Pune, India, Nov 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Additive Masterbatch Market.
Global Additive Masterbatch Market Overview
The global additive masterbatch market is projected to witness significant growth during the review period, exhibiting a CAGR of 6.35%. The market was estimated to be USD 2,128.09 million in 2021 and is expected to reach a value of USD 3,789.42 million by the end of the forecast period (2022-2030).
A concentrate in granular form for altering thermoplastics is called an additive masterbatch. A polymer-specific carrier resin and one or more additives make up additive masterbatches. There are various types of additives such as antimicrobial, antioxidant, flame retartdant and many more. Plastics degrade primarily as a result of oxidation and thermal ageing. Loss of mechanical qualities including impact resistance, elongation, and tensile strength can also be a consequence of oxidation. In order to prevent thermo-oxidative breakdown, antioxidant masterbatches are created for use at every stage of the production, drying, and processing of plastics, as well as during final usage. They are especially well suited for application in PP, LDPE, and HDPE. Whereas flame retartdant additive masterbatch work in a way that prevents oxygen on the plastic surface from heat by creating a protective surface layer.
The global additive masterbatch market is characterized by the presence of many regional and local vendors. The market is highly competitive, with all the players competing to gain maximum market share. The increasing additive masterbatch demand from the packaging, building & construction sector is the key driver of the market. The vendors compete based on cost, product quality, and the availability of the products according to the geographies. The vendors must provide cost-effective and high-quality additive masterbatch to compete in the market. The competitive scenario is fragmented between the tier-1, tier-2, and tier-3 companies, while tier-1 and tier-2 companies hold over 60% of the global market share.
The market players' growth depends on the market and economic conditions, government regulations, and industrial development. Thus, the players should focus on expanding the production capacity to meet the demand and enhance their services. LyondellBasell Industries Holdings B.V., Avient Corporation, Plastika Kritis S.A., Plastiblends India Limited, and Dow are the major companies in the market currently competing in terms of quality, price, and availability.
BY CARRIER RESIN
- POLYETHYLENE (PE): The polyethylene segment held a market share of 32.53% in 2021 and is expected to register a CAGR of 7.10% during the forecast period. Polyethylene Additive masterbatch is based on a unique polyethylene blend that includes base polyethylene, elastomeric olefins, and active additives. The composition is used as a cling agent (adhesion promoter) in the production of stretch wrap films from LLDPE or LDPE, both of which have a high molecular weight. The presence of polyisobutylene, polyethylene, and matrix results in excellent stickiness in dry, free-flow granules. It eliminates smells from household packaging, post-agricultural films, decayed waxes, elastomers, and plasticizers. During the re-granulating process, the plant reduces odor.
- POLYPROPYLENE (PP): The polypropylene segment held a market share of 30.23% in 2021 and is expected to register a CAGR of 6.52% during the forecast period. Antifog additive concentrated in a PE/PP carrier makes up an additive masterbatch. Dessicant function performed by additive masterbatch, including PP carrier resin.
- POLYSTYRENE (PS): The polystyrene segment held a market share of 5.73% in 2021 and is expected to register a CAGR of 5.63% during the forecast period. Styrene-based additives offer reduced shear, increased output, improved melt temperature control, less melt friction, and no adverse effects on flame retardancy.
- POLYVINYL CHLORIDE (PVC): The polyvinyl chloride segment held the market share of 7.76% in 2021 and is expected to register a CAGR of 5.14% during the forecast period. PVC, polyolefins and other polymers are highly sensitive to laser radiation. PVC Masterbatch is a concentrated blend of pigments and/or additives heated in a carrier resin, encapsulated during the heating process, cooled, and then chopped into granular form. Using the Masterbatch, the plastics transformer can affordably color natural polymer during the transformation process.
