Study on Color Masterbatch : Factors Impacting Revenue Growth of the Global Market
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The color masterbatch market is driven by increasing usage by polymer manufacturers in their own compounding procedures and increasing use of color masterbatch as substitute for compounds into engineering polymer markets. Demand for color masterbatch also seemed to boost because of higher use of special effects and colors to distinguish products. Its demand is also helped by the necessity for advanced performance standard from polymer materials with properties such as UV stabilization, flame retardation, optical brightness, enhanced transparency, surface resistivity, prevention of static and yellowing (oxidative or thermal degradation), scratch resistant, etc. European Union’s concern for reduction in greenhouse gases is causing a rise in the demand for light weight vehicles. When plastic content is increased in vehicles, it reduces their weight and emission of carbon, which also increases fuel efficiency. This leads to replacement of metal parts by plastic ones in the vehicles. This indicates opportunities for growth in color masterbatch market.
Based on the varying applications, color masterbatch market can be segmented into : materials used in the aerospace; business machines and office supply; appliance, electronics and connectors; construction; automotive and transportation; healthcare; military/government; consumer and sporting goods; industrial equipment and power tools packaging for food articles, etc. Based on the use of carrier coloring agent, color masterbatch market can be segmented into : polypropylene, polyethylene, polystyrene, etc. Based on the requirement of color type, color masterbatch market can be segmented into : standard color, special color, custom-made color, etc.
In the world, in terms of demand and production, both, the European industry is the leading color masterbatch industry. Due to industrialization, the growth of the packaging industry in Asia is also motivating the demand of color masterbatch. The reasons for growth in packaging industry in Asia-Pacific are urbanization and changing demand of consumers. Many major color masterbatch manufacturers have moved their production facilities in the Asia-Pacific due to increasing demand and low manufacturing costs in the region. Market subtleties in developed regions such as Western Europe and North America are considerably different from developing regions such as Asia-Pacific and Africa. Structure of market in Europe and North America is associated, whereas it is disjointed in Asia Pacific.
Some of the key participants in color masterbatch market are Alok Masterbatches Pvt. Ltd., Americhem, Carolina Color Corporation, Clariant, Color Master Inc., iDAdditives, Munsell, Shandong Luyan Color Masterbatch Co. Ltd., O’Neil Color & Compounding, OCSiAl, Panton, Penn Color Inc., Plastibends, Prayag Polytech Pvt. Ltd., PPG Industries, RAL, Reedy Chemical Foam & Specialty Additives, RTP Company, Tradepro Inc.
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