Black Masterbatch Market by End-Use Industry (Automotive, Packaging, Electrical & Electronics, Consumer Goods, Agriculture, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 2.50 billion mark in 2022 and is expected to hit US$ 3.58 billion by 2030, recording a CAGR of 4.6% during the forecast period.
Benefits of Black Masterbatch Driving its Demand
Black masterbatches are granular form of carbon black pigments incorporated on virgin resin. Black masterbatches provide multiple benefits over other coloring pigments. Unline other pigments, black masterbatches are in granular form which provide great dispersion. Black masterbatches disperse more evenly on the surface of products as they consist of virgin resins unlike powdered color pigments. This has increased their demand in the plastic manufacturing industry. Moreover, black masterbatches can also be incorporated with specialty additives that improve their properties including UV resistance, abrasion resistance, and overall mechanical properties. Thus, the immense benefits of black masterbatches are driving their demand across various industry verticals such as automotive, geomembrane, and plastic & polymer.
Within the report, the market is segmented into end-use industry and geography. By end-use industry, the market is segmented into automotive, packaging, electrical & electronics, consumer goods, agriculture, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Rising demand for black masterbatches from various end-use industries
Black masterbatches are widely used in the automotive industry as a coloring compound for exterior applications such as bumpers, tires, vehicle bodies, window sealing profiles, headlamp lenses, and bodyside protection strips. Black masterbatch provide high-level color permeance and preserve the color for a longer period. With the rising use of engineering and high-performance plastic in the automotive industry to reduce the overall weight of the automobile and reduce carbon emission, the demand for black masterbatches from the automotive industry has increased significantly. This factor is driving the market growth. Black masterbatches are also widely used to manufacture packaging films and materials. Garbage bags, shopping bags, and other packaging materials are colored using black master batches as they disperse evenly on the surface. Further, black masterbatches are also used to make pipes, tubing, conduits, and deck railings. There is a rising demand for black masterbatches from various end-use industries owing to their diverse applications. This factor is propelling the growth of black masterbatch market over the forecast period.
Surging popularity of recycled black masterbatches
Over the past few years, there is a rise in sustainability concerns owing to climate change, increased environmental pollution, high carbon dioxide emissions, and rise in industrial waste. The rising sustainability awareness has compelled manufacturers to develop black masterbatches with 100% recycled content. They are made with 100% recycled carbon black from post-consumer tires and recycled polyethylene resins. Such products are expected to gain significant momentum in the coming years which will drive the market growth.
Recent strategic developments in black masterbatch market
The black masterbatch market has undergone several significant developments, and a few of these have been mentioned below:
- In November 2020, Cabot Corporation launched PLASBLAK XP6801D black masterbatch which is a SAN-based (styrene acrylonitrile-based) formulation that offers good color and mechanical properties simultaneously, meeting the needs of the styrenics market.
- In July 2020, PolyOne acquired the masterbatch division of Clariant AG.
The black masterbatch market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. LyondellBasell, Avient Corporation, Ampacet Corporation, Cabot Corporation, Plastika Kritis S.A. are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Manufacturers and distributors of black masterbatches
- Government bodies, such as regulating authorities and policy makers
- Automotive components providers
- Electronic and electrical devices manufacturers
- Packaging companies and distributors
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- End-Use Industry:
- Automotive
- Packaging
- Electricals & Electronics
- Consumer Goods
- Agriculture
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- LyondellBasell
- Avient Corporation
- Ampacet Corporation
- Cabot Corporation
- Plastika Kritis S.A.
Companies profiled
- LyondellBasell
- Avient Corporation
- Ampacet Corporation
- Cabot Corporation
- Plastika Kritis S.A.