The Global Sustainable Masterbatch Market is projected to grow at a CAGR of 9.5% in the forecast period of 2021-26, reveals MarkNtel Advisors in their recent research report. It owes to the increasing concerns associated with deteriorating environmental conditions due to plastic usage, coupled with the mounting need to address these issues by adopting sustainable practices & products, especially across packaging, automotive, medical, & agriculture industries.
Additionally, the active participation of governments of different countries toward encouraging the adoption of sustainable masterbatch entwined with their stringent laws & regulations for limiting the production of plastic & promoting bioplastic is also driving the market.
Moreover, with constant advancements in technologies, leading players are seeking innovations while manufacturing sustainable masterbatch & expanding their revenue streams & product portfolio. It is another crucial aspect projected to boost the market in the coming years, further states the research report, “Global Sustainable Masterbatch Market Analysis, 2021."
Mounting Usage of Sustainable Masterbatch in Packaging Applications to Boost the Market through 2026
The escalating demand for reusable packaging of products is promoting the adoption of sustainable masterbatch across the packaging sector. Additionally, benefits like the tactile & visual appeal of masterbatches for brand promotion with attractive packaging to attain a massive consumer base are also driving the market across the packaging industry.
In the packaging industry, the food & beverage sector is amongst the largest consumers of sustainable masterbatches, principally to sustain the shelf life & quality of food products for a longer time. Hence, the aspects cited above would lead the packaging sector to dominate the global market through 2026.
With Rapidly Expanding Packaging Industry across India & China, Asia-Pacific Dominates the Market
Of all regions globally, Asia-Pacific dominated the Sustainable Masterbatch Market in recent years, and the same trend is likely to be followed in the coming years. The robust demand for sustainable masterbatch from the packaging industry of countries like India & China is driving the regional market.
In addition, the swiftly improving economic conditions and the burgeoning need to adopt sustainable products are boosting the sales of recyclable plastic goods and, in turn, augmenting the demand for sustainable masterbatch across Asia-Pacific, further states MarkNtel Advisors in their research report, "Global Sustainable Masterbatch Market Analysis, 2021."
According to MarkNtel Advisors, the leading players 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., Sukano AG.
Key Questions Answered in the Study