Masterbatches allow the processor to color raw polymer economically during the plastics manufacturing process. Apart from this application, the momentum has been shifting towards special effect masterbatches over the past few years, as these masterbatches aid the overall aesthetics of the product. This has caught the eye of a number of end-users demanding various special effects masterbatches. With this, the global market for Special Effect Masterbatches is expected to attain a CAGR of over 5% between 2019 and 2029.
Innovation within special effect masterbatches coupled with technological advancements in blow molding technology are coined as some of the recent trends under Special Effect Masterbatches industry. Furthermore, high demand for film extrusion masterbatches, embracing color masterbatches in various end-use applications along with rising adoption of special effect masterbatches within end-use industries are some of the primary factors aiding the global Special Effect Masterbatches market growth over the forecast period.
A number of regional market players have also been focusing towards technology improvement in compounding equipment and techniques for color and special effect masterbatches further fueling demand growth in the market.
Increasing Demand from Application Industries: A Growth Promoter for Special Effect Masterbatches Market
Fact.MR has identified packaging and consumer goods to be the market dominating applications of special effect masterbatches. Demand for plastics is on rise in food packaging and consumer goods sector. Packaging provides a medium to preserve, protect, market and distribute food & beverage products. They play a pivotal role in ensuring the delivery of highest quality products to consumers. Since the last decade, manufacturers have been offering advanced masterbatches with special effect that tend to improve the aesthetics and maintain the quality of food products.
Moreover, manufacturers of consumer appliances are also opting for special effect masterbatches for packaging purpose in order to push the appeal for their products. Moreover, increasing adoption of specialty and film extrusion Masterbatches also tend to leverage wide avenues for special effect masterbatches market. The demand for high shelf life of food products by consumers is giving a boost to the need for top barrier films.
Next-generation polymer nano-composites are being engineered to further optimize the barrier properties of packaging films, which can add immense value to the laminate structure. Also, rising demand for specialty masterbatches in the plastic industry for several products, such as extruded profiles, hoses, pipes, and belts is expected to drive the demand for masterbatches across various applications. Therefore, all the aforementioned facts are collectively fueling demand growth.
Europe: The Leading Regional Market
Europe has dominated the Special Effect Masterbatches market however will lose its position to Asia-Pacific in the mid-term forecast. The European demand is attributed to higher consumption rates of special effect masterbatches across the packaging, automotive and consumer appliances industries. Though the western European region is towards maturity in the special effect masterbatches market, the Central & Eastern European region collectively is forecast to drive the demand growth during the forecast period.
Countries such as Poland, Romania, Hungary, Czechia, Russia are some of the key markets for Special effect masterbatches in the Central & Eastern European region. The growing packaging industry, increasing per capita plastic consumption in the region along with rising demand from polymer and plastic manufacturers are the key factors anticipated to drive demand growth of special effect masterbatches in Central & Eastern part of the European market.
Moreover, the global Special Effect Masterbatches market is dominated by some of the key players that include PolyOne Corporation, Clariant AG, Gabriel-Chemie Group, Ampacet Corporation, Viba S.p.A., Americhem Inc., RTP Company Inc., Kandui Industries Pvt Ltd. and others. These companies rely on various strategic moves such as merger & acquisition, partnership, product launch, expansion, investments etc. to strengthen their market hold. However, product launches and expansion are the prime strategies followed by the companies for increasing their dominance in the global Special Effect Masterbatches market. The domestic markets for special effect masterbatches are fragmented in nature with no global market player accounting for over 10% in the global market.