Mexico Masterbatch Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Mexico Masterbatch Market Analysis
The Mexico Masterbatch Market size is estimated at 103.95 kilotons in 2024, and is expected to reach 119.78 kilotons by 2029, growing at a CAGR of less than 3% during the forecast period (2024-2029).
The market was negatively impacted by the COVID-19 pandemic in 2020. The outbreak in the first half of 2020 substantially impacted numerous end-user industries, including automotive, transportation, and building and construction. However, by 2021, the situation stabilized, and the market is expected to rise healthily in the current year.
- Over the short term, increasing demand for plastic in the automotive industry due to its ability to reduce weight and space requirements while simultaneously boosting fuel efficiency are some factors stimulating market demand.
- On the other hand, fluctuations in raw material prices, such as polymers, titanium oxide, and calcium carbonate, could hinder the market's growth.
- The rising demand for bio-based masterbatch will likely create opportunities for the market in the coming years.
Mexico Masterbatch Market Trends
Growing Demand from the Packaging Segment is Driving the Market
- In the packaging industry, producers are increasingly turning to masterbatches to cut production costs and enhance productivity. These masterbatches come in two primary forms: filler masterbatch and color masterbatch.
- The filler masterbatch acts as a resin substitute, reducing material costs and enhancing production efficiency due to its added additives.
- On the other hand, the color masterbatch serves as a pigment substitute, allowing producers to achieve precise color shades for their packaging products. Beyond color accuracy, the color masterbatch also contributes to a more streamlined production process.
- The Mexican packaging market is very dynamic owing to its huge manufacturing base. It has been reflecting the changes that the country's industrial sectors have witnessed.
- As per industry data, in 2023, the packaging industry in Mexico was characterized by its significant use in the food industry, accounting for a more than 37% share in terms of size. In the country’s food industry, flexible packaging is the most widely used pack material, followed by rigid plastics.
- In June 2023, Smurfit Kappa, a packaging manufacturer, invested USD 12 million in the Tijuana plant to increase the production of sustainable packaging and focus on technological advancements within the plant.
- In April 2023, Envases Universales, a prominent packaging manufacturer, announced the expansion of its PET container recycling facility in Central Mexico from an annual capacity of 60,000 tons to 100,000 tons.
- In October 2023, Coca-Cola announced an investment of USD 133 million to expand the juice and dairy production and packaging segment in Mexico via the soft drinks giant’s local subsidiary, Jugos del Valle-Santa Clara.
- Growing packaging activities like these in Mexico are driving the demand for masterbatches that improve the functional properties of packaging materials in the country.
Growing Demand for Lighter-weight and More Fuel-efficient Vehicles Driving the Market
- Masterbatches enhance car components and materials in the automotive industry. These additives improve the performance, functionality, and aesthetics of plastics and coatings in parts like bumpers, mirrors, dashboards, and door panels. UV stabilizer masterbatches prevent fading and cracking, while flame-retardant masterbatches enhance safety.
- Additive masterbatches improve lightweight plastic components with features like scratch resistance, impact modification, and anti-fogging. This results in components with high mechanical strength and chemical resistance. As the industry shifts toward electrification, the demand for high-performance materials rises, with masterbatches playing a key role.
- Mexico ranks as the world's seventh-largest manufacturer of passenger vehicles, churning out 3.5 million vehicles each year. A staggering 88% of these vehicles find their way to international markets, with 76% heading straight to the United States.
- Boasting a localized automotive supply chain, Mexico stands as the world’s fourth-largest auto parts producer and the top supplier to the United States.
- The Mexican Automotive Industry Association (AMIA) projects that, fueled by escalating investments, Mexico is on track to become the world’s fifth-largest vehicle producer by 2025.
- With its strategic location, business-friendly environment, and skilled workforce, Mexico has emerged as a prime hub for automotive companies. As the global appetite for non-emission vehicles grows, foreign direct investments, particularly in electric vehicle manufacturing, are surging from nations like China, Germany, and the United States. This uptick in investments is simultaneously driving the demand for coatings in electric vehicles.
- In February 2024, BYD Co. Ltd, a Chinese manufacturer, announced that it was planning to set up a new electric vehicle (EV) factory in Mexico, with the aim of establishing it as an export hub to the United States.
- In February 2024, Volkswagen Mexico announced that it plans to invest around USD 1 billion in an electromobility hub at its Puebla plant.
- In January 2024, MAHLE, a German automotive manufacturer, announced the opening of Plant 3, which was made possible by an investment of around USD 70.1 million in Ramos Arizpe, Coahuila.
- Thus, the aforementioned factors are expected to augment the growth of the Mexican masterbatch market during the forecast period.
Mexico Masterbatch Industry Overview
The Mexican masterbatch market is partially consolidated in nature. The major players (not in any particular order) include LyondellBasell Industries Holdings BV, TOYO INK CO. LTD (Artience Group), Chroma Color Corporation, Sun Chemical, and Ampacet Corporation.
