Replacement of metals with plastics in automotive applications is driving the Black Masterbatches Market

The black masterbatches market size is estimated to be USD 2.4 billion in 2021 and is projected reach USD 3.0 billion by 2026, at a CAGR of 4.4 % between 2021 and 2026. . 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.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=58392794

Plastics provide superior mechanical, physical, thermal, and electrical properties than metals. Engineering plastics are widely used in various automotive components such as steering wheels, airbags, seatbelts, bumpers, and dashboards. Continuous innovation and demand for lightweight materials in the automotive industry are encouraging the replacement of metals with plastics. It is estimated that for every 10% reduction in the weight of vehicles, fuel efficiency can be increased by 7–8%. In addition, plastics offer better design, safety, and environmental sustainability than metals. Automotive and airplane manufacturers utilize lightweight plastics such as PP and PC for windows, hoods, and interior applications.

Plastics used in the manufacture of automotive components are PBT, PET, PVC, ABS, PA, PS, PC, and PE. Implementation of stringent regulations on vehicular emissions in developed nations has led to automobile manufacturers working on weight reduction of vehicles. As plastic is used for weight reduction in vehicles, the demand for plastics in the automotive industry is increasing rapidly. Black masterbatch is used in exterior applications such as vehicle bodies, bumper, headlamp lenses, body side protection strips, window sealing profiles, and tires in the automotive industry.

The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The black masterbatches market is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0% of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest black masterbatches market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.

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.

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=58392794

Impact modifiers market- Trends & Technological Advancements

The impact modifiers market is expected to reach USD 13.13 billion by 2021. The growth of the impact modifiers market is primarily triggered by the huge demand for plastic products from the packaging, construction, automotive, and consumer goods industries. The packaging was the largest end-use industry segment of the impact modifiers market. A wide variety of plastic products such as bottles, caps & closures, films & special films, transport crates, and containers & drums utilizes impact modifiers, thereby influencing the growth of the impact modifiers market.  

Download PDF Brochure for more insight @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=58674504 

The use of impact modifiers improves the properties of polymers, such as impact strength, toughness, and hardness. Impact modifiers are also used to maximize the performance of polymers. Advancements in impact modifiers have led to new developments in products with high efficiency and better impact strength.

The companies operating in the food and beverage industry are focusing on attractive and sophisticated product packaging with improved strength and endurance to gain consumer attention. This has led to the increased usage of impact modifiers, owing to their advanced properties, such as UV resistance, heat resistance, and high impact strength.

Factors such as increasing applicability of impact modifiers across varied end-use industries, technological advancements, and the growing demand for impact modifiers in the developing regions are expected to drive the growth of the impact modifiers market.

Packaging, construction, automotive, consumer goods are the significant-end uses of impact modifiers. The packaging segment is estimated to account for the largest share of the global impact modifiers market in 2016. Increasing demand for impact modifiers from the pharmaceutical and food packaging sectors is projected to drive the growth of the impact modifiers market in the packaging application. The growth in these end-use industries will consequently drive the growth of the market.

 In terms of value, the Methacrylate-Butadiene-Styrene (MBS) segment is expected to be the fastest-growing segment of the market from 2016 to 2021. This segment is anticipated to witness growth, owing to its increasing demand from the construction industry. The main advantages of MBS impact modifiers are that they are environment-friendly, cost-efficient, odorless, and have high impact strength.

Asia-Pacific is the largest market, both in terms of volume and value, followed by North America. Significant demand from developing countries such as China, and India, is projected to drive the global impact modifiers market. Most of the growth in China and India is being fueled by rising investments in infrastructure development and construction projects in these countries. Moreover, advancements in the electronics industry in major electronics manufacturing countries such as China, Japan, South Korea, and Taiwan have resulted in a solid turnaround in the consumption of impact modifiers in the region.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Leading players such as Evonik Industries, AG, BASF, and Dow Company deploying multiple strategies to strengthen their position in Impact modifiers market

Impact modifiers is a growing market with a significant number of global and regional players. The major companies operating in the impact modifiers market include E. I. du Pont de Nemours & Co. (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Evonik Industries AG (Germany), Clariant AG (Switzerland).

Download PDF Brochure @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=58674504

These companies have been adopting various strategies, such as new product launches, mergers & acquisitions, and others in order to grow and strengthen their foothold in this market. New product launches is the most preferred growth strategy adopted by large companies to cater to the diverse needs of their customers.

More than half of Arkema’s research & development expenditure is allocated to green chemistry. The company is primarily focused on innovating new products in the field of impact modifiers, and providing customers with energy-efficient products that are developed from renewable sources. For instance, Arkema launched Lotryl T, a new copolymer that functions as impact modifiers for PET Straps in April, 2016.

Clariant is another leading company in the chemical industry. Clariant’s strategy is concentrated mainly on four strategic initiatives, namely, profitability of essential businesses, research & development and innovation, expansion of company’s competitive position in global growth markets, and optimization of the product portfolio. Clariant introduced lightweight plastics and additives for under-the-hood, interior and exterior parts of vehicles, especially for China’s local automotive and transportation industry in September, 2014. The company also provides additives for the commonly-used plastics, such as PP, PA, PUR, and ABS, thereby enhancing its presence in the automotive sector in China. Clariant entered into a distribution agreement with Connell Brothers Co. Ltd. (U.S.) to supply additives, waxes, polymer additives, and flame retardants in Australia in July, 2013. This development strategy helped the company to enhance and develop Clariant’s business in the Asia-Pacific region.

Speak with our Analyst @https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=58674504

Furthermore, companies operational in this market have also been focusing on alliances and collaborations, establishment of R&D centers, and partnerships to increase their market presence. This has further helped them to increase their market share in emerging economies.