Page 62 - Plastics News May 2023

IN THE NEWS

Special effect masterbatches market to grow at 5.5% CAGR
for long-established materials in the
medical industry.
Leading players in the food and bev-
erage industry in North America are
focusing on advanced and innovative
product packaging by high-end us-
age of numerous custom-coloured
masterbatches, in order to gain con-
sumer attention for their products. In
addition, the high demand for special
effects masterbatches in food packag-
ing in the region is increasing with the
advent of new packaging technologies
such as UV resistant, antioxidant, anti-
microbial and more attractive.
Packaging accounts for a significant
share of the overall masterbatches
ccording to a recent report pub- facturing of plastic products. The raw market in terms of end-use industries.
Alished by Research Dive, titled, polymer can be coloured, and special Manufacturers of consumer products
Special Effect Masterbatches Market effects can be added to the finished are progressively looking for pack-
by Effect Type, and Application: Glob- products with the help of special ef- aging materials that ensure efficient
al Opportunity Analysis and Industry fect masterbatches. storage and transportation and en-
Forecast, 2019-2026, the global spe- A variety of special effects can be able low-cost production. Thus, the
cial effect masterbatches market size given to the polymers with the help advancements in technology lead to
was valued at USD 3,062.2-million in of special effect masterbatches, which the growing use of masterbatches for
2019, and is projected to reach USD will enhance the attractiveness of pol- packaging in various industries, such
4,465.5-million by 2025, registering a ymers or end-product. Innovations as food and beverages, automotive,
CAGR of 5.5% from 2019 to 2026. and new product developments have etc.
Asia-Pacific dominates the market, been observed in the production of The growing demand for specialty
followed by Europe, North America, special effects masterbatches. masterbatches in the plastic industry
Latin America, and Middle East & Afri- Changing needs and preferences of for several products, such as extruded
ca. China dominated the global special customers are majorly defining the profiles, hoses, pipes, and belts is ex-
effect masterbatches market share trends in the special effect master- pected to drive the demand for mas-
in the Asia-Pacific region in 2019, batches market. The predesigned terbatches in the region. The growth
whereas India is expected to grow special effect masterbatches are in of polymer in emerging countries of
at a significant rate in the Asia-Pacific high demand in industrial applications. East Asia and South Asia is likely to
during the forecast period. Special effects masterbatches materi- continue as a significant driving factor
Special effect compounds can increase als are used for the development and for market growth over the forecast
years.
consumer appeal, provide beneficial manufacturing of medical devices.
features, mimic other materials and Due to their ease of processing, com- Thus, it leads to the high demand for
add visual impact to your plastic prod- paratively lightweight, non-ferrous specialty masterbatches in the plastic
ucts. Special effect masterbatches properties, flexibility and superior and fibre segment in East Asia and
usually include unique pigments or fill- biocompatibility, masterbatches have South Asia region. However, fluctu-
ers to achieve different visual effects become an integral component in a ating petro-chemical prices are influ-
such as metallic, pearlescent, sparkle wide range of medical devices, diag- encing the cost of masterbatches and
mist, fluorescence, transparent, etc. nostics and drug delivery systems, and increasing challenge of finding the
right supplier is expected to hinder
These masterbatches are mixtures of surgical instruments, orthopedic im- the growth of the special effect mas-
special pigments and additives that are plants and orthopedics. New plastic terbatches market.
encapsulated and used in the manu- formulations are regularly substituted

62 PLASTICS NEWS May 2023