iCrowdNewswire Jan 14, 2021 2:00 PM ET
The Additive Masterbatch is widely used in the end-user industries such as packaging, building & construction, agriculture, and automobile among others. The global Additive Masterbatch market is spanned across five regions of the world namely Asia Pacific, Middle East and Africa, North America, and Latin America. Among these, Europe is anticipated to be the largest market and Asia Pacific is expected to be the fastest market during the forecast period. The developed end-user industries such as automobile and packaging, coupled with the growing greenhouse cultivation has surged the use of Additive Masterbatch in the European region. The major countries attributing to this growth are Germany, Italy, France, and the U.K.
The Asia Pacific is the fastest growing market during the forecast period owing to the growing urbanization and industrialization in the developing countries of the region. The major countries attributing to this growth are India and China. The developing automobile and construction sector has augmented the demand for Additive Masterbatch in the region. According to OICA, the Chinese car production grew by 14.5 % from 2015-2016 whereas the Indian car production grew by 7.9%. The growing adoption of plastics in the automobile industry is likely to propel the market growth over the forecast period.
North America is another dominant region in the Additive Masterbatch market. The developed automobile and packaging sector coupled with the growing adoption rate are the major factors contributing to the growth of the market. Moreover, the growing investment in building and construction sector with the change in the government in the region, especially in the U.S and Canada, is pushing the market growth further. The U.S total value of construction in January 2017 was USD 1.18 trillion, which recorded an increase of over 2.5% than January 2016.
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The global Additive Masterbatch market is segmented into type, carrier resin, and end user industry. On the basis of the type, the market is segmented into antimicrobial Additive Masterbatch, flame retardant Additive Masterbatch, anti-oxidant Additive Masterbatch, and others. On the basis of the carrier resin, the global market of Additive Masterbatch is segregated into polyethylene (PE), polypropylene (PP), polystyrene, polyvinyl chloride (PVC), polyethylene terephthalate (PET) and others. On the basis of the end-use industries, the market is further bifurcated into packaging, automotive, consumer goods, building & construction, agriculture, and others.
Some of the prominent players operating in the global Additive Masterbatch market are Clariant AG (Switzerland), A. Schulman, Inc. (U.S.), PolyOne Corporation (U.S.), Plastika Kritis S.A. (Greece), and Plastiblends India Ltd. (India), Plastika Kritis S.A (Turkey), DOW Corning Corporation (U.S.), Polyplast Muller GmbH (Germany), RTP Company (U.S.), and Ampacet Corporation (U.S.) among others.
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