The plastic industry is one of the fastest growing manufacturing sectors in India and the demand of plastics has surged up as a result of increased market penetration in industries such as packaging, agriculture, healthcare, aerospace, electronics, automotive, and consumer goods.
Now, addressing a vital component in the plastics industry worldwide, masterbatch consists of pigments and additives which impart required color and characteristics to the end products. It is a concentrated mixture of pigments and additives encapsulated during a heat process into a carrier resin, which is then cooled and cut into a granular shape.
Let us look at some of the properties that masterbatch has to offer:
Let us look at some of the incredible benefits masterbatch has to offer:
According to TechSci Research report, the masterbatch market in India is to grow at a CAGR of over 11% through 2025, on account of strong growth in the packaging and automotive sectors, favorable government regulations, rapid industrialization, and commercialization. Furthermore, there is a growing demand for light-weight and fuel-efficient vehicles, which will further fuel the growth of the Indian plastic masterbatch market. Another factor that will influence the increase in demand is the strong emphasis on the development of eco-friendly cars by the government.
The demand for masterbatch is growing rapidly in the construction sector as well. Especially when it comes to insulation materials, floorings, performance safety windows, storage tanks, pipes, doors, and cables. Growing commercial and residential projects are driving infrastructural development forward. Moreover, rising consumer awareness about attractive interiors is driving the demand for masterbatch material types.
The growing use and consumption of PVC and CPVC in numerous products, such as wires, cables, pipes, PVC composites, waterproofing membranes, food packaging, medicinal packaging, are all expected to contribute in the growth of the Indian masterbatch market.
If you are in the masterbatch industry, then Plastivision is a great platform for you to showcase your product range and network with industry professionals. Register now!