According to the latest research report titled ‘Global Masterbatch Market (Value, Volume) Analysis By Product, End-User, Polymer, By Region, By Country : Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global masterbatch market size was valued USD 12.05 billion in the year 2019 and 7219.23 thousand tonnes by volume, and is expected to witness a notable hike during the forecast period 2020-2025.
 

As per the findings of the report, global masterbatch market growth is largely dependent on the amount of polymer consumption in the region. Rising production of plastic products and components, emergence of innovative product packaging, rapid industrialization, and economic progress are stimulating the overall industry expansion.
 

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For the uninitiated, masterbatch is additive used to color plastic (color masterbatch) or impart beneficial physical properties to plastic (additive masterbatch).
 

Based on product, global masterbatch market is fragmented into black, white, color, and additive. Among these, white masterbatch leads the industry growth owing to their capability of providing opacity as well as base color to plastics used in milk bottles, milk pouches, food material packaging, plastic bags, and pharmaceutical packaging. With rise in demand for wires, films, and cables, along with expansion of packaging industry, this segment will witness strong growth through 2025.
 

In terms of end-user spectrum, global masterbatch industry is categorized into packaging, building & construction, electronics, automotive, durable goods, and others. Of these, packaging segment captures a significant portion of the industry share, attributable to rising emphasis of manufacturers towards attractive packaging to gain consumer attention in an effort to boost sales.
 

With respect to polymer type, polyethylene is pulling the overall market share from other segments due to growing popularity of different variants of this polymer. This can be ascribed to the use of low-density polyethylene, high density polyethylene, and linear polyethylene in various end-user industry segments. Moreover, polyethylene products enables formation of a variety of shades during packaging that facilitates easy product differentiation, which further strengthens its demand among manufacturers.
 

Considering the regional outlook, Asia Pacific masterbatch industry size is expanding at a robust pace, chiefly on the back of increasing demand of plastics from end user industries, such as automotive, packaging, consumer appliances, and electronics. Further, growing establishments of plastic processing units, especially in India and China, will boost the regional market growth in the upcoming years.
 

Penn Color, Inc., Tosaf Compounds Ltd., PolyOne Corp., Hubron (International) Ltd., GCR Group, Clariant AG, Cabot Corp., Ampacet Corp., Americhem, Inc., and LyondellBasell Industries N.V. are the major players in global masterbatch industry sphere.