Vietnam Masterbatch Market to be Dominated by Automotive Segment Through 2028
Increasing demand for
packaging material and growing demand from automobiles sector are factors that
drives the demand for the Masterbatch market in the forecast period, 2024-2028.
According to TechSci Research report, “Vietnam Masterbatch Market - By Region, Competition
Forecast and Opportunities, 2018-2028", The Vietnam Masterbatch Market is anticipated
to increase at an impressive rate in the forecast period, 2024-2028. Precisely,
a masterbatch is a solution to dye or other essential properties of plastic or
recycling commodities. It is used in the blending of additives and pigment to
combine into a carrier resin. Due to its different properties, it is used to
retain the losing characteristics of recycled plastic and enhance the color of
the resin to get the desired color. The need for proper storage places and not
proper blending in a screw while injecting molding are factors restraining the
Masterbatch market.
Apart from this growing
demand from different end-user, such as automotive for manufacturing of various
parts like bumpers, dashboards, side trims, locks, car batteries, headlamps,
and wire, and in consumer goods, it is used for making packing material of
food, beverages, apparels, electronics are propelling the Masterbatch market.
Moreover, increased per capita income, rising construction activities, and
technological development are the major factors responsible for market growth.
Thus, the abovementioned factors will drive market development and directly
impact Vietnam's masterbatch market growth.
Browse over
XX market data Figures spread through XX Pages and an in-depth TOC on "Vietnam Masterbatch Market."
Vietnam masterbatch
market is segmented based on type, polymer, application, and end user industry.
Based on type, the
market is divided into white, black, additive, color, and others. The color
segment is expected to hold the largest market share in the projected year.
Owing to the growing demand from automotive, electronic appliances, and
flexible packaging solutions for the food, beverages, and medicines sector for
aesthetic appearance. It provides vast color options from common to specialty
colors such as fluorescent, pearlescent, metallic, and glow-in-the-dark. Thus,
the color segment holds the largest market share and is expected to grow with
the highest market share in the forecasted period.
Based on application,
the market is divided into film extrusion, injection molding, blow molding,
roto molding, and others. As per estimates, the injection molding segment is
going to experience the highest market share during the forecast period. The
large size of the application, which is demanded by end-user, is made from the
injection molding technique, which led to the increase in the demand for
injection molding applications.
Based on end-user
industries, the market is divided into packaging, building & construction,
consumer goods, automotive, textile, and others. As per estimates, the
automotive segment is going to experience the highest market share during the
forecast period. In order to lessen the weight of the vehicle, a different part
of the automobile is replaced with plastic material. It helps the manufacturer
to improve fuel efficiency and the easiness of molding in different shapes. All
these factors led to an increase in the demand from the automotive segment and
dominated the market.
Major companies operating in Vietnam masterbatch
market are:
- Masterbatch (Viet Nam) Pty. Ltd
- TLD Vietnam
- Tan Hung Co Manufacturing and Trading Company
Limited.
- Vinares Vietnam Joint Stock Company
- Dai A Plastic Industries
- CPI Vietnam Plastic Limited Company
- US Masterbatch JSC
- Sunrise Colours Vietnam Co., Ltd.
- Vietnam Colour Trading And Manufacturing Co.,
Ltd.
- Vietnam Hanotech Joint Stock Company
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" The primary reason for Vietnam's Masterbatch market is the
growing demand for increasing demand for packaging material and the growing
demand from the automobile sector. Government initiatives and policies like Law
on Housing 2014, Decision 687, the national action plan focusing on 3R or
circular sustainable development, and FDI drive the demand for masterbatch to
attain the zero-carbon emission target. Growing textile industries led to an
increase in the demand for the masterbatch market. Additionally, growing
construction activities for insulation materials, floorings, performance safety
windows, storage tanks, pipes, doors, and cables led to the demand for
masterbatch in the Vietnam market. All the above factors are projected to
impact Vietnam's masterbatch market growth until 2028." said Mr. Karan Chechi,
Research Director with TechSci research, a research based global management
consulting firm.
“Vietnam Masterbatch Market By Type (White, Black, Additive, Color,
Others), By Polymer (PP, LDPE/LLDPE, HDPE, PVC, PET, Others), By Application
(Film Extrusion, Injection Molding, Blow Molding, Roto molding, Others), By End
User Industry (Packaging, Building & Construction, Consumer Goods,
Automotive, Textile, Others), By
Region, Competition, Forecast and Opportunities, 2028 has evaluated the future growth
potential of Vietnam masterbatch Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Vietnam masterbatch market.
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