- POLYETHYLENE TEREPHTHALATE (PET): The polyethylene terephthalate segment held the market share of 16.33% in 2021 and is expected to register a CAGR of 6.27% during the forecast period. PET masterbatches are widespread on the market due to their vibrant colors and low dosages. PET masterbatches provide excellent light fastness and color consistency and can endure high processing temperatures. A wide variety of PET applications is provided by PET masterbatches, including fiber, bottle, sheets, BOPET films, POY, FDY, PET sheets, and monofilament. Pharmaceutical bottles, mineral water bottles, beverage bottles, household & cosmetic bottles, oil bottles, different beauty products, chemical bottles, pesticide bottles, injection molding trays & tubs are all made using PET masterbatches.
- OTHERS: The others segment includes biodegradable polymers, EVA, and others. The segment held the market share of 7.51% in 2021 and is expected to register a CAGR of 3.94% during the forecast period.
- ANTIMICROBIAL: The antimicrobial segment held a market share of 37.52% in 2021 and is expected to register a CAGR of 7.00% during the forecast period. All surroundings contain microscopic organisms like fungi and bacteria, albeit they are invisible to the unaided eye. On plastic surfaces, bacteria, fungi, mildew, and mold rapidly reproduce and develop by limiting the development of these microorganisms; CESA-antimicro masterbatches aid in preventing undesirable odors, color changes, and surface degradation of plastic components.
- ANTIOXIDANT: The antioxidant segment held a market share of 20.82% in 2021 and is expected to register a CAGR of 6.42% during the forecast period. Antioxidant Masterbatch can be used for protection during the actual production phase and to preserve completed goods from deterioration by preventing oxidation. Antioxidant Masterbatch offers additional defense by avoiding gel formation and black spot development during manufacture. Higher throughput results from the enhancement in process stability; this is particularly significant if the polymer is reheated. The antioxidant masterbatch aids in maintaining the product's mechanical and glossary characteristics. Exposing the surface to sunshine, high temperatures, frictional heat, and machine idle prevent surface degradation (yellowing phenomena) and oxidation. Its uses range from pipes and profiles to films, injection-molded components, blow-molded products, and tanks. It is used in foams, films, and packaging, as well as pipes and fittings.
- FLAME RETARDANTS: The flame retardants segment held a market share of 30.89% in 2021 and is expected to register a CAGR of 6.12% during the forecast period. Simply by incorporating flame-retardant chemicals in various households, safe use of those products can be ensured. Flame Retardant Masterbatch creates barriers resistant to flames, slowing the combustion of plastic. These masterbatches are perfect for usage in all engineering thermoplastics due to their great temperature endurance. It has characteristics like increasing plastic's resistance to combustion, decreasing the pace at which flames spread, decreasing smoke and burning, lessen the amount of heat produced by the fire. High performance can be attained by adding little delay. The base polymer's mechanical and chemical properties remain unchanged, suited to the base resin, maintaining the manufactured parts' mechanical qualities while preventing drain.
- OTHERS: The others segment held the market share of 10.76% in 2021 and is expected to register a CAGR of 4.37% during the forecast period. Others include antistatic, antiscratch additive masterbatches. Antistatic masterbatches reduce electrostatic buildup or improve conductivity, prevent dust and other pollutant attraction, and it has very effective dispersion on films or molded items. Antiscratch masterbatches modify the surface of finished plastic parts to reduce friction and increase melt flow for faster cycle times.
- Packaging: The packaging segment held a market share of 39.75% in 2021 and is expected to register a CAGR of 6.89% during the forecast period. Polypropylene additive masterbatches are utilized widely in the chemical and agriculture sectors. For example, it packages food, animal feed, chemicals, seeds, fertilizer, and seeds. It offers toughness, resistance to stretching, good printability, waterproofness, and non-greasiness.
- Building & Construction: The building & construction segment held a market share of 20.39% in 2021 and is expected to register a CAGR of 6.30% during the forecast period. Additive masterbatches offer solutions for crucial applications in the building and construction industry, such as geotextile, plumbing, electrical fittings, and roofing composite textiles. One of the building & construction industry's fastest-growing subsectors is polymeric fencing. The aesthetics of deeper colors and a wood-like look are currently quite popular in fencing. Darker colors and other cladding patterns are becoming more popular, which raises the issue of heat accumulation.
