The black masterbatches market is projected to reach USD 3.0 billion by 2026, at a CAGR of 4.4 % from USD 2.4 billion in 2021. Black masterbatch is manufactured from carbon black pigment. It typically contains 30.0%–50.0% carbon black. Based on the specific plastic product, the carrier of carbon black is decided. For instance, PS products use PS as the carrier of carbon black. Black masterbatch is used in different polymers such as polypropylene (PP), low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), polyurethane (PUR). Some of the important end-use industries of black masterbatch are packaging, infrastructure, automotive, electrical & electronics consumer goods, fibers, and agriculture.
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The growing industrialization in emerging economies, such as China, India, South Korea, Indonesia, Thailand, Taiwan, Mexico, Brazil, and Argentina, is expected to drive the black masterbatch market in the next five years. The high demand from the packaging, building & construction, consumer goods, automotive, and agriculture applications in these countries increase the need for black masterbatch, especially for plastics used in these applications. The implementation of government policies supporting the growth of industries, low labor costs, skilled workforce, availability of raw materials, and increasing urbanization have enabled domestic and foreign companies to establish their facilities in these countries. The growth of the manufacturing industry in Malaysia, Vietnam, Colombia, and Chile is also expected to fuel the market growth.
Automotive is the largest end-use industry of the black masterbatches market. APAC was the largest market for black masterbatches in 2020, in terms of both volume and value. Factors such as growing demand from packaging industry, rapid industrialization in growing economies like China, India & Thailand and increasing demand for plastic molds in electric vehicles will drive the black masterbatches market.
Europe is the second-largest black masterbatches market in the world. Key countries in the region include Germany, France, the UK, and Spain. As the market in Europe is mature, it is projected to grow at a lower CAGR during the next five years. Europe has always been a major black masterbatches market due to presence of developed automotive sector in the region. This market is more growing due to high demand of plastic molds in electric vehicles. Key countries such as Germany and France have shown promising demand for black masterbatches which is expected to continue in the near future.
Key players in this market are LyondellBasell (US), Avient Corporation (US), Ampacet Corporation (US), Cabot Corporation (US), Plastika Kritis S.A. (Greece), Plastiblends India Ltd. (India), Hubron International (UK), Tosaf Group (Israel), and Penn Color, Inc. (US). The global and regional players have sizable shares in the black masterbatch market. The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally.
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