Canada Masterbatch Market is
expected to grow impressively through 2028 due to the increasing demand from
packaging industry. In 2020, the market value of food
packaging in North America reached a total of over USD89 billion.
Masterbatch is a material
used in the plastic industry to add color, pigments, or other additives to
plastics during the manufacturing process. It is a concentrated mixture of pigments
or additives that is added to the base resin or polymer during the production
of plastic products. Masterbatch is designed to be used in a variety of plastic
manufacturing processes, including extrusion, injection molding, and blow
molding. Masterbatch manufacturing process involves combining the desired
pigments or additives with a carrier resin that is compatible with the plastic
resin used in the final product. The carrier resin is usually a
low-melting-point polymer, such as polyethylene, polypropylene, or polystyrene,
that melts at a lower temperature than the final product resin.
One of the main advantages of
using masterbatch is that it allows plastic manufacturers to easily add color
or other additives to their products without having to invest in expensive
equipment or additional processing steps. Masterbatch can be added to the base
resin during the extrusion or molding process, which results in a uniform
distribution of color or additives throughout the final product.
Canadian masterbatch market
is a significant and growing industry within the broader plastics manufacturing
sector. Masterbatch is a concentrated mixture of pigments or additives that is
added to the base resin or polymer during the production of plastic products.
The use of masterbatch allows plastic manufacturers to add color, UV
stabilization, flame retardancy, or other functional additives to their
products in a cost-effective and efficient manner.
In Canada, the demand for
masterbatch is primarily driven by the packaging industry. The country has a
well-established food and beverage industry, which is the largest user of
plastic packaging. The growth of the e-commerce industry has further fueled the
demand for plastic packaging in Canada. As a result, the packaging industry is expected
to be the fastest-growing end-use segment for masterbatch in Canada.
Building & Construction
industry is another significant user of masterbatch in Canada. Masterbatch is
used in the production of plastic pipes, cables, and other construction
materials. The Canadian government's investment in infrastructure development
and the growing demand for sustainable building materials are expected to drive
the growth of the construction industry, which in turn will boost the demand
for masterbatch.
Canadian masterbatch market
is shifting towards sustainable and eco-friendly products. Many companies in
the masterbatch industry are developing sustainable products, such as bio-based
masterbatch and recycled-content masterbatch, to meet the growing demand for
eco-friendly products.
Canadian masterbatch market
is a growing and dynamic industry that is driven by the demand for plastic
products in various sectors. The packaging and construction industries are the
largest end-users of masterbatch in Canada. With the increasing demand for
sustainable and eco-friendly products, the Canadian masterbatch industry is
expected to experience significant growth in the coming years.
Growing Demand from Various
End User Industries is Driving Market Growth
Packaging industry is the
largest end-user of masterbatch in Canada. The country has a well-established
food and beverage industry, which is the largest user of plastic packaging. The
growth of the e-commerce industry has further fueled the demand for plastic
packaging in Canada. As a result, the packaging industry is expected to be the
fastest-growing end-user segment for masterbatch in Canada.
The building & construction
industry is another significant user of masterbatch in Canada. Masterbatch is
used in the production of plastic pipes, cables, and other construction
materials. The Canadian government's investment in infrastructure development
and the growing demand for sustainable building materials are expected to drive
the growth of the construction industry, which in turn will boost the demand
for masterbatch.
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Technological Advancements
and Government Initiatives are Driving Market Growth
Masterbatch industry in
Canada is witnessing technological advancements in terms of the development of
sustainable and eco-friendly products. Many companies in the masterbatch
industry are developing sustainable products, such as bio-based masterbatch and
recycled-content masterbatch, to meet the growing demand for eco-friendly
products. These sustainable products are gaining popularity among consumers and
are expected to drive the growth of the masterbatch market in Canada.
Canadian government has implemented
several regulations and initiatives to promote sustainable development, such as
the Canada Plastics Pact, which aims to eliminate unnecessary plastic waste by
2025. The government's initiatives are driving the adoption of sustainable
products, such as bio-based and recycled-content masterbatch, which are expected
to drive the growth of the masterbatch market in Canada.
Automotive industry is another
significant user of plastics and, hence, masterbatch in Canada. Plastics are
increasingly being used in the automotive industry to reduce weight, improve
fuel efficiency, and enhance the safety of automobile. Masterbatch is used in
the production of various plastic components, such as dashboards, door panels,
and bumpers, in the automotive industry. The growing demand for lightweight
vehicles and the increasing use of plastics in the automotive industry are
expected to boost the demand for masterbatch in Canada.
Major Challenges faced by Canada Masterbatch
Market
The prices of raw materials
used in the production of masterbatch, such as resins and additives, are
subject to frequent fluctuations. The volatility in raw material prices affects
the profitability of the masterbatch manufacturers, making it difficult for
them to maintain a stable pricing strategy. In addition, the supply of raw materials
may be affected by geopolitical tensions or natural disasters, leading to
supply chain disruptions and increased costs.
