Color Concentrate Market is segmented By Form (Solid, Liquid), By Carrier (Polyethylene (LDPE, LLDPE, HDPE, Others), Polypropylene, Polycarbonate, Polystyrene, EVA, ABS, Others), By End-User (Packaging (Food and Beverage, Cosmetic, Pharmaceutical, and Medical Devices, Consumer Goods, Others), By Building and Construction (Residential, Commercial, Industrial, Infrastructure), By Consumer Goods (Electronic Goods, Furniture, Sports & Leisure, Others), Automotives (Exterior, Interior), Healthcare, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Color Concentrate Market Overview
Color Concentrate Market is expected to grow at a CAGR 5.74% during the forecasting period (2024-2031). Color Concentrate is the necessary chemicals used to achieve the target color by compounding at a higher concentration into a carrier resin that shows similar chemical formula or has the maximum compatibility with the end used polymeric resin. Asia-Pacific region is dominating the global color concentrated market accounted for the largest market share since the past few years and becoming the world's largest consumer of plastic color concentrate market. Competitive rivalry intensifies Clariant, PolyOne Corporation, Ampacet Corporation and others operating in the market.
The major components used to yield color concentrates are the composition and molecular weight of the carrier resin.
The color concentrates are used at the prescribed let-down ratio (LDR) and, in the next step, mixed with a polymer base that is to be processed into the consumer’s finished product. The color concentrate is used in plastic polymers to impart plastic and is used in solid and additive masterbatches. These are also used in liquid forms and are added accurately in the manufacturing of plastic products.
The color concentrates offer lucrative advantages such as better storage quality, significant performance, cleanliness, and user-friendliness offer various market driving advantages over pre-colored resins and raw pigmentation or liquid color on several plastic applications. The color concentrates provide a wide application range to the packaging sector by imparting different colors to bottles, bags, cups, cosmetic tubes, etc., and offer an attractive look to the product.
Color Concentrate Market Summary
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Metrics |
Details |
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Market CAGR |
5.74% |
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Segments Covered |
By Form, By Carrier, By End-User, By Building and Construction, By Consumer Goods, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
North America |
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Largest Market Share |
Asia Pacific |
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Color Concentrate Market Dynamics
The global color concentrate market is driven by expanding plastic usage as they offer superior properties compared to its competitors. The rising demand for color concentrates on the end-user industry such as packaging, consumer goods, agriculture, and others contributing to the global market of the color concentrates.
Expanding usage of plastic to give an aesthetic look to the product and rising demand for packaged food in recent times
The market is driven by unprecedented growth in plastic usage, and its application in various sectors has uplifted the color concentrate market in recent times. As per the article published in Our World Data 2018, over 65 years annual global plastic production increased nearly 200 fold to 381 million tonnes in 2015, which is almost equal to the mass of two-third of the world's population. These escalating numbers create opportunities for the color concentrates market, as these materials offer superior characteristics, chemical resistance, and excellent heat resistance and can easily mingle with plastic.
For instance, on 31st January, Chroma Color Corporation acquires Plastic Color Corporation, one of the consistent firms, in delivering innovative products and their presence in food packing, medical and pharmaceutical products, and construction application products into the market faster at an affordable rate.
The growing demand for color concentrate in end-user industries
The color concentrate market has seen high growth in the last few years. The growth is projected to continue in the forecast period due to increasing demand for color concentrates in several end-user industries such as packaging, building & construction, consumer goods, automobiles, and other industries. The rising demand for packaged food has also uplifted the demand for color concentrates in the packaging industry. The prime reason behind the packaging industry's significant growth is due to increased demand for color concentration for color plastics used for lightweight packaging.
For instance, in September 2020, Avient Corporation featured MEVOPUR. A polymer colourant solution used to protect oxygen scavengers from Avient extends shelf life, specially designed for pet pharma packaging and other healthcare applications.
The growing application of color concentrates in the automotive segment for electric vehicle manufacturing is creating lucrative opportunities for the color concentrate market.
The automotive segment is expected to drive the color concentrate market faster in the conjecture timespan. The arrival of electric vehicles has created immense opportunities for the color concentrate market to increase shortly. Electric vehicles are composed of plastics and composites. However, metal can be replaced by plastic components by various manufactures to lower down the cost of production and, on the other side, augment the use of colour concentrates in vehicles. Apart from this, plastic colourants have shown various automotive bag applications and hood applications due to excellent thermal and wear resistance.