- Automotive: The automotive segment held a market share of 9.98% in 2021 and is expected to register a CAGR of 7.39% during the forecast period. For automotive applications, additive masterbatches offer strength and toughness, low-temperature impact performance, scratch and mar resistance, chemical resistance, long-lasting appearance, flame retardant, and high-gloss or matte finish. In addition to lightening the weight of the dashboards, the additive also enhances mechanical qualities like bending strength, which can sustain shock loading during an accident, for example.
- Agriculture: The agriculture segment held the market share of 7.34% in 2021 and is expected to register a CAGR of 5.93% during the forecast period. Fertilizers, pesticides, muck, humid air, and warm temperatures all impact and speed up the corrosion of agricultural machinery. Through high-performance materials that may affordably replace or supplement metal, additive masterbatches help decrease downtime and increase the useful life of agricultural equipment like tractors, combines, all-terrain vehicles (ATVs), and loaders. Bio masterbatch is created from biomaterials that biodegrade into water, CO2, organic humus, and other waste products in natural or industrial contexts and pose no environmental or educational hazards.
- Consumer Goods: The consumer goods segment held the market share of 12.68% in 2021 and is expected to register a CAGR of 5.75%during the forecast period. Applications for additive masterbatches include shampoo and detergent bottles, oil cans and bottle closures, and other consumer goods products.
- Others: The others segment held the market share of 9.86% in 2021 and is expected to register a CAGR of 3.96%during the forecast period. Others include electrical and solar panels. Products for LED & lighting systems are made using additives. The medical, pharmaceutical and personal hygiene industries have all used additives. These materials are frequently used in producing syringes, medical devices, and drug bottles. Spun bond non-woven fabrics used in single-use medical apparel are made using additives and color concentrates. Around the world, medical professionals, including doctors and nurses, utilize disposable face masks and specialized, permeable fabrics and films that use additives and colors.
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- North America: The thermoformed plastics market in North America was the third largest geographic segment in 2021. The market is expected to rise rapidly during the anticipated time frame due to industrialization and the expansion of the packaging industry. It is anticipated that this region will see an increase in thermoformed plastic product suppliers and manufacturers. The largest market for thermoformed packaging is the US, followed by Canada.
- Europe: The second-largest market for thermoformed plastics is anticipated to be Europe. The intense consumer and manufacturing environment in Eastern Europe is likely to be the main driver of the demand for additive masterbatch. Furthermore, regulatory bodies like the European Chemicals Agency (ECHA), the European Commission, and other federal agencies have established several stringent environmental standards defining the European market.
- Asia Pacific: The Asia-Pacific segment held the largest market share Asia-Pacific dominated the market with a share of 39.84%, accounting for 455.05 kilo tons in 2021; it is expected to register the highest CAGR of 6.81% from 2022 to 2030. Asia-Pacific is the region with the fastest anticipated growth. India and China are two emerging economies now experiencing rapid economic expansion. Demand for construction materials, automobile parts, and medical device packaging has been boosted by rising population and disposable income. China is the region's major manufacturer and supplier of equipment using various types of technologies that use additive masterbatch. Strong economic growth in China helps to support the country's rapid urbanization. This region's rising per capita disposable income is anticipated throughout the forecast period to drive the market.
- Latin America: The Latin American market is divided into Brazil, Peru, and Argentina are the major contributors in the region. The Mexico accounted for the largest market share of 34.77% in 2021, with a market value of USD 46.4 million; it is expected to register a CAGR of 6.27% during the forecast period. The Brazil accounted for the second largest market share in 2021, valued at USD 53.2 million; it is projected to register the highest CAGR of 7.09%. The growth in the region is attributed to the growth in the construction industry.
- Middle East & Africa: Middle East & Africa The GCC Countries accounted for the largest market share of 59.11% in 2021, with a market value of USD 114.3 million; it is expected to register the highest CAGR of 5.43% during the forecast period. The Rest of the Middle East & Africa accounted for the second largest market share in 2021, valued at USD 42.4 million; it is projected to exhibit a CAGR of 5.11%.