Global Sustainable Masterbatch Industry Analysis Report 2023: Market Size, Share, Trends, Opportunities and Forecasts, 2018-2028

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Dec 14, 2023, 17:30 ET

DUBLIN, Dec. 14, 2023 /PRNewswire/ -- The "Sustainable Masterbatch Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product Type, By Application, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.

Global Sustainable Masterbatch market is expected to grow impressively through 2028 due to the growing demand from the packaging and medical industry all over the world. The global sustainable plastic packaging market was valued at roughly USD 88 billion in 2021.

Growing consumer interest in environment-friendly products has had a significant impact on the market for sustainable masterbatch. In accordance with this, the use of plastic in the automotive industry for the creation of lightweight vehicles also acts as a significant factor favoring the expansion of the sustainable masterbatch market throughout the forecast period.

Additionally, the rising demand for attractively packaged food and beverages, the substitution of plastics for metal in automotive applications, and the rising popularity of bioplastics and biodegradable plastics are all factors that are positively influencing the development of the sustainable masterbatch market.

The substantial presence of numerous end-use industries, including automotive, packaging, building and construction, and consumer products, is the primary driver responsible for the market's expansion. However, increasing government regulations, many petroleum-based masterbatch producers, and the accessibility of low-cost, low-quality products could significantly slow down the development of the sustainable masterbatch market during the forecast period. Meanwhile, the increasing use of recycled plastic and the non-biodegradability of plastics could pose a threat to the market's expansion during that time.

Another benefit of sustainable masterbatch is that it can help to reduce the cost of plastic production. Sustainable masterbatch is often less expensive than traditional masterbatch, as it requires less energy and resources to produce. This can make it a cost-effective solution for companies that are looking to reduce their environmental impact while also maintaining their profitability.

Additionally, rising R&D in sustainable masterbatch, rising demand for biodegradable masterbatch, rapid technological advancements and coatings, and growing applications for PLA-based plastics will all provide the sustainable masterbatch market with a variety of growth opportunities during the forecast period.

Drivers of Market Growth:

Consumer and NGO Pressure: Consumers, along with non-governmental organizations (NGOs) and environmental advocacy groups, are putting pressure on companies to adopt more sustainable practices. This includes reducing plastic waste and using renewable resources.
Corporate Sustainability Goals: Many companies have set their own sustainability goals, often including reducing their carbon footprint and environmental impact. Using sustainable masterbatch aligns with these corporate sustainability initiatives.
Technological Advancements: Innovations in recent years have led to the development of sustainable masterbatches with better performance characteristics and lower production costs. Bio-based materials and biodegradable additives have been introduced to reduce environmental impact.
Increased Investment in R&D: Many companies are investing in new technologies and solutions to meet the rising demand for sustainable products. This investment has resulted in the development of innovative and eco-friendlier sustainable masterbatch solutions.

Challenges Faced by the Market:

Cost of Raw Materials: Sustainable masterbatch is often made from natural materials like starch, which can be more expensive than traditional petrochemical-based masterbatch. This cost difference can make it challenging for companies to adopt sustainable masterbatch, especially if they cannot pass on the additional costs to customers.
Lack of Standardization: The sustainable masterbatch market lacks universally recognized standards, causing confusion for companies trying to choose products. Additionally, the absence of regulatory frameworks can lead to inaccuracies in product labeling and consumer mistrust.
Competition from Other Sustainable Materials: Biodegradable plastics and compostable materials are gaining popularity as alternatives to traditional plastics. While not suitable for all applications, these materials present competition to sustainable masterbatch.

Recent Developments in the Market:

Biodegradable and Compostable Masterbatches: The introduction of biodegradable and compostable masterbatches made from natural materials like starch and cellulose has led to more eco-friendly plastics. These masterbatches can reduce plastic waste in landfills and oceans.
Recyclable Masterbatches: Recyclable masterbatches are designed for easy separation during the recycling process, contributing to reduced plastic waste and improved sustainability in the plastics industry.
Renewable Energy Use: Many masterbatch manufacturers are adopting renewable energy sources like wind and solar power to reduce their carbon footprint and enhance sustainability.
Use of Recycled Materials: Some manufacturers are incorporating recycled materials into masterbatch production, promoting a circular economy and reducing waste.
Increased Focus on Sustainability: The plastics industry has shown a growing awareness of sustainability, leading to a greater emphasis on sustainable masterbatch production.
Collaboration and Partnerships: Companies in the masterbatch industry are collaborating with others to promote sustainability, leading to the development of new technologies, materials, and best practices sharing.

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in Global Sustainable Masterbatch market.

BASF SE
Cabot Corporation
Avient Corporation
Ampacet Corporation
Sukano AG
Gabriel-Chemie Gesellschaft m.b.H.
Tosaf Compounds Ltd
Astra Polymers.
Akro Plastic GmbH
Rapid Colour Services Ltd

Report Scope:

Sustainable Masterbatch Market, By Product Type:

Polylactic Acid (PLA)
Polybutylene adipate-co-Terephthalate (PBAT)
Polyethylene Terephthalate (PET)
Starch Blends
Polyethylene (PE)
Others

Sustainable Masterbatch Market, By Application:

Packaging
Medical
Automotive
Agriculture
Others

Sustainable Masterbatch Market, By Region:

North America
United States
Mexico
Canada
Europe
France
Germany
United Kingdom
Spain
Italy
Asia-Pacific
China
India
South Korea
Japan
Singapore
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE

For more information about this report visit https://www.researchandmarkets.com/r/2bhsqu

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