This growth is mainly supported by the increasing need for innovative and attractive plastic products from the packaging industry. Most of the polymer manufacturers have switched the processing method of plastics from compounding to masterbatch. This process is cost-effective and saves processing time as compared to compounded materials. American and European black masterbatch manufacturers are focusing on expanding their manufacturing facilities in emerging economies owing to cost-effective labor, low setup cost, tax benefits, and high demand for black masterbatch.
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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.
Players in the black masterbatches market are mainly concentrating on new product launches, acquisition, and collaboration to meet the growing demand for various end-use industries. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
The growth of the black masterbatches market has been largely influenced by new product launches that were undertaken between 2016 and 2020. Companies such as Ampacet Corporation and Avient Corporation have adopted new product launches to enhance their market position.
PolyOne Corporation, one of the leading manufacturers of specialized polymer materials, acquired Clariant’s masterbatch division in July 2020. The company also changed its name and is now operating as Avient Corporation. In order to strengthen their product portfolio, the company is focusing on organic growth for meeting client’s requirements. The company mainly focused on expansion and new product launch to strengthen its product portfolio. It offers black masterbatch for applications such as packaging, consumer goods, automotive, agriculture, and textile. The company has a strong geographical presence, with operations in five regions, namely, APAC, Europe, North America, South America, and the Middle East & Africa, with more than 50 production plants.In September 2019, the company launched its new black masterbatch colorants—OnColor RC Environmental Black—obtained from the end-of-life tires. This is a sustainable alternative to virgin carbon black. In January 2018, the company expanded its specialty color and additives expertise with the acquisition of a Spanish company named IQAP Masterbatch.
Ampacet Corporation is one of the top players in the black masterbatch market. They have a wide range of black masterbatch products. Ampacet black masterbatch has an important role in markets such as agricultural firms and irrigation systems, packaging, electronics, textile, automotive, toys, and construction. The company also offers masterbatches in different segments like color, white, and additive. The company, through its distribution network, sells its products to approximately 90 countries. These products are manufactured at 24 facilities across 17 countries.
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