Additive Masterbatch Market was estimated at USD 4.59 billion in 2021 and is predicted to reach USD 6.28 billion by 2026, registering a CAGR of 8.2% between 2021 and 2026.
additive masterbatch is a solid additive for plastic used for coloring plastics (color masterbatch) or imparting other properties to plastics (additive masterbatch). A liquid dosage form is called liquid color ; these are the main factors that have considerably increased the demand for the in the additive masterbatch market, thereby driving the huge growth of the additive masterbatch market in the upcoming years
Market Drivers and Restrains:
The main factors that have considerably increased the demand for the additive masterbatch in the market is mainly due to the Growing industrial production, global population, and the use of plastic in day-to-day products has main reason to rise in the quantum of solid waste. Governments of several countries have implemented strict regulations for encouraging the recycling and reuse of plastic and control the plastic waste. Additive masterbatch is used to enhance the functional properties to recycled plastic. Increasing stringent government norms and plastic recycling about plastics will projected to drive the revenue growth of the additive masterbatch market globally ; these are the main factors that have considerably increased the demand for the in the additive masterbatch market, thereby driving the huge growth of the additive masterbatch market in the upcoming years
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Report is segmented as:
By Type (Antimicrobial, Antioxidant, Flame Retardants),
By Carrier Resin (PE, PP, PS),
By End-use (Packaging, Building & Construction, Consumer Goods, Automotive, Agriculture)
Middle East & Africa
North America has the dominant share in the additive masterbatch is due to the Growing demand for effective packaging materials and rapid growth in the packaging industry are projected to increase the demand for additive masterbatch these are the main factors that have considerably increased the demand for the additive masterbatch in the North America , followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the additive masterbatch Market
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Impact of COVID-19 on Market
The COVID-19 has started in the end of 2019 in Wuhan china; this has affected many industries from different sectors in various countries and also affected additive masterbatch market. Covid-19 pandemic has impacted huge on the sales revenue of additive masterbatch market. Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies, In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the additive masterbatch market growth
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