Market Size of Mexico Masterbatch Industry
| 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.
