Future Market Insights
Color concentrates are the pigments blended with a carrier resin. These are the compounds to facilitate the coloring of a wide variety of plastics and for various other applications. The increasing demand from end use industry such as paint, packaging, consumer goods, agriculture (such as mulch film, greenhouse & nursery films) and many others are spurring the demand for color concentrates market.
There are two major components that are very commonly need to be considered for color concentrate. Molecular weight of the carrier resin and composition are the two main components used to produce the concentrate. Color concentrates are generally add to the base resin at stages of 2 - 5 lb per 100 lb of the natural material. Therefore, assuming that the concentrate are used in right amount, the carrier polymer is generally made up from 1% to 3% or more of the final compound therefore, selection required much attention. Moreover, most of the manufacturers work closely with their clients and are focused on developing colors specific to the client’s requirements.
Over the forecast period, color concentrate market for liquid form segment is projected to grow at the significant CAGR owing to numerous properties offered by liquid form color concentrates, which include, reduced energy consumption in their manufacturing, accuracy in metering, enhanced color dispersion, low material costs, rapid color development, and increased color consistency. The end use packaging industry segment is important for the color concentrates market and is anticipated to grow at the substantial CAGR during the forecast period.
Color Concentrates Market: Dynamics
The growing use of aesthetics in packaging and increasing demand for plastics are spurring the demand for color concentrate market. Moreover, industrialization in emerging economies and introduction of universal carrier resins are driving demand for color concentrates market. However, increased costs due to color matching are hampering the growth of color concentrates market. Also, recycling of plastics is a major challenge for color concentrate market.
Color Concentrates Market: Segmentation
On the basis of form, the color concentrates market can be segmented into:
On the basis of end-use industry, the color concentrates market can be segmented into:
Color Concentrates Market: Regional Outlook
The Asia Pacific Excluding Japan (APEJ) region is projected to register rapid growth due to the growing adoption of color concentrate in an increased scale from the end user industries. Along with this, the expansion of end use industries in China, India, Indonesia, and Thailand among others are also contributing in the growth of color concentrates market in APEJ region. In APEJ region China is estimated to be the most prominent market for color concentrates. The growth of color concentrates market in developed regions such as North America, Western Europe, and Japan is expected to be driven by the increase in the growth of end use industries such as automotive.
Over the years, color concentrate continued to have strong prospects for growth and market penetration. North America increasingly become a key center for global brand developments and innovation, making an ideal place to develop new colors and property enhancing products. The NAFTA region is seeing a significant volume of new investment both from the both new entrants and traditional major player.
Color Concentrates Market: Market Participants
Examples of some of the market participants identified in the Color Concentrates market across the globe are:
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