![Global Masterbatch Market](https://res.cloudinary.com/devmoveo/image/upload/v1676551272/skyquest/gallery/Global-Masterbatch-Market.jpg)
Report ID: SQMIG15E2169
Report ID:
SQMIG15E2169 |
Region:
Global |
Published Date: February, 2024
Pages:
272
|
Tables:
97 |
Figures:
80
Masterbatch Market size was valued at USD 4554.74 million in 2019 and is poised to grow from USD 4855.35 million in 2023 to USD 8067.45 million by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).
The masterbatch market is expected to be driven by the increasing substitution of metal parts with plastic and the usefulness of the service life of plastic materials and plastic products. Also, the increased focus in the automotive industry on using plastic to reduce vehicle weight is expected to drive the market over the forecast period. Additionally, significant growth in automotive and construction activities is expected to improve the potential for engineering plastics, particularly in applications such as acoustic, composite plastic, lighting, skylights, and window glazing. Cheap product options from developing nations, particularly China, limit the market expansion. Although increased competition prohibits new players from entering, makers of inferior masterbatch may be able to overcome these obstacles.
Because it contains stabilizers, coloring agents, and flame retardants, among other chemicals, the masterbatch used in recycled plastics today is harmful to the environment. Because recycled plastics are not biodegradable, they pose a difficulty for enterprises that manufacture plastic products. Also, various restrictions govern the use of plastics. For example, Europe has already prohibited single-use plastics since recycling plastic causes waste and pollution. This will have an impact on how plastics are employed in high-growth applications such as packaging.
US Masterbatch Market is poised to grow at a sustainable CAGR for the next forecast year.
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REQUEST FREE CUSTOMIZATIONMasterbatch Market size was valued at USD 4554.74 million in 2019 and is poised to grow from USD 4855.35 million in 2023 to USD 8067.45 million by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).
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Report ID: SQMIG15E2169