North America Masterbatch Market Forecast to 2031 - Regional Analysis - by Type (White, Black, Additives, Color, Filler, and Others), Polymer (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polystyrene, and Others), and End-use Industry (Buildin

North America Masterbatch Market Forecast to 2031 - Regional Analysis - by Type (White, Black, Additives, Color, Filler, and Others), Polymer (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polystyrene, and Others), and End-use Industry (Building and Construction, Automotive, Packaging, Agriculture, Electrical and Electronics, and Others)

The North America masterbatch market was valued at US$ 2,367.76 million in 2023 and is expected to reach US$ 3,467.24 million by 2031; it is estimated to register a CAGR of 4.9% from 2023 to 2031.

Growing Demand for Plastic Packaging in Emerging Economies Fuels North America Masterbatch Market

Masterbatch is widely used for coloring, UV stabilization, anti-block properties, and flame retardancy in plastic packaging solutions such as films, bottles, containers, sheets, and wraps. It offers several advantages such as precise color control, cost-effectiveness, ease of handling, and customization, making it a preferred choice for achieving desired properties in the packaging products.

Plastic is non-biodegradable material and requires adequate reusable and recycling system. Increasing sustainability initiatives, environmental concerns related to plastic disposal, and formulation regulations are among the factors fostering the demand for recycled plastic. Many organizations and companies have transitioned toward the utilization of recycled plastics for the packaging of finished goods. The demand for recycled plastics in the packaging industry further creates an arena for manufacturers to develop and launch compostable or 100% recycled masterbatch. Therefore, the growing demand for plastic packaging in emerging economies bolsters the growth of the masterbatch market.

North America Masterbatch Market Overview

According to the International Organization of Motor Vehicle Manufacturers, North America registered a production of 14.79 million vehicles in 2022. As per a report by the American Automotive Policy Council, car sales are expected to exceed 17.7 million vehicles per year by 2025. According to the International Trade Administration data released in 2022, the automotive industry of Mexico is one of the major sectors, accounting for 3.5% of the country's GDP and 20% of the manufacturing gross domestic production. Color masterbatches are used for automobile manufacturing applications such as front bumper, rear bumper, compartments, mudguards, bike parts, and electric vehicle parts.

According to the American Coatings Association, in the US, architectural coatings are the largest sector and segment of the paint industry, accounting for more than 50% of the total volume of coatings produced annually. According to the US Department of Transportation Federal Highway Administration, the US Government signed the Infrastructure Investment and Jobs Act in 2021, encompassing long-term infrastructure investment, providing US$ 550 billion over fiscal years 2022-2026 for the construction of roads, bridges, and mass transit, and water infrastructure.

Traffic barricades, roofing materials, construction pipes and fittings, molded transport containers, siding and cladding, and construction net are among the major construction applications of masterbatch. Thus, the factors mentioned above drive the masterbatch market in North America during the forecast period.

North America Masterbatch Market Revenue and Forecast to 2031 (US$ Million)

North America Masterbatch Market Segmentation

The North America masterbatch market is categorized into type, polymer, end use industry, and country.

Based on type, the North America masterbatch market is divided into white, black, additives, color, filler, and others. The white segment held the largest North America masterbatch market share in 2023.

In terms of polymer, the North America masterbatch market is segmented into polyethylene, polypropylene, polyethylene terephthalate, polystyrene, and others. The polyethylene segment held the largest North America masterbatch market share in 2023.

By end-use industry, the North America masterbatch market is divided into building and construction, automotive, packaging, agriculture, electrical and electronics, and others. The packaging segment held the largest North America masterbatch market share in 2023.

By country, the North America masterbatch market is categorized into the US, Canada, and Mexico. The US dominated the North America masterbatch market share in 2023.

Avient Corp, Ampacet Corporation, Cabot Corp, LyondellBasell Industries NV, Penn Color Inc, Americhem, FRILVAM SPA, and Polyvel Inc are some of the leading companies operating in the North America masterbatch market.

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