Canadian government has
implemented stringent regulations related to the production and use of
plastics, such as the Canada Plastics Pact, which aims to eliminate unnecessary
plastic waste by 2025. The regulations are aimed at promoting sustainable
development, but they also increase the compliance costs for masterbatch manufacturers. Compliance with
regulations such as REACH and RoHS also adds to the costs and complexities of
the masterbatch production process.
Canada masterbatch market
faces stiff competition from low-cost countries such as China and India. These
countries have a cost advantage due to the availability of cheap labor and raw
materials, allowing them to offer masterbatch products at lower prices. The competition
from these countries has led to pricing pressures for Canadian masterbatch
manufacturers, affecting their profitability.
Masterbatch industry is a
part of the larger plastics industry, which is facing increased scrutiny due to
its impact on the environment. The use of plastics has led to issues such as
plastic pollution and marine litter, which have gained global attention. The
negative impact of plastics on the environment has led to increased demand for
sustainable products, such as bio-based and recycled-content masterbatch. Masterbatch
manufacturers need to invest in research and development to develop sustainable
products that meet the growing demand for eco-friendly products.
Recent Trends and Developments
- The demand for
sustainable products has been growing in the masterbatch market, driven by
increasing environmental concerns and government initiatives to promote
sustainable development. In response to this trend, several masterbatch
manufacturers in Canada have started offering bio-based and recycled-content
masterbatch products. For instance, in 2019, Ampacet Corporation, a leading
masterbatch manufacturer, launched a range of bio-based masterbatch products made from renewable raw materials in Canada.
- Canada
masterbatch market has witnessed significant technological advancements in the
last three years, aimed at improving the efficiency and sustainability of the
masterbatch production process. For instance, in 2020, Clariant, a global
leader in masterbatch, launched a new generation of laser-marking additives for
polyethylene and polypropylene, which enable high-speed marking without compromising
on product quality. Laser-marking additives are also compatible with recycling
processes, making them suitable for sustainable applications.
Market Segmentation
Canada Masterbatch Market is
segmented based on Type, Polymer, Application, End
User Industry, Region and Competitive Landscape. Based on Type, the market is categorized
into White, Black, Additive, Color, Others. Based
on Polymer, the market is divided into PP, LDPE/LLDPE, HDPE, PVC, PET, Others.
Based on Application, the market is segmented into Film Extrusion, Injection
Molding, Blow Molding, Roto molding, Others. Based on End User Industry, the
market is further divided into Packaging, Building & Construction, Consumer
Goods, Automotive, Textile, Others. Based
on region, the market is divided into Quebec, Ontario, Alberta, British
Columbia, Saskatchewan & Manitoba, Rest of Canada.
Market Players
Americhem, RTP
Company, Plastiblends Canada Inc, Ampacet Canada, PolyOne Canada, A. Schulman
Canada, Clariant Canada Inc., Cabot Canada Ltd, Ampco Manufacturers Inc, Promix
Solutions Inc are some of the key players of the Canada Masterbatch
Market.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated
Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative
Units
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Revenue
in USD Million and CAGR for 2018-2022 and 2023-2028
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|
Report
coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments covered
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Type
Polymer
Application
End User Industry
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Regional
scope
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Quebec,
Ontario, Alberta, British Columbia, Saskatchewan and Manitoba
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Key companies
profiled
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Americhem, RTP Company, Plastiblends Canada
Inc, Ampacet Canada, PolyOne Canada, A. Schulman Canada, Clariant Canada Inc.,
Cabot Canada Ltd, Ampco Manufacturers Inc, Promix Solutions Inc
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|
Customization
scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and
purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase
options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable version
of the report in PPT/Word format on special request)
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Report Scope:
In this report, Canada Masterbatch market has been segmented
into the following categories, in addition to the industry trends, which have also
been detailed below:
- Canada Masterbatch Market, By Type:
- White
- Black
- Additive
- Color
- Others
- Canada Masterbatch Market, By Polymer:
- PP
- LDPE/LLDPE
- HDPE
- PVC
- PET
- Others
- Canada Masterbatch Market, By Application:
- Film Extrusion
- Injection Molding
- Blow Molding
- Roto Molding
- Others
- Canada Masterbatch Market, By End User Industry:
- Packaging
- Building & Construction
- Consumer Goods
- Automotive
- Textile
- Others
- Canada Masterbatch Market, By Region:
- Quebec
- Ontario
- Alberta
- British Columbia
- Saskatchewan & Manitoba
- Rest of Canada
Competitive landscape
Company Profiles: Detailed analysis of the major companies present
in Canada Masterbatch market.
Available Customizations:
With the given market data, TechSci Research offers customizations
according to a company’s specific needs. The following customization options
are available for the report:
Company Information
- Detailed analysis and profiling of additional market players
(up to five).
Canada Masterbatch Market is an upcoming
report to be released soon. If you wish an early delivery of this report or want
to confirm the date of release, please contact us at [email protected]