Masterbatch Market Size to Reach Revenues of over by 2027
Masterbatch Market Overview The global market for masterbatch is set to reach USD 11,903.45 million by the end of 2023, asserts Market Research Future (MRFR). MRFR analysis also concludes that the global market is expected to grow at a CAGR of 5.54% during the forecast period (2018-2023). The future of the global market is likely to be lucrative owing to opportunities in numerous end-use industries, which include packaging, building and construction, consumer goods, transportation, electrical and electronics, and textile. Moreover, growing demand for plastic as substitutes for various materials like metal, concrete, and steel in various end-use industries has worked tremendously in favor of the market. Further, emerging trends like increasing demand of anti-shrinkage and flame retardant masterbatches for polypropylene (PP) pipes and polycarbonate (PC) sheets have had a direct impact on the dynamics of the global market, propelling the market growth. On the flip side, strict go