Special effect masterbatches are mixtures of special pigments and additives that are encapsulated, and used in the manufacturing of plastic products. Raw polymer can be colored and special effects can be added to the finished products with the help of special effect masterbatches. The global market for special effect masterbatches is likely to exhibit vast opportunities in developed and developing economies.
Appearance Effects to Register Dominance in Special Effect Masterbatches Market
Appearance Effects segment has been identified to be the most prominent segment in the Special Effect Masterbatches market. This segment is estimated to account for ~60% of the global demand in terms of value in 2018 owing to number of factors including higher production rates and increasing adoption rates across a wide array of end-use applications. Furthermore, the market for appearance effects segment is expected to witness a CAGR of over 5% during the long-term forecast.
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The manufacturers of masterbatches have been offering a number of appearance effect masterbatches including that of metallic, edge glow and pearlescent appearance. Besides, manufacturers are inclined towards offering other advanced effects such as rainbow effect through polychromatic and holographic effects. All such factors along with growth in application industries tend to provide a hike to the appearance special effects market over the forecast period.
Packaging to be Highly Lucrative Application Industry within the Special Effect Masterbatches Market
The Packaging segment is forecast to continue its dominance in the special effect master batches market throughout the forecast period. The segment accounted for a share of a little over 35% of the market share in terms of value in 2018. High growth is forecast owing to high adoption of special effect masterbatches for Consumer Care products, Food products and many other packaging applications. The application of special effect masterbatches in flexible packaging is on a rise. This will further push the demand growth of Special Effect Masterbatches in the packaging market segment. Furthermore, the prime industries of packaging including food & beverages, personal care and consumer electronics are also observing substantial growth thereby leveraging adoption opportunities for packaging solutions.
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Europe to lead, Asia to follow
Europe is identified as the key region for Special Effect Masterbatches market however, the Asian region will offer greater market opportunities and growth. Europe accounted for around one third of the global demand (in terms of value) in 2018.
In addition, the market for Special Effect Masterbatches in the region is estimated to be in line with that of the global GDP growth. This growth has been attributed to strong demand from a number of end-use industries and its dominance in the global masterbatches market (parent market). Moreover, packaging, automotive and consumer appliance industries in the Asian region are observing growth, which opens wide avenues for the Special Effect Masterbatches consumption over the forecast period.
The section on competitive landscape in the Special Effect Masterbatches market report provides insightful information with regards to key market players, their business strategies and global position. The demand for the Special Effect Masterbatches is estimated to exhibit a CAGR just above the global GDP growth rate. The market contains number of players with regional markets dominated by local manufacturers.
New Product launches, product innovation, capacity expansions, collaborations and merger & acquisitions have been the key growth strategies of Special Effect Masterbatches manufacturers. This further helps the companies expand remain competitive in the market. Key players operating in the global market for Special Effect Masterbatches include PolyOne Corporation, Clariant AG, Gabriel-Chemie Group, Ampacet Corporation, Viba S.p.A., Americhem Inc. and others.
The global market for Special Effect Masterbatches is segmented on the basis of Effect type, application and region. On the basis of type, global Special Effect Masterbatches market is segmented as Appearance Effects, Functional Effects and Material Effects. Further, the appearance effects segment is bifurcated into Metallic, Edge Glow, Pearlescent, Transparent, Sparkle Mist, Iridescent and Fluorescent sub-segments.
Likewise, the Functional Effects segment contains Photo chromatic, Thermo chromatic, Glow in the Dark and Chroma Shift sub-segments. The Material effect further covers Stone/Granite/Marble, Tortoise Shell, Wood Grain and Others. On the basis of application, the market is segmented into Hygiene & Baby Product, Automotive, Home care & Household, Consumer Appliances, Packaging, Sports & Leisure and others.
The Packaging segment is further divided into Consumer Care, Food & Beverages, Industrial and others. Moreover, the Special Effect Masterbatches market has been evaluated across primary regions such as North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East and Africa (MEA).
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