According to the MarkNtel Advisors’ research report, "Global Sustainable Masterbatch Market Analysis, 2021," the market seems to grow at a CAGR of 9.5% during 2021-26 owing to the burgeoning adoption of sustainable masterbatch among end-users. The surging awareness regarding biodegradable plastics, escalating developments in new bioplastics like PBAT, and snowballing investments in R&D of sustainable solutions in the masterbatch industry positively impact the market growth.
Besides, several government policies to encourage adopting sustainable masterbatch and growing agriculture, automobile, and packaging industries in developing countries like India further propel the demand for sustainable masterbatch. Moreover, the launch of innovative products by market players and the rising demand for PLA-based plastic are factors likely to fuel the global market growth.
Key questions answered in the study
Automotive Exhibits Fastest Growth
Based on the Application, Automotive exhibits the fastest growth in the Global Sustainable Masterbatch market in the forecast period. To reduce weight, improve strength, reduce cost, and induce desired properties in automobiles, the demand for high-performance plastic materials is surging in the industry.
The mounting demand for lightweight material in the automotive industry has replaced heavy metals with plastic. Besides, the rapidly growing automotive market in developing countries owing to robust urbanization, surging government subsidies, and growing investment in electric cars further accelerates the demand for sustainable masterbatches.
“Global Sustainable Masterbatch Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and available opportunities for Sustainable Masterbatch providers across the globe. Moreover, the report also covers the key strategic imperatives for the competitors' success and strategic factorial indexing measuring competitors’ capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
North America Acquired Highest Market Share
North America acquired the highest market share in the Global Sustainable Masterbatch market in 2019. The growth attributes to rising innovation in sustainable masterbatch, surging demand for plastics in the automotive industry, and availability of a wide range of sustainability masterbatch products by market leaders in the North American market.
The US dominated the North American region on account of increasing awareness about compostable plastic. The rising demand for bioplastics for increasing product shelf life & reducing waste, and the robustly growing food & beverages industry due to surging packaged food consumption are factors soaring the global Sustainable Masterbatch market growth in the forecast period, states MarkNtel Advisors in their research report, “Global Sustainable Masterbatch Analysis, 2021.”
According to MarkNtel Advisors, the key industry leaders in the Global Sustainable Masterbatch market are BASF SE, Cabot Corporation, Avient Corporation, Ampacet Corporation, Americhem, Inc., Silvergate Plastics, GABRIEL-CHEMIE GmbH., Tosaf Compounds Ltd., Rapid Colour Services Ltd, Polyvel Inc., etc.