Color Concentrates Market: Additive Masterbatches Color concentrates are used in plastic polymers to give color to plastic, which are bland and boring. Color concentrates are used in the form of solid color and additive masterbatches. The color concentrates offers various significant advantages such as better performance, storage, cleanliness, and ease of use offer various significant advantages over pre-colored resins, liquid colors or raw pigments in most plastic applications. Color concentrates are also used in liquid form and added accurately in small amounts in the manufacturing of plastic products In terms of application, packaging is the leading segment of the global color concentrates market. Different color packaging of bottles, containers, cosmetic tubes, bags, caps, etc., use color concentrates to distinguish products and offer an attractive look to the products. Color concentrates are used to color automotive parts and appliances, and flexible food & beverages packaging.
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Key Drivers for Global Color Concentrates Market The global color concentrates market is driven by the increase in use of aesthetics packaging industry. Rise in demand for packaged food is augmenting the demand for color concentrates in packaging industry. The global color concentrates market is also driven by the increase in demand for plastic materials, as these materials have superior characteristics, including heat resistance, chemical stability, and can easily blended in plastics.
Automotive Segment to Offer Lucrative Opportunities Automotive segment is expected to provide lucrative opportunities for color concentrate manufacturers in the near future. The scenario of automotive industry is going to change after 2020, and most of the vehicles are going to be electric vehicles. Electric vehicles mainly consists of plastics and composites. Moreover, metal parts are being replaced by plastic components, thus augmenting the use of color concentrates in vehicles.
Non-recyclability of Plastics to Hamper Market The major challenge currently being faced by companies is recycling of plastics. Color concentrates are blended into plastics, which cannot be recycled. Only 9% of the global plastics is recycled, while others are disposed in landfills. Increase in cost of color matching is hampering the demand for color concentrates. Moreover, it is not suitable for use in some applications.
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Asia Pacific Expected to Hold Major Share of Global Color Concentrates Market The global color concentrates market can be segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa Asia Pacific is a leading consumer of color concentrates, followed by North America and Europe. In Asia Pacific, China is estimated to be the most prominent market for color concentrates due to the increase in demand from various end-use industries. India, Japan, Indonesia, and Thailand are the main countries contributing to the growth of the color concentrates market in Asia Pacific. The global color concentrates market is expanding in North America due to brand development activities, innovation, and favorable environment to develop products with enhanced properties. Europe also holds a significant share of the global color concentrates market due to the presence of major players, such as BASF SE, and Penn Colors, in the region Rise in imports of color concentrates in Latin America and Middle East & Africa due to their excellent cleaning properties is likely to boost its demand in these regions
Key Market Players
The global color concentrates market is highly concentrated with leading manufacturers accounting for approximately 20%-30% share of the market. Key players operating in the color concentrates market include: Plastics Color Corporation Chroma Color Corporation Mexichem Specialty Compounds Inc. Penn Color Inc. COLOR MASTER INC Colortech Inc. Teknor Apex AMERICHEM Ampacet Corporation RTP Company PolyOne Corporation A. Schulman Others
Global Color Concentrates Market: Research Scope
Global Color Concentrates Market, by Polymer Olefins Styrenics PET Engineering plastics Thermoplastic elastomers (TPE) Others
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Global Color Concentrates Market, by Technology Injection molding Blow molding Spinning
Global Color Concentrates Market, by Application Consumer products Packaging Medical & healthcare Electrical & electronics Building & construction Automotive Others
Global Color Concentrates Market, by Region North America U.S. Canada Europe Germany France U.K. Italy Spain Russia & CIS Rest of Europe Asia Pacific China Japan India ASEAN Rest of Asia Pacific Latin America Brazil Mexico Rest of Latin America Middle East & Africa GCC South Africa Rest of Middle East & Africa
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