Special effect masterbatches market to grow at 5.5% CAGR
According to a recent report published by Research Dive, titled, Special Effect Masterbatches Market by Effect Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026, the global special effect masterbatches market size was valued at USD 3,062.2-million in 2019, and is projected to reach USD 4,465.5-million by 2025, registering a CAGR of 5.5% from 2019 to 2026.
01 May 2023 | By Rahul Kumar
Asia-Pacific dominates the market, followed by Europe, North America, Latin America, and Middle East & Africa. China dominated the global special effect masterbatches market share in the Asia-Pacific region in 2019, whereas India is expected to grow at a significant rate in the Asia-Pacific during the forecast period.
Special effect compounds can increase consumer appeal, provide beneficial features, mimic other materials and add visual impact to your plastic products. Special effect masterbatches usually include unique pigments or fillers to achieve different visual effects such as metallic, pearlescent, sparkle mist, fluorescence, transparent, etc.
These masterbatches are mixtures of special pigments and additives that are encapsulated and used in the manufacturing of plastic products. The raw polymer can be coloured, and special effects can be added to the finished products with the help of special effect masterbatches.
A variety of special effects can be given to the polymers with the help of special effect masterbatches, which will enhance the attractiveness of polymers or end-product. Innovations and new product developments have been observed in the production of special effects masterbatches.
Changing needs and preferences of customers are majorly defining the trends in the special effect masterbatches market. The predesigned special effect masterbatches are in high demand in industrial applications.
Special effects masterbatches materials are used for the development and manufacturing of medical devices. Due to their ease of processing, comparatively lightweight, non-ferrous properties, flexibility and superior biocompatibility, masterbatches have become an integral component in a wide range of medical devices, diagnostics and drug delivery systems, surgical instruments, orthopedic implants and orthopedics. New plastic formulations are regularly substituted for long-established materials in the medical industry.
Leading players in the food and beverage industry in North America are focusing on advanced and innovative product packaging by high-end usage of numerous custom-coloured masterbatches, in order to gain consumer attention for their products. In addition, the high demand for special effects masterbatches in food packaging in the region is increasing with the advent of new packaging technologies such as UV resistant, antioxidant, antimicrobial and more attractive.
Packaging accounts for a significant share of the overall masterbatches market in terms of end-use industries. Manufacturers of consumer products are progressively looking for packaging materials that ensure efficient storage and transportation and enable low-cost production. Thus, the advancements in technology lead to the growing use of masterbatches for packaging in various industries, such as food and beverages, automotive, etc.
The growing demand for specialty masterbatches in the plastic industry for several products, such as extruded profiles, hoses, pipes, and belts is expected to drive the demand for masterbatches in the region. The growth of polymer in emerging countries of East Asia and South Asia is likely to continue as a significant driving factor for market growth over the forecast years.
Thus, it leads to the high demand for specialty masterbatches in the plastic and fibre segment in East Asia and South Asia region. However, fluctuating petro-chemical prices are influencing the cost of masterbatches and and increasing challenge of finding the right supplier is expected to hinder the growth of the special effect masterbatches market.
Furthermore, embracing colour masterbatches in various end-use applications remarkable growth opportunities for the key players operating in the market.
For details, please visit, Research Dive.