UK Color Masterbatches Market Overview
The UK Color Masterbatches Market size is estimated to grow at a CAGR of 5.5% during the forecast period 2022-2027. Color Masterbatch is a term for colored concentrates that are used to provide products with certain physical or chemical qualities and it includes polyethylene, polypropylene, corrosion inhibitors, flame retardant and polyamide. Attractive qualities such as durability, ease of handling, lightweight, shock resistance and flexibility are boosting the UK color masterbatch market. The UK color masterbatch market is being driven by rising demand and reduced costs for expanded polystyrene color masterbatch. The market is anticipated to rise in the next years due to a number of factors, including increased attention on plastic use in the automotive industry to lower vehicle weight and contribute to development in the targeted market. The covid-19 pandemic majorly impacted the UK Color Masterbatches Market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as transportation, textile, food & beverages and others, the UK color masterbatches industry is anticipated to grow rapidly during the forecast period.
UK Color Masterbatches Report Coverage
The “UK Color Masterbatches Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the UK Color Masterbatches Industry.
- The increase in the number of construction projects in the UK is one of the primary reasons driving the growth of the UK Color Masterbatches industry.
- Expanding the use of Color Masterbatches in the food packaging sector and increased penetration of plastics in the electronics industry are the main factors driving the UK Color Masterbatches Market size.
- Color Masterbatches are widely utilized in the packaging industry and for coloring polymers, which promotes the growth of the UK Color Masterbatches Market size.
- However, the fluctuation in raw material prices will hamper the market growth of the UK Color Masterbatches Market.
Figure: UK Color Masterbatches Market Revenue Share, By End-Use Industry 2021 (%)
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UK Color Masterbatches Segment Analysis – by Type
The Standard Color held a significant share in the UK Color Masterbatches Market share in 2021 and is forecasted to grow at a CAGR of 5.7% during the forecast period 2022-2027, owing to the extensive characteristics provided by standard color when compared to other material types such as specialty color, tailor-made color and others. Standard color is utilized in a variety of applications due to its mechanical, heat resistance and weather-resistant capabilities. The high demand for standard colors is rising for application across end-use industries, majorly in transportation and packaging due to their abrasive wear resistance and over-heating bearing feature. Thus, owing to numerous advantages and abundance over other material types, the demand for standard color is growing for application in major industries, thereby boosting the growth opportunities for UK color masterbatches in the coming years.
UK Color Masterbatches Segment Analysis – by Carrier Resin
The Polyethylene Resin held a significant share in the UK Color Masterbatches Market share in 2021 and is forecasted to grow at a CAGR of 5.9% during the forecast period 2022-2027, owing to the extensive characteristics provided by polyethylene when compare to other material types such as polypropylene, corrosion inhibitors, polyamide and others and increasing adoption of polyethylene in various end-use industries such as packaging, automotive and others. Polyethylene resin is a significant component of UK color masterbatches. These resins aid in the production of hard surface topcoats with superior characteristics and protects and color items, enhancing their qualities. It also has great chemistry, a long-lasting surface finish, UV resistance, scratch resistance, general wear, quick drying and excellent sanding for plastic substrates. These extensive properties compiled with increasing application in the packaging and transport industry are majorly driving its segmental growth. Thus, the use of polyethylene resin in packaging and transportation will propel the UK Color Masterbatches Market share.
UK Color Masterbatches Segment Analysis – by End-Use Industry
Packaging held a significant share in the UK Color Masterbatches Market share in 2021 up to 43%. The packaging sector is advancing and developing rapidly and the increasing demand for colored polymers during manufacturing will contribute to market growth in the coming years. The global color masterbatch market is being driven by the need for eye-catching packaging, which necessitates beautiful colors. Color masterbatch satisfies all the demands made by different industries, including cosmetics and consumer products, in order to draw in customers. According to the Package Federation of the United Kingdom, the UK packaging manufacturing industry generated £11 billion in annual sales in 2021. According to GOV. UK, The packaging industry in the United Kingdom will reach $5.2 billion in 2022, representing an 8.8 percent rise over the previous year. With the increasing packaging industry, the demand for UK color masterbatches will also likely increase, as a result of which the UK Color Masterbatches Market share will be flourished over the forecast period.
