Masterbatches manufacturers are actively investing in R&D to meet consumer demand for better performing products. For manufacturers of packaging material raw materials that can be produced at lower cost and that protect products during storage and transportation, the demand for advanced masterbatches with superior performance and aesthetic appeal will continue to increase.
The market in this sector will be a major growth driver for the automotive and consumer goods industries. In addition, with the increase in production capacity of plastic products, the Asia Pacific region will grow at a fastest rate of 5.7% per year.
In terms of production, the masterbatches used in various industrial products, food, automotive and pharmaceutical packaging materials will be the largest masterbatch on the world market. Based on the growing demand for personal plastic products, additive masterbatches are expected to achieve the highest growth rates. Research and Markets estimates that during the period 2014-2019, global demand for major companies will grow at an average annual rate of 7.1%, reaching $1.2 billion. The packaging industry using masterbatches is growing at an average annual growth rate of 7.5% and accounts for a large portion of the entire masterbatch volume market.
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