Additive Masterbatch Market Report 2024 - Additive Masterbatch Market Size, Share, Growth And Trends

"The Business Research Company recently released a comprehensive report on the Global Additive Masterbatch Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The additive masterbatch market size has grown strongly in recent years. It will grow from $4.38 billion in 2023 to $4.67 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to economic growth, growth in demand for plastic products, regulatory compliance, industrial growth, rise in building and construction sector.

The additive masterbatch market size is expected to see strong growth in the next few years. It will grow to $6.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to rising plastic recycling initiatives, rising government investments in infrastructure development, growth in automotive industry, rising packaging sector, rising demand for sustainable products. Major trends in the forecast period include smart masterbatches, bio-based and biodegradable masterbatches, customized formulations, antimicrobial and antiviral additives, collaborative partnerships.

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Market Drivers and Trends:
Rapid growth in the packaging industry is expected to propel the growth of the additive masterbatch market. Packaging is the process of covering a product with an informative and protective covering to safeguard the product. The packaging industry uses the additive masterbatch for packaging food, drugs, medical supplies, cosmetics, and other things. For instance, in January 2022, according to Flexible Packaging Association, a US-based packaging association, sales for the U.S. flexible packaging market are projected to reach $39 billion in 2021, up from $34.8 billion in 2020, and shipment volume is projected to reach 27 billion pounds. Therefore, rise in the packaging industry is expected to boost the demand for additive masterbatch during the forecast period.

Major companies operating in the additive masterbatch market are innovating new technological products such as Poly-G PE-07GM to increase their profitability in the market. Poly-G PE-07GM is a graphene-enhanced PE additive masterbatch with a focus on cutting-edge materials for industrial applications. For instance, in March 2023, Gerdau Graphene, a Brazil-based nanotechnology company launched Poly-G PE-07GM. Poly-G PE-07GM can be used to produce sheets, profiles, and films that are created using extrusion procedures. In comparison to normal PE, the graphene-enhanced material has better gas barrier characteristics, stronger UV resistance, and higher stiffness and tensile strength.

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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:
Clariant AG, Ampacet Corporation, Tosaf Compounds Ltd., Dow Corning Corp, Primex Color Compounding & Additives, Universal Masterbatch Llp, Roto Pre Masterbatch, XLPE Masterbatch, Engineering Masterbatch, Special Effect Masterbatch, Biodegradable plastics, Entec Polymers Llc, Chroma Color Corp, The Chemours Company, Kuala Lumpur Kepong Berhad, Sattler PRO-TEX GmbH, European Plastic Company, Plasticon Masterbatches, Sumiran Masterbatch Pvt Ltd., M.G. Polyblends, JJ Plastalloy Private Ltd., Kandui Industries, Chrostiki SA, Cromex Technology LLp, Delta Tecnic, GRAFE GmbH & Co KG, Reinforced ThermoPlastics, Astra Polymer Compounding Co Ltd., PolyOne Corp

Additive Masterbatch Market 2024 Key Insights:
• The additive masterbatch market size is expected to see strong growth in the next few years. It will grow to $6.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Booming Packaging Industry Drives Surge In The Additive Masterbatch Market
• Innovative Technological Advancements Elevate Profitability In The Additive Masterbatch Market
• Asia-Pacific was the largest region in the additive masterbatch market in 2023

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This release was published on openPR.