Growing demand recycled plastic, innovation in additive products, and growing demand for plastic additives over conventional materials is expected to drive the growth of the plastics additives and master batches market. The global plastics additives and master batches market was valued at USD 46.9 billion in 2018 and is expected to reach USD 69.9 billion in 2026, growing at a CAGR of 5.2% during the forecast period.
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Plastics additives and master batches have a huge application in the construction industry. It is used in a variety of construction applications including pipes, cables, flooring, domes, roofing, windows & doors, storage tanks, hardware containers, insulation materials, and others. The plastics additives and master batches are used in the construction & building industry owing to its properties such as cost-effectiveness, safety, easy-to-install, corrosive resistance, durability, and recycling.
Rising demand for plastics additives and master batches in end-use industries like packaging, consumer goods, building and construction, and automotive & transportation in emerging countries is the key factors attributed to the market growth. Furthermore, the presence of government policies supporting the growth of these industries, lower labor costs, skilled workforce, availability of raw materials, and increasing urbanization enable domestic and foreign companies in establishing their facilities in these countries. On the other hand, the availability of counterfeit and low costs products is acting as a restraint to this market. However, continuous development in carrier resins for master batch and growing demand from several applications is expected to create major growth opportunities during the forecast period.