UK Color Masterbatches Drivers
Bolstering Growth of the Automotive Industry:
The increased demand for light vehicles has boosted the consumption of Color Masterbatches in the automotive industry. The demand for light vehicles is likely to rise over the forecast period as a result of stringent government rules on carbon dioxide emissions and the requirement for fuel-efficient automobiles, which will drive demand for colored masterbatches in the regional market. According to GOV.UK, the UK automotive production in 2020 was 2 million, which is 2.13 million by 2025. According to Advanced Propulsion Centre UK, the UK government has invested £54 million in the automotive industry to promote net-zero emission. With the increasing automotive industry, the demand for UK color masterbatches will also likely increase, as a result of which the UK Color Masterbatches Market share will be flourished over the forecast period
Rising Demand from Building & Construction Industry
UK Color Masterbatches are becoming increasingly important in the building and construction industry, often replacing traditional materials because they are more robust, long-lasting and attractively tough, have high strength and provide UV or weather resistance, have flammable and antimicrobial properties and so on. It is a plastics additive that is mostly used to color plastics or to provide advantageous physical qualities to plastics. Color masterbatches are extensively used in the manufacture of PVC profiles, PVC pipes, PPR pipes, glow signs, water storage tank insulation foam, door indicators, fire extinguishers, Starlite ceiling interiors and other building color plastic components, which drives the market growth of UK Color Masterbatches. According to the Office of National Statistics, UK Monthly construction output climbed by 1.5 percent in volume terms in May 2022, marking the seventh consecutive month of growth following an upwardly revised gain of 0.3 percent in April 2022. According to Construction Products Association, the construction industry will grow by a robust 4.3% in 2022. Thus, the expanding building and construction sector is increasing the usage of UK Color Masterbatches in building and construction, which is expected to drive the market during the forecast period.
UK Color Masterbatches Challenges
Fluctuation in Raw Material Prices:
The UK Color Masterbatches Market expansion could be hampered by fluctuation in raw materials. The primary raw materials utilized in color masterbatch processing are polyethylene, polypropylene, polyamide, polymers, titanium dioxide and calcium carbonate. Polymers account for around half of total manufacturing costs; they serve as a medium through which color pigments are administered and are thus vital. As polymers are crude oil derivatives, their prices are as volatile as crude oil prices. Therefore, the volatility of crude oil may restrict material production and restrain market expansion. According to the BP Statistical Review of World Energy 2021 report, crude oil prices have fluctuated in recent years. For instance, the Brent crude oil price decreased from US$52.39/bbl in 2015 to US$43.73/bbl in 2016, then increased from US$54.19/bbl in 2017 to US$71.31/bbl in 2018 and then decreased to US$41.84/bbl in 2020. This results in a considerable increase in UK Color Masterbatches' prices, which drives up manufacturing costs and reduces manufacturers' profit margins, thereby limiting the UK Color Masterbatches Market growth.
UK Color Masterbatches Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the UK Color Masterbatches Market. The top 10 companies in the UK Color Masterbatches Market are:
- BASF SE
- Polyone Corporation
- Clariant AG
- Ampacet Corporation
- Techmer PM Inc.
- Standridge Color Corporation
- Ferro-Plast Srl
- Cabot Corporation
- 9Uniform Color Company Inc.
- In February 2022, Ampacet launched ProVital+ Colors, a collection of medical-grade color solutions intended exclusively for pharmaceutical packaging, medical devices and in-vitro diagnostic equipment.
- In November 2020, Cabot Introduced New PLASBLAK® XP6801D Black Masterbatch Formulation The next generation of black styrene-acrylonitrile masterbatch for styrenics applications has been introduced by Cabot.
- In December 2019, BASF launched "Sicolen" B, a new bio-based masterbatch for recycled polyethylene that complements its "Colors & Effects" portfolio and contributes to the three solutions currently being developed to make plastics more sustainable: compostable biopolymers, bio-based plastics and recycled polymers.
Report Code: CMR 0118
Report Code: CMR 1225
Report Code: AIR 0003
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