Vietnam Filler Masterbatch Market to be Dominated by Polypropylene Segment Through 2028
Rising demand from end user
such as packaging, building & construction, consumer goods, automotive
& transportation, and agriculture are propelling demand for the Vietnam Filler
Masterbatch market in the forecast period 2024-2028.
According to TechSci Research report, “Vietnam Filler Masterbatch Market - By Region, Competition Forecast and
Opportunities, 2018-2028F", The Vietnam Filler Masterbatch market is anticipated to
increase at an impressive rate in the forecast period 2024-2028. Filler Masterbatch
is employed to impart color and strengthen the properties of plastic.
Masterbatch helps plastics improve physical properties such as toughness,
flexural stiffness, adhesion, printability, etc. Specifically, a masterbatch is
a less Volatile Organic Compounds (VOC) alternative to dye or another colorant
to enhance the essential properties of plastic or recycling commodities. Firms
use different filler masterbatches in the polymer product to provide additional
characteristics like tensile strength, toughness, heat resistance, color, and
clarity while producing and manufacturing desired products. For instance, PE
filler masterbatch is a more demanded masterbatch in the packaging industry.
The perfectly optimizing flow properties
allowing easy processing have significantly increased the use of filler
masterbatches across various end user industries such as consumer goods,
packaging, automotive, construction, agriculture, among others. This in turn is
expected to drive the growth of Vietnam filler masterbatch market through 2028.
Filler masterbatches help in improving the processing of plastic products. It
also helps in modifying the properties of plastic products while optimizing the
overall costs.
Besides, the increasing environmental
concerns regarding pollution and fossil fuel conservation have brought a shift
towards electric vehicles. This has in turn made the major automotive
manufacturers shift towards electric vehicles manufacturing, thereby creating
new prospects for the growth of filler masterbatch market across Vietnam in the
coming years.
The availability of cheaper substitutes
and stringent environmental regulations over VOC is a primary restraint on
market growth. e. Fluctuation in demand for dyes or paints and substitutes of
plastic will directly impact the market's growth. The filler masterbatch is
made after undergoing various processing from crude oil. Hence, fluctuation in
the crude oil price and supply chain disturbance is expected to hinder the
demand. In addition, the proper temperature must be maintained while storing
the filler masterbatch and keeping them active during operation. All the
mentioned factors restrain the demand for the filler masterbatch market in
Vietnam.
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Vietnam Filler
Masterbatch market is segmented based on carrier polymer, application, end
user, and region.
Based on application, the market is
divided into injection & blow molding, films & sheets, and tapes. The
injection & blow molding segment is expected to hold the largest market
share in the projected year. Owing to the rising demand and production of
different products like toilet lids, buckets, baskets, toothbrushes, plastic
toys, rice cooker lids, and other applications, injection & blow molding
can produce products using filler masterbatch effectively without more wastage
and increase product printability.
Based on end users, the market is
divided into packaging, building & construction, consumer goods, automotive
& transportation, agriculture, and others. The packaging segment is
expected to hold the largest market share in the projected year. This can be
attributed to the growing demand for packaging from various end user industries
including building & construction, consumer goods, automotive &
transportation, and agriculture, among others, thereby propelling the segmental
growth.
Major companies operating in Vietnam filler
masterbatch market are:
- Europlast S.A.
- Megaplast, S.A. De C.V.
- AN TIEN INDUSTRIES
- VinaColour
- Polyfill LLC
- VINARES Vietnam Company Limited
- Ecoplast Ltd.
- TLD Vietnam
Firms around the world are showing
interest in investing and acquiring local firms in Vietnam. For instance,
MeiwaPax Group, a Japanese firm, spent US$16.5 million to acquire the Saigon
Trading and Packaging Joint Stock Company in Vietnam to expand its customer
base. Another firm, Thailand’s Siam Cement Group, has now become the major
investor by acquiring 51.1 percent shares of the Binh Minh Plastics Company,
which is a leading firm in Vietnam’s plastics industry.
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“Various Government initiatives for
developing the construction sector, policies such as Law on Housing 2014,
Decision 687, the national action plan focusing on 3R or circular sustainable
development, and FDI are factors that propel the market growth. 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, among others. Additionally, in the consumer goods industry, filler masterbatch is used for making packing
material of food, beverages, apparels, electronics are influencing the market
growth. All the above-mentioned factors are projected to impact Vietnam's filler
masterbatch market growth until 2028." said Mr. Karan Chechi, Research Director
with TechSci research, a research based global management consulting firm.
“Vietnam Filler Masterbatch Market By Carrier
Polymer (Polyethylene and Polypropylene), By Application (Injection & Blow
Molding, Films & Sheets, Tapes), By End User (Packaging, Building &
Construction, Consumer Goods, Automotive & Transportation, Agriculture, and
Others), By Region, Competition Forecast and Opportunities, 2028F” has evaluated the future growth
potential of Vietnam filler 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 filler masterbatch market.
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