In March 2016, PolyOne corporation came up with a new OnFlex LO thermoplastic elastomer at the VDI Plastics in Automotive Engineering Conference. The product is designed to improve driver and passenger safety and comfort. Its latest TPE technology can reduce volatile organic components by nearly 50 % and minimize fogging and odour in automotive components' interiors.
COVID-19 Impact Analysis on Color Concentrate Market
The global color concentration has shown a slight decline due to the COVID-19 pandemic, as several manufacturing plants were shut for months. Further several countries have restricted production activities during the covid-19 pandemic. The major lockdown due to the COVID-19 outbreak leads to suddenly dropping down consumers' interest towards purchasing any goods, and halt in transportation sectors has severely hampered the business of colour concentrate market due to disruption in the product's supply chain management.
The majority of businesses are shut down, and operations across several end-users of color concentrate products such as packaging and plastic industries are also compromised, thus dropping the product's global demand in 2020.
Color Concentrate Market Segmentation Analysis
The global color concentrate market is segmented on form, carrier, end-user, and region.
Rising demand from packaging industries has uplifted the market of color concentrate market.
In terms of end-user, the global color concentrate market is bifurcated into packaging, building and construction, consumer goods, automotive, healthcare, etc. Out of the mentioned end-users, the packaging segment holds the highest share of color concentration in recent times and is expected to maintain the forecast period's momentum.
The growing business of color concentrates in the packaging sector is majorly driven by the increasing demand for colored plastics in lightweight packaging. Also, colour concentrates are considered the most durable and cost-effective colourant for different packaging applications. The color concentrates cover a more comprehensive application range from food & beverage packaging to good consumer packaging and healthcare & pharmaceutical packaging.
For instance, in May 2017, PolyOne announced the Asia launch of its new Impress High Gloss Metallic Effect Colorant at Chinaplas. The product is available in solid and liquid form and is used to enhance manufacturers' blow-molded PET rigid packaging coupled with an ultra-glossy metallic effect.
Color Concentrate Market Geographical Share
Rising demand from various end-users, the presence of economically developed countries, and leading producers of plastic are more likely to accelerate the market of color contrite in the Asia-Pacific region.
Asia-Pacific region is dominating the global color concentrated market accounted for the largest market share since the past few years and becoming the world's largest consumer of plastic color concentrate market with China being the topmost position. As compared to 2017, with 30% of the world's supply of plastics, China maintained its leading position in current times with double its original amount of plastic.
On the other side, India holds the world's largest plastic industry, with market size of INR 1.8 trillion. The country also produces and exports a wide range of raw materials, polyester films, consumer goods, packaging, surgical/medical instruments, etc. These growing industries are responsible for creating a huge demand for color concentrate in the coming years. Increasing demand from end-users such as packaging, consumer goods, automotive, construction & building among different Asia-Pacific region countries boosts the color concentrate market. The growth is more likely to witness in the forecast period.
North America is expected to grow at the fastest rate in the aforementioned timespan due to brand promotion activities, continuous technological advancement, and an environment conducive to developing products with enhanced properties.
Color Concentrate Market Companies and Competitive Landscape
The color concentrate market is highly competitive with the presence of local as well as global companies. Some of the key players contributing to the market's growth include Clariant, PolyOne Corporation, Ampacet Corporation, Penn Color, Inc., A. Schulman, Inc, Colortech Inc, Cobot Corporation, BASF SE, Primex Colour, Alok Masterbatches Limited and others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the color concentrate market globally.
- For instance, in 2019, Ampacet launched a new product in their masterbatch portfolio named blue edge 226. The product is designed to improve post-consumer resin plastics' performance by enhancing the brightness of the plastic film
- In December 2020, Clariant came up with its latest New freedom Decorative Color Trends 2021 for fulfilling the need for creative colors to capture the customer's imagination.
Cabot Corporation
Overview: The company is the leading global speciality chemicals and performance material company based in Boston (U.S). The company offers various industries such as infrastructure, transportation, consumer, and the environment. The company aims to offer sustainable business practices to ensure the safety of its employees and consumers.
Product Portfolio: The company has a product portfolio of color concentrate includes:
- CAB-O-JET: The product is based on a unique and proprietary stabilization technique that offers excellent print performance, durability, flexibility, and stability for the inkjet ink developer and making it to be the first choice with higher performance and ease to use.
Key Development
- On 16th November 2020, Cabot launched its new Plasblak XP6801D black masterbatch formulation, a solution that covers the gap between color and mechanical properties. It offers excellent color performance, mechanical properties, and UV resistance.
