Swift emergence of the masterbatch market on the global business landscape can primarily be attributed to the increasing demand for masterbatches in a host of end use sectors especially in food and beverage packaging. The rapid expansion of these end-user industries has, in turn, vigorously augmented the pace at which the masterbatch industry has been progressing in recent times. Moreover, in order to enhance bio-degradable masterbatches which are utilized to manufacture agriculture films, a range of top masterbatch participants are initiating huge R&D investments and various patent activities. The [FURL=https://www.industryarc.com/PressRelease/1640/Masterbatch-Market-Research.html]Masterbatch Market[/FURL] is expected to reach $14 billion by 2024, growing at a CAGR of 5%. The decorative coatings industry is being largely driven by growth in the food and beverage packaging industry. In particular, the Asia Pacific (APAC) region is the largest market for masterbatches globally, driven by growing demand from China, India and Japan.
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In response to demand from end users, masterbatch manufacturers are developing a range of color concentrate additives or combined masterbatches based on a Poly Lactic Acid (PLA) carrier material and engineered for different processing technologies. PLA is gaining increasing acceptance in the market and is seen as a feasible alternative to various types of conventional plastics, due to its good balance between physicochemical properties and sustainability. Obtained from lactide which are derived from starch fermentation and in some cases from biodegradable materials where norms and standards are strictly followed, PLA has found application in industries ranging from automotive, biomedical, and packaging, as well as in the growing industry of 3D printing.
Masterbatch Market: Competitive Landscape
On 23 Jan 2019, BASF SE opened first phase of the new antioxidants manufacturing plant in Shanghai, the plant will produce antioxidants and associated forms and blends for the plastic additives market.
Recently, LyondellBasell, one of the largest plastics, chemicals, and refining companies in the world, has completed acquisition of A. Schulman, Inc.
On 18 Jan 2019, European Union has granted conditional clearance for BASF SA to acquire Solvay’s polyamide business.
Americhem Inc. announces that it has acquired Prescient Color Limited, a wholly owned subsidiary of Sudarshan Chemical Industries Limited, an Indian based company on 1st June 2018.
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