Southeast Asia Masterbatch Market The Impact of Technology on the Market: Trends and Predictions for 2023

Based on data provided by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, there was an observed increase in the goods and services deficit during February 2023. The deficit grew by $1.9 billion, reaching $70.5 billion compared to the previous month’s figure of $68.7 billion. This increase can be attributed to a rise in the goods deficit, which expanded by $2.7 billion to reach $93.0 billion, and a smaller increase in