North America Masterbatch Market

North America Masterbatch Market Size (2024 to 2029)

As per our analysis report, the North America Masterbatch Market is expected to reach USD 8.11 billion by 2029 from USD 5.95 billion in 2024, growing at a compound annual growth rate (CAGR) of 6.4% during the forecast period.

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.

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.

This research report on the North America Masterbatch market has been segmented and sub-segmented based on the following categories.

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 2024 to 2029. This is because coloured pigments are heavily used in the packaging, consumer goods, and construction sectors.

North America Masterbatch Market By Country

• The United States
• Canada
• Rest of North America

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.

KEY MARKET PLAYERS

ASF SE, Cabot Corporation, Clariant, PolyOne Corporation, Ferro Corporation, Tosaf Compounds Ltd, Dow Corning Corporation, Multibase, Foshan Laicai Plastic Masterbatch Co., Ltd, Hebron Ltd, TalMaster, PolyOne Corporation, GABRIEL-CHEMIE Gesellschaft m. b. H, Ingenia Polymers Corp, Plastika Kritis S.A are some of the notable companies in the North America Masterbatch market.

RECENT HAPPENINGS IN THE MARKET

• 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.