Mexico Masterbatch Market Leaders
-
LyondellBasell Industries Holdings B.V.
-
TOYO INK CO., LTD.
-
Chroma Color Corporation
-
Sun Chemical
-
Ampacet Corporation
*Disclaimer: Major Players sorted in no particular order
Mexico Masterbatch Market News
- May 2024: Ampacet expanded its ELTech portfolio, introducing a series of high-performance color masterbatches. These masterbatches utilize a polybutylene terephthalate (PBT) carrier resin and are specifically tailored for optical fiber cable PBT jacketing. The new product development is projected to benefit the company in establishing a stronger market position.
- May 2024: Cabot Corporation launched its REPLASBLAK universal circular black masterbatches crafted from certified sustainable materials. This launch marked the introduction of two pioneering products, poised to be the industry's inaugural universal circular black masterbatches boasting content certified by the International Sustainability & Carbon Certification (ISCC PLUS).
Mexico Masterbatch Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Growing Demand from the Packaging Industry
- 4.1.2 Growing Demand for Lighter-weight and More Fuel-efficient Vehicles
-
4.2 Restraints
- 4.2.1 Challenges and Inconsistencies in Color Masterbatch Applications
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Type
- 5.1.1 White Masterbatch
- 5.1.2 Black Masterbatch
- 5.1.3 Color Masterbatch
- 5.1.4 Additive Masterbatch
- 5.1.5 Special Effect Masterbatch
-
5.2 Polymer
- 5.2.1 Polypropylene
- 5.2.2 Polyethylene
- 5.2.3 High-impact Polystyrene
- 5.2.4 Polyvinyl Chloride
- 5.2.5 Polyethylene Terephthalate
- 5.2.6 Other Polymers
-
5.3 End-user Industry
- 5.3.1 Building and Construction
- 5.3.2 Packaging
- 5.3.3 Automotive and Transportation
- 5.3.4 Electrical and Electronics
- 5.3.5 Consumer Goods
- 5.3.6 Agriculture
- 5.3.7 Other End-user Industries
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 Agama-Pigments & Masterbatch
- 6.4.2 Ampacet Corporation
- 6.4.3 Avient Corporation
- 6.4.4 BASF SE
- 6.4.5 Cabot Corporation
- 6.4.6 Chroma Color Corporation
- 6.4.7 Hubron International
- 6.4.8 LyondellBasell Industries Holdings BV
- 6.4.9 Sun Chemical
- 6.4.10 TOYO INK CO. LTD
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Traction for Biodegradable Masterbatches
Mexico Masterbatch Industry Segmentation
Masterbatch (MB) is a solid plastic additive used to color polymers or give them other qualities. It is a concentrated mixture of pigments and/or additives contained in a carrier resin, which is then cooled and chopped into a granular shape using a heat process.
The Mexican masterbatch market is segmented by type, polymer, and end-user industry. By type, the market is segmented into white masterbatch, black masterbatch, color masterbatch, additive masterbatch, and special effect masterbatch. By polymer, the market is segmented into polypropylene, polyethylene, high-impact polystyrene, polyvinyl chloride, polyethylene terephthalate, and other polymers. By end-user industry, the market is segmented into building and construction, packaging, automotive and transportation, electrical and electronics, consumer goods, agriculture, and other end-user industries. For each segment, the market sizing and forecasts have been done on the basis of value (USD) and volume (kilotons).
| Type | White Masterbatch |
| Black Masterbatch | |
| Color Masterbatch | |
| Additive Masterbatch | |
| Special Effect Masterbatch | |
| Polymer | Polypropylene |
| Polyethylene | |
| High-impact Polystyrene | |
| Polyvinyl Chloride | |
| Polyethylene Terephthalate | |
| Other Polymers | |
| End-user Industry | Building and Construction |
| Packaging | |
| Automotive and Transportation | |
| Electrical and Electronics | |
| Consumer Goods | |
| Agriculture | |
| Other End-user Industries |
Mexico Masterbatch Market Research FAQs
How big is the Mexico Masterbatch Market?
The Mexico Masterbatch Market size is expected to reach 103.95 kilotons in 2024 and grow at a CAGR of less than 3% to reach 119.78 kilotons by 2029.
What is the current Mexico Masterbatch Market size?
In 2024, the Mexico Masterbatch Market size is expected to reach 103.95 kilotons.
Who are the key players in Mexico Masterbatch Market?
LyondellBasell Industries Holdings B.V., TOYO INK CO., LTD., Chroma Color Corporation, Sun Chemical and Ampacet Corporation are the major companies operating in the Mexico Masterbatch Market.
What years does this Mexico Masterbatch Market cover, and what was the market size in 2023?
In 2023, the Mexico Masterbatch Market size was estimated at 100.83 kilotons. The report covers the Mexico Masterbatch Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Masterbatch Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Masterbatch Industry Report
Statistics for the 2024 Mexico Masterbatch market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Masterbatch analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
