Global Masterbatch Market: Key Highlights
Global Masterbatch Market: Key Market Dynamics
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Global Masterbatch Market: Regional Overview
The masterbatch market in the Europe region is projected to witness high demand due to the increased demand can be attributed to the presence of a number of end-use industries including automotive, packaging, building & construction, and consumer goods. Additionally, fast-paced industrialization, growing consumption of consumer goods, and building and construction activities in the region coupled with growing number of exports are some of the factors expected to surge the demand.
The countries in the region, such as India, China, and Taiwan, are witnessing strong demand for packaging, which is a key application of masterbatch. Increasing the purchasing power of consumers and rise in the middle-class population in this region is increasing the demand for plastic products in APAC, which, in turn, drives the masterbatch market in this region.
Global Masterbatch Market: Key Players Overview
Clariant operates through seven business segments namely, additives, catalysts, functional minerals, industrial & consumer specialties, oil & mining services, and pigments. In February 2019, Clariant has expanded its masterbatch production facility in Maine, Sweden, and Singapore. This expansion will help the company to meet the increasing demand from customers.
BASF SE was incorporated in 1865 and is one of the leading chemical companies. BASF SE operates through various business segments namely chemicals, materials, industrial solution, surface technologies, nutrition & care, and agriculture solutions. In 2019, the company generated revenue of USD 66.71 billion.
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