Special effect masterbatches market to attain CAGR of 5% by 2029

According to a recent study by FactMR, the global market for special effect masterbatches is expected to reach a CAGR of over 5% between 2019 and 2029.

04 Sep 2019 | By Aultrin Vijay

Masterbatches allow the processor to colour raw polymer economically during the plastics manufacturing process. However, the momentum has been shifting towards special effect masterbatches over the past few years, as these masterbatches aid the overall aesthetics of the product.

High demand for film extrusion masterbatches, embracing colour masterbatches in various end-use applications along with rising adoption of special effect masterbatches within end-use industries are some of the primary factors aiding the global special effect masterbatches market growth.

A number of regional market players have been focusing on technology improvements in compounding equipment and techniques for colour and special effect masterbatches, thus, fuelling its demand in the market.

According to the study, packaging and consumer goods will be the market dominating applications of special effect masterbatches. The manufacturers of consumer appliances are opting for special effect masterbatches for packaging in order to push the appeal for their products and maintain its quality.

The study has also identified an increasing adoption of specialty and film extrusion masterbatches, which tend to leverage wide avenues for special effect masterbatches market. The demand for the high shelf life of food products by consumers has given a boost to the need for the barrier films.

The study foresees the integration of nanocomposites to further optimise the barrier properties of packaging films, which could add immense value to the laminate structure.

Masterbatches market leader, Europe, would lose its position to Asia-Pacific in the mid-term forecast. “The European demand is attributed to higher consumption rates of special effect masterbatches across the packaging, automotive and consumer appliances industries. Though the Western European region is towards maturity in the special effect masterbatches market, the Central and Eastern European region collectively is forecast to drive the demand growth during the forecast period,” the report stated.

Poland, Romania, Hungary, Czechia, and Russia are some of the key markets for special effect masterbatches in the Central and Eastern European region. “The growing packaging industry, increasing per capita plastic consumption in the region along with rising demand from polymer and plastic manufacturers are the key factors anticipated to drive demand growth of special effect masterbatches in Central and Eastern part of the European market,” the report added.

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