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In the age of organic, it is said that only plastic will prevail and this literally is true in every sense. Several factors contribute to the rising demand of the plastic as along with being extremely strong, it happens to be very flexible. Many factors drive the growth of the global black masterbatches market. One of them is high demand for latest and attractive products that are manufactured from plastic. As masterbatch happens to be utterly affordable and saves lot of time, majority of polymer makers are switching towards it. Initially polymer producers preferred compounding, but masterbatch truly helps earn a good fortune.
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The COVID-19 pandemic dented the growth of the global black masterbatches market. Courtesy of the lockdown curbs imposed to curtail the spread of the dreadful virus, the demand for many products including plastic materials, automotive spare parts, pipes and fittings fell across the globe.
By using metals, though one can manufacture a strong product but it would definitely weigh on higher side. This not increases production cost but also the cost of logistics, impacting the overall profitability of the business. On the other hand, by using plastic same product can be made within less time and at lower costs. Additionally, it is extremely light weight and hence several industries are turning towards use of plastic. This rampantly drives the growth of the global black masterbatches market.
The rapidly growing global black masterbatches market faces huge hindrance in the form of few factors like availability of low quality and cheaper products. Also, the issue that the plastic products require extra storage space, longer lead time along with threat arising due to exposure to heat aggressively restrains the growth of this market. Despite few hiccups, the global black masterbatches market is forecasted to grow at the fastest rate courtesy of growth witnessed by emerging economies. Several developing countries are a hub of automotive industries. Also increasing demand for carbon black masterbatches in black polyester fibers contribute to this market’s growth.
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Global Black Masterbatches Market Report Findings:
Some of the major players operating in the global black masterbatches market are listed below:
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