DUBLIN--(BUSINESS WIRE )--The "Filler Masterbatch Market Size, Share & Trends Analysis Report By Carrier Polymer (Polypropylene, Polyethylene), By Application (Injection & Blow Molding, Films & Sheets, Tapes), By End Use, By Region, And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global filler masterbatch market size is anticipated to reach USD 521.8 million by 2028. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028.
The market is anticipated to grow well due to the use of filler masterbatches for providing color variants and imparting other properties to plastic materials used in the automotive, packaging, building and construction, and consumer goods industry across the globe. Calcium carbonate is commonly used as filler in the plastic industry which helps in reducing plastic melting pressure when shaping plastic into product forms.
Calcium carbonate as a filler masterbatch material acts as a relatively good stabilizer to improve bubble floatation in the production of plastic beads in achieving a smooth and beautiful surface finish. Filler masterbatch helps manufacturers across various industries reduce the production costs and results in increased durability, hardness, impact resistance, and adhesive properties along with improving the opacity and glossiness of the end product's surface. It is used in combination with a wide variety of plastics ranging from thermoplastics, flexible plastics, and rigid plastics.
The building and construction industry has witnessed growth in recent years due to the growing population and increased urbanization resulting from increased job opportunities and better living conditions. Polyethylene and polypropylene are some of the most widely produced plastics in the world. Polypropylene is used for a variety of plastic building materials products that require fatigue and heat resistance. Some common applications include piping systems, electric cable insulation, plastic machine parts, and carpeting. The use of polypropylene in the production of construction materials is expected to drive the market for polypropylene carrier polymer in filler masterbatch.
Key players are carrying out strategic initiatives such as mergers and acquisitions to strengthen their position in the market. For instance, in July 2020 PolyOne Corporation completely acquired the masterbatch business of Clariant a Swiss multinational specialty chemicals company at USD 1.56 billion and was renamed to Avient. This acquisition is expected to provide PolyOne Corporation complete control of the Clariant Masterbatch business which includes 46 manufacturing operations and technology centers in 29 countries.
Some of the masterbatch manufacturers are executing various expansion plans by establishing new manufacturing facilities to cater to the rising demand for plastic requirements in the automotive, packaging, and consumer goods industry. For instance, in March 2021, JJ Plastalloy announced opening a new manufacturing facility in Gujarat to provide masterbatches and compounds for thermoplastic products.
Filler Masterbatch Market Report Highlights
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900