-use industries bolster the demand for black masterbatches.

On the contrary, fluctuations in raw material prices hamper the growth of Asia Pacific masterbatch market.

Based on type, the Asia Pacific masterbatch market is divided into white, black, additives, color, filler, and others. The white segment held 26.3% market share in 2023, amassing US$ 1,629.35 million. It is projected to garner US$ 2,583.08 million by 2031 to register 5.9% CAGR during 2023-2031.

In terms of polymer, the Asia Pacific masterbatch market is segmented into polyethylene, polypropylene, polyethylene terephthalate, polystyrene, and others. The polyethylene segment held 31.3% share of Asia Pacific masterbatch market in 2023, amassing US$ 1,940.20 million. It is anticipated to garner US$ 3,016.55 million by 2031 to expand at 5.7% CAGR during 2023-2031.

By end-use industry, the Asia Pacific masterbatch market is divided into building and construction, automotive, packaging, agriculture, electrical and electronics, and others. The packaging segment held 46.3% share of Asia Pacific masterbatch market in 2023, amassing US$ 2,873.32 million. It is projected to garner US$ 4,638.82 million by 2031 to expand at 6.2% CAGR from 2023 to 2031.

Based on country, the Asia Pacific masterbatch market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 62.0% share of Asia Pacific masterbatch market in 2023. It was assessed at US$ 3,846.63 million in 2023 and is likely to hit US$ 6,254.74 million by 2031, registering a CAGR of 6.3% during 2023-2031.

Key players operating in the Asia Pacific masterbatch market are Avient Corp, Ampacet Corporation, Cabot Corp, LyondellBasell Industries NV, Plastika Kritis SA, Penn Color Inc, Americhem, and FRILVAM SPA, among others.

• In December 2023, Ampacet Corporation introduced ColorMark, masterbatch additive technology that enables processors to create permanent lettering and designs in intricate detail on dark plastic surfaces. It is compatible with PP, PS, ABS, PC, PA and other engineered resins used in injection molding, thermoforming and sheet applications.
  
  
• In November 2023, Cabot Corporation announced the launch of its new REPLASBLAK product family of circular black masterbatches with certified materials. With this launch, Cabot introduced three products which will be sold as the company's first-ever International Sustainability & Carbon Certification (ISCC PLUS) certified black masterbatch products powered by EVOLVE Sustainable Solutions.

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