Report : South & Central America Masterbatch Market Forecast to 2031 - Regional Analysis - by Type (White, Black, Additives, Color, Filler, and Others), Polymer (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polystyrene, and Others), and End-use Industry (Building and Construction, Automotive, Packaging, Agriculture, Electrical and Electronics, and Others)
At 3.9% CAGR, South & Central America Masterbatch Market is Speculated to be Worth US$ 819.88 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the South & Central America masterbatch market was valued at US$ 603.58 million in 2023 and is expected to reach US$ 819.88 million by 2031, registering a CAGR of 3.9% from 2023 to 2031. Adoption of biodegradable and compostable masterbatch and strategic initiatives by key market players are among the critical factors attributed to drive the South & Central America masterbatch market growth.
Bio-based polymers are environmentally friendly and are the subject of extensive research in various fields. Biodegradable materials exhibit sustainability, thereby driving their use in commercial applications. The easy availability of natural raw materials for the production of biodegradable polymers is an added factor fueling its supply and demand. Further, increasing awareness regarding environmental concerns such as plastic pollution and waste management propels the demand for sustainable alternatives to conventional plastics. Biodegradable and compostable masterbatch offer solutions to mitigate environmental impact by reducing plastic waste and promoting circular economy principles.
Stringent government regulations pertaining to the utilization of toxic chemicals across the world have encouraged many market players to develop nontoxic and biodegradable alternatives, aiding global sustainability goals. Key market players are also focused on the development of technology to produce a post-consumer recyclate carrier resin. Masterbatches can also be produced using a post-consumer recyclate carrier resin to enable recyclates and articles to be produced with the minimum virgin polymer content. In 2023, Braskem and Engeflex developed a masterbatch composed of 100% Wenew post-consumer recycled resin. By 2025, the company aims to enhance its product portfolio by ~300,000 metric tons of products with recycled content. In 2030, the company aims to dispose of ~1.5 million metric tons of plastic waste for incineration and landfills. Thus, the development of biodegradable and compostable masterbatch is expected to positively influence the South & Central America masterbatch market in the coming years.
On the contrary, fluctuations in raw material prices hamper the growth of South & Central America masterbatch market.
Based on type, the South & Central America masterbatch market is divided into white, black, additives, color, filler, and others. The white segment held 32.0% market share in 2023, amassing US$ 193.15 million. It is projected to garner US$ 261.37 million by 2031 to register 3.9% CAGR during 2023-2031.
In terms of polymer, the South & Central America masterbatch market is segmented into polyethylene, polypropylene, polyethylene terephthalate, polystyrene, and others. The polyethylene segment held 35.3% share of South & Central America masterbatch market in 2023, amassing US$ 263.63 million. It is anticipated to garner US$ 350.71 million by 2031 to expand at 3.6% CAGR during 2023-2031.
By end-use industry, the South & Central America masterbatch market is divided into building and construction, automotive, packaging, agriculture, electrical and electronics, and others. The packaging segment held 49.9% share of South & Central America masterbatch market in 2023, amassing US$ 300.92 million. It is projected to garner US$ 430.66 million by 2031 to expand at 4.6% CAGR from 2023 to 2031.
Based on country, the South & Central America masterbatch market is categorized into Brazil, Argentina, Costa Rica, Guatemala, Ecuador, Columbia, and the Rest of South & Central America. Our regional analysis states that Brazil captured 29.6% share of South & Central America masterbatch market in 2023. It was assessed at US$ 178.66 million in 2023 and is likely to hit US$ 256.57 million by 2031, registering a CAGR of 4.6% during 2023-2031.
Key players operating in the South & Central America masterbatch market are Avient Corp, Ampacet Corporation, Cabot Corp, LyondellBasell Industries NV, Penn Color Inc, 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.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com