Masterbatch Market Regional Analysis:
APAC Market Insights
Asia Pacific region is poised to dominate around 36.7% market share by 2035, attributed to population surge, availability of raw materials, adoption of innovative technologies, and low labor costs. For instance, according to World Bank statistics, the population of the South Asia region rose from 1.68 billion in 2011 to 1.9 billion in 2021. Furthermore, key market players are aggressively expanding their operations to support the market demand across the globe. For instance, in February 2021, Avient Corporation completed the expansion of existing production capabilities at its Binh Duong site in Vietnam for color concentrates.
European Market Insights
The growth of the masterbatch market is poised to show notable revenue in the upcoming years. This can be attributed to the due to the increasing demand for polymers and special effects that are used to differentiate the products. There has been an increasing focus in Europe on manufacturing superior products for food packaging & non-food packaging applications. Europe has stringent environmental regulations for plastic production & consumption, which would encourage the production of biodegradable masterbatches. For instance, oxo-biodegradable masterbatch can degrade in the presence of oxygen (Heat and UV light accelerate the process) much more quickly than ordinary plastic and then biodegrade in the open environment.
