The global special effect masterbatches market size is expected to reach USD 4.69 billion by 2027
Special effect masterbatches are used for medical applications are medical equipment, drug delivery systems, and single-use devices.
They are also used for diagnostic imaging equipment such as MRI scanners, CT scanners, ECG machines, ultrasound machines, x-ray systems, patient monitoring systems, and diagnostic kits. Special effect masterbatches are also used in single-use devices such as surgical clips, wound clips, filter media, housing and functional parts for disposable items, and multiple-use devices such as components for sterilizer equipment, grips/handles for surgical instruments, minimally invasive surgical devices.
Product development and process innovation are key aspects of the special effect masterbatches market. Constantly changing consumer needs and preferences are defining trends in the current market scenario. Pre-designed special masterbatches are of high demand in industrial applications such as automotive, packaging, consumer appliances, etc.
One of the technologies used for making special effect masterbatches is blow molding. Blow molding is a robust manufacturing technology, with the help of which, resonating plastic pieces are manufactured. The common blow molding types include injection blow, extrusion, and injection stretch blow molding.
Furthermore, blow molding has several advantages, and it is used in the automotive industry. Also, due to the advancement in this technology, it can now compete with injection molding and thermoforming technologies. An important new area for this technology is in packaging products.
The gross domestic product (GDP) is one of the prime factors indicating the economic health of any country. Since the global economic crisis in 2008, the world GDP has witnessed significant growth in the past seven-eight years. The global GDP is estimated to grow at an average rate of 3% per year and is expected to double in the next two decades.
The global special effect masterbatches market is predicted to remain buoyant throughout the forecast period. The companies continually reinventing growth drivers by producing creative content adapted to each tribe of application. Among the major applications, the packaging and consumer appliances segment have lucrative opportunities over the forecast period.
In March 2020, the Asia business expansion consultant, DKSH, entered into a distribution agreement with China-based Chengdu Silike Technology Co., Ltd, for its silicone masterbatches in Europe.
Key Topics Covered:
2. Executive Summary
3. Research Methodology
4. Special Effect Masterbatches Market Insights
4.1. Special Effect Masterbatches – Industry Snapshot
4.2. Special Effect Masterbatches Market Dynamics
4.2.1. Drivers and Opportunities
220.127.116.11. Innovations in masterbatches
18.104.22.168. Rapid uptake in varied applications
4.2.2. Restraints and Challenges
22.214.171.124. High raw material cost
4.3. Porter’s Five Forces Analysis
4.4. PESTLE Analysis
4.5. Special Effect Masterbatches Market Industry trends