HYDERABAD, India, April 18, 2016 /PRNewswire/ --
Mordor Intelligence releases their series of reports on the plastic color concentrates market. The global report discusses the plastic color concentrates market situation across the globe. Other reports in the series include in-depth analysis of the market across Latin America, North America, Asia-Pacific and Middle-East & Africa .
The global plastic color concentrates market is directly proportional to the revenues earned from color concentrates, plastic converters and processors. The market is projected to grow at a constant pace until 2020; from an estimated value of USD 4.91 billion in 2015 to a projected value of USD 6.45 billion by 2020. The CAGR during the forecast period is 5.58%. The market is expected to be driven by the rapid growth of manufacturing and plastic industries in Latin America and Asia-Pacific.
The report is segmented as:
- Industry application sectors - automotive, building & construction, sports & leisure (including toys), packaging, films, pharmaceutical, agricultural and non-woven fibers
- Type - solid masterbatch and liquid concentrates
Color concentrates such as masterbatch are liquid or solid additives for plastics, used for coloring plastics or enhancing the properties of plastics via additives such as flame resistant, antimicrobial properties, anti-fouling properties and UV light resistant. The color masterbatch is added to plastics in the form of additives; it can aid in enhancing the appeal of the product and improving the design and development process.
Packaging was the major application in the plastic color concentrates market in 2015. Plastic color concentrates have various applications in a wide range of industries such as automotive, sports and leisure, packaging, films, pharmaceutical and non-woven fibers.
Globally, Asia-Pacific held the largest market share in 2015. The region was closely followed by Europe and North America. Asia-Pacific is expected to achieve high levels of growth due to the soaring plastics industry, and the huge investment in this sector by both overseas and regional companies in recent years. Moreover, significant industrialization in the region, especially in countries such as China and India, further benefits the plastic color concentrates market.
South America is a growing economy. The plastic color concentrates market here is expected to grow at a significant rate owing to the increased foreign investments and growing automotive, packaging and pharmaceutical industries. The recent fall in plastic raw material prices along with the availability of cheap labor in the region, are factors that have prompted many large plastic products manufacturers to focus on establishing and expanding their manufacturing facilities.
Some of the major companies dominating this market for their products, services and continuous product developments are Clariant, PolyOne Corp., Dow Plastics International, A. Schulman, Cabot Corp., Ampacet Corp., Hubron International, Ferro Corporation, Gabriel-Chemie Group, Kunststof-KEMI Skandinavia, Plastika Kritis S.A, Polyplast Muller GmbH, Changzhou Hongmei Plastic Masterbatch Co., Ltd. and Tosaf Group, among others.
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SOURCE Mordor Intelligence