Flame retardant Masterbatch market: Introduction
Masterbatch is defined as a mixture of specific quantities of additives and/or colorants that are dispersed in a carrier resin. Masterbatch imparts specific properties and/or desired color to the plastic and ensures efficient, effective and economical dispersion of additives in the resin. Additive masterbatches are those that are used to impart specific properties to the plastic. These are composed of additives or a combination of additives dispersed in a compatible carrier resin. Commonly used additive masterbatches include antioxidant, flame retardant, UV resistant, anti-static and anti-foam masterbatches, among others. Flame retardant Masterbatch are additives which when added to the polymer in order to reduce the tendency of the end product to catch fire. Moreover, incorporation of flame retardant Masterbatch also helps in reducing the tendency of the fire to spread rapidly. Use of flame retardant Masterbatch is necessary, especially in electronics and automotive applications.
It is difficult to imagine the interior components and exterior parts of vehicle without plastics. To reduce the flammability risks from vehicular heat generation and to provide strength, flexibility, etc., almost every plastic part of an automobile must be fire resistant. For the same, flame retardant Masterbatch must be used in order to impart the flame resistivity and thermo stability into plastic materials. Given the increase in demand for plastics for automotive applications, the demand for flame retardant Masterbatch is also expected to grow over the forecast period.
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Flame retardant Masterbatch market: Dynamics
Over the recent past, there has been significant growth in the automotive vehicle production, especially electric vehicles, owing to which demand for plastic materials is increasing incessantly which in turn is expected to drive the demand for flame retardant Masterbatch market. Along with this, Flame retardant Masterbatch is preferred in several applications, such as building & construction, household appliances and many other appliances. Thus, growing Infrastructure development in developing and developed countries such as India and China and Brazil, among others is the key factor driving growth of the building and construction industry. Attributing to this, the demand for plastic products is rising significantly which in turn is expected to drive the flame retardant Masterbatch market. In Europe, various regulations such as REACH and WEEE (Waste Electrical and Electronic Equipment) restrict the use of brominated and chlorinated flame retardant Masterbatch as they adversely affect the environment. Owing to this, the use of halogenated flame retardant Masterbatch is highly regulated in Europe, which is subsequently affecting the demand for flame retardant Masterbatch in plastic processing
Flame retardant Masterbatch market: Regional Outlook
Europe is expected to witness significant growth opportunities in the global Flame retardant Masterbatch market. With stringent government regulations, the flame retardant Masterbatch market is gaining traction in applications, such as automotive, building & construction, to the name of few. Europe holds a significant share in the global automotive production. Production of passenger cars in Europe increased by 2.6% Y-o-Y between 2017 and 2018. Further, stringent government norms pertaining to CO2 emission and pollution control promote reduction in vehicle weight so as to increase vehicle efficiency. Attributing to which, the demand for high performance plastics has increased in vehicle interiors and exteriors. This, in turn, has led to the increase in demand for flame retardant Masterbatch to impart thermal stability into plastics for the automotive industry. Prompt growth of plastic and packaging sectors in APAC is in turn expected to drive the flame retardant Masterbatch market. In APAC, China is a major manufacturer of plastic and contributed over 27% to the global plastic production in 2017. Further, the growing demand for various high performance plastic materials with functional properties for various end-use applications will subsequently result into increased demand for flame retardant Masterbatch.
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Flame retardant Masterbatch market: Key Players
Some of the key players identified across the value chain of the global flame retardant Masterbatch are listed below;
- Albemarle Corporation
- Ampacet Corporation
- BASF SE
- Clariant International AG
- Cromex S/A
- DIC Corporation
- Dongguan GreenTech Plastics Co., Ltd
- DOVER CHEMICAL CORPORATION
- FERRO-PLAST Srl
- LANXESS AG
- Polyplast Muller GmbH
- Tosaf, among others