The global masterbatch market size is likely to reach USD 16.35 billion by 2026 owing to the rising number of building and construction activities worldwide. Masterbatches are liquid or solid additives used for painting or for imparting various properties to plastics. Coloring Masterbatch is utilized for coloring or shading plastic items. It can also be used for conveying properties such as UV stabilizers, antioxidant, effect, energy, and bio-degradable. A recent report by Fortune Business Insights offers insights into the market and its prime growth trajectories. As per the report, the value of the market was USD 10.99 billion in 2018 and is likely to exhibit a CAGR of 5.3% during the forecast period, 2019 to 2026.
Asia Pacific to Continue Dominance with Increasing Consumer Expenditure on Infrastructural Development
In 2018, Asia Pacific emerged dominant in the market with a revenue of USD 3,998.14 Million. This is attributed to the high demand for packaging from key economies such as China, India, and Taiwan. Besides this, the rise in consumer expenditure on power and the increasing demand for plastic goods will also help promote the regional market in the forthcoming years. Furthermore, the rapid growth of packaging, consumer goods, and automotive companies and the rise in agriculture sectors is anticipated to help this region continue dominating the market in the coming years.
On the other side, the market in Europe will witness remarkable growth on account of the rising demand from industries such as automotive, building and construction, and the rising popularity of lightweight vehicles in the region.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/masterbatch-market-102353
