The plastic masterbatch industry is an industry affected and greatly influenced by the sources of fuel and consumption from other industries and services. In 2016, the global plastic masterbatch market in general reached more than 263 million tons. This is considered as an impressive growth figure. In this article, we would like to provide some insights on the overview of masterbatch industry at the present.
Overview the plastic masterbatch industry in the past few years
Following the development of consumer demand in the past years, the plastic masterbatch industry is expected that revenue in this industry will reach about 560 billion USD worldwide until 2024. Among them, the complex plastic packaging products, construction plastic and products made by hard plastic (mainly used for storage, containing foods, chemicals, etc.) dominates up to 65% of the total demand for plastic. However, the segment in which consume plastic masterbatch with the highest growth rate, at nearly 4% per year, belongs to industries involved in the production of automobiles and electrical and electronic products. Along with the tremendous development of the plastic and masterbatch manufacturing industry, the world is also facing the problem of plastic waste, which is the largest source of waste and makes it difficult to handle and recycle nowadays.
The global plastic masterbatch manufacturing industry has witnessed the rise of Indo-China regions
The process of building the global packaging and plastic products industry has undergone various fluctuations over the past five years. The plastic masterbatch manufacturers in Europe and in the US are the main competitors of Asian manufacturers. In the past, European and North American companies were the leading plastic producers (including both plastic materials and plastic products). However, at the present, China has risen to become the largest and most important global plastic producer, with a scale accounted for about 25% of global production, followed by Europe (about 20%) and the US (about 19.5%). In the combination, the Americas and Europe together accounted for about 45% of global production of plastic masterbatch and are on par with those produced in the Asia Pacific region.
The rapid growth of developing countries in Asia affected the plastic masterbatch production in this region
Meanwhile, revenue from masterbatch manufacturing industry in North America in 2017 accounted for the highest proportion and accounted for 52.78% of revenue share. Also during the period from 2012 to 2017, the demand for plastic products increased with a stable level of about 3.7% per year. Consumer demand in developing countries such as China, India and Vietnam is increasing at a rapid rate, especially spending on daily necessities such as mobile phones and computers, food and beverages, clothing, cars and even medical equipment for personal needs. This consumption growth comes with much greater expectations for both plastic masterbatch producers and plastic-related products suppliers.
The market share of global plastic masterbatch production
In 2017, the market share of masterbatch production contains 5 main groups with North America is recorded as the leading region in production responsible for 52.78% of total plastic and masterbatch manufacturing in the world. Following North America is the European market with 27.35% and the Asia-Pacific market with production capacity accounted for 16% of the total global production. The two bottoms in the list are South America and the Middle East with 2.91% and 0.96%, respectively.
European countries & Asia countries are on top of the plastic masterbatch exports proportion
By the end of 2017, total revenue from export sections related to the plastic masterbatch materials and products had reached 72.7 billion USD globally. Overall, the export value of plastic goods and masterbatch manufacturing products had increased by an average of 5.2% per year for all exporting countries since 2013. By this time the export value was only USD 69.1 billion. From 2016 to 2017, global export growth has exceeded 8.4%. Europe is the region with the highest proportion of exports with an increase of 43.1%, closely following this growth rate in Asia with an increase of 41.6%. In the top three of the highest export sectors for plastic products and raw materials is North America with 13.8%.