PUNE, India, July 1, 2016 /PRNewswire/ --
The report "Additive Masterbatch Market by Type (Antimicrobial, Antioxidant, Flame Retardants, and others), by Carrier Resin (PE, PP, PS, and Others), by End-use Industry (Packaging, Building & Construction, Consumer Goods, Automotive, Agriculture, and Others) - Global Forecast to 2021", published by MarketsandMarkets, The market size is projected to reach USD 3.40 Billion by 2021, registering a CAGR of 6.0% between 2016 and 2021.
Browse 84 market data Tables and 43 Figures spread through 151 Pages and in-depth TOC on "Additive Masterbatch Market"
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Antimicrobial is the fastest-growing type of additive masterbatch
The additive masterbatch market is segmented into antimicrobial additive, antioxidant additive, flame-retardant, and other additives, based on type. Antimicrobial additive accounts for a major share of the additive masterbatch market as it is used to control microbes in plastic products. The packaging industry drives the demand for additive masterbatch owing to rapid urbanization, development of retail & e-commerce, and the growing cosmetics and healthcare sectors in emerging countries such as China, India, and Brazil.
Polyethylene carrier resin to dominate the additive masterbatch market
Polyethylene is the most preferred type of carrier resin because of its superior properties, such as low density, high toughness, and moisture resistance, in comparison to the other resins.. LDPE & LLDPE are extensively used in additive masterbatch as they have various applications, including plastic bags & sheets, plastic wraps, toys, lids, buckets & containers, pipes, and others.
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Asia-Pacific to be the largest market during the forecast period
The Additive Masterbatch Market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is the largest market of additive masterbatch, in terms of value and volume. The increased consumption of plastics in the region has led to the expansion of plastic manufacturing plants. The per capita consumption of plastics is estimated to rise significantly during the forecast period. The rising demand for plastics in food, pharmaceutical, and consumer goods packaging is driving the market for additive masterbatch. The consumers demand appealing color and functionality for plastic products. Thus, additive masterbatch is added to enhance the properties of plastics, including scratch resistance, water resistance, chemical resistance, and others.
Currently, the global additive masterbatch market is dominated by various market players, such as Clariant AG (Switzerland), A. Schulman, Inc. (U.S.), PolyOne Corporation (U.S.), Plastika Kritis S.A. (Greece), and Plastiblends India Ltd. (India), among others. The leading players mainly concentrate on new product launches to enhance their market reach and make innovative products available to a large number of customers.
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