North America Masterbatch Market

North America Masterbatch Market Size (2023-2028):

The North America Masterbatch Market is expected to progress with a CAGR of 5% owing to its high demand in the packaging and construction industry.

Market Drivers and Restraints:

The usage of plastics as a substitute for metals has been the driving force for the growth of the Masterbatch market. The demand for high-performing, advanced materials is continuously growing and the Masterbatch market has been on the positive side of the growth. The demand for colored pigments has also increased across various sectors which further improves the growth opportunities for the North American Masterbatch market.

The high cost and complexities associated with the colour masterbatches, the need for increased production space, giant equipment, long lead times, and other factors, are estimated to impede the expansion of the North American market over the conjecture period.  In addition, the shift from plastic products to composites in several industries is also anticipated to pose a serious threat to the expansion of the North American Masterbatch industry.

Market Segmentation:

North America Masterbatch Market - By Type:

• Colour
• White
• Filler
• Additive

North America Masterbatch Market - By Polymers:

• PP
• LDPE
• HDPE
• PVC
• PUR
• PS

North America Masterbatch Market - By Application:

• Building and Construction
• Paper and Cardboards
• Consumer Goods
• Automotive
• Textile
• Household
• Personal Care

The consumer goods segment has recorded significant growth in the North American region in recent years. The COVID-19 pandemic has increased the health consciousness of consumers, encouraging the sales of consumer goods. The packaging sector has flourished in these times and as a consequence, the Masterbatch industry has also gained a lot.

The colour segment is expected to lead the market from 2022 to 2027. This is because coloured pigments are heavily used in the packaging, consumer goods, and construction sectors.

Market Regional Analysis:

In North America, the USA is foreseen to account for the leading portion of this business. It has become one of the production powerhouses of the world and is one of the strongest economies. Automotive sectors in the region are planning huge investments in the Masterbatch industry in the upcoming years which will increase its demand.

North America is the third-largest market for Masterbatch, behind the Asia Pacific region and the European region. The purchasing power of consumers in North America is significantly higher than in the majority of other countries.

Impact of COVID-19 on the North America Masterbatch Market:

COVID-19 has exposed severe challenges for the masterbatch market by impacting the associated end-user industries. The nations of North America are seriously affected because of the coronavirus pandemic. The Masterbatch market also suffered huge losses due to the halt in production and manufacturing activities across the continent. The automotive sector suffered the most and the demand for the same was at an all-time low. Experts believe that the recovery of the market is expected to start in late 2021 with an expected growth rate of 6% CAGR.

Market Key Players:

1. ASF SE
2. Cabot Corporation
3. Clariant, PolyOne Corporation
4. Ferro Corporation
5. Tosaf Compounds Ltd
6. Dow Corning Corporation
7. Multibase
8. Foshan Laicai Plastic Masterbatch Co., Ltd
9. Hebron Ltd
10. talMaster
11. PolyOne Corporation
12. GABRIEL-CHEMIE Gesellschaft m. b. H
13. Ingenia Polymers Corp
14. Plastika Kritis S.A

Market Recent Developments:

• In August’2020, Avient announced that they are developing a new dairy packaging additive to meet the Titanium DiOxide restrictions.
• A.Schulman, Inc. is developing innovative products, which will enable it to stay competitive and cater to the specific needs of customers. The company aims to manufacture masterbatches along with engineered plastic compounds, colour concentrates, and additives. A. Schulman has a worldwide presence with over 50 manufacturing plants. Ampacet introduced two lasers marking Masterbatch solutions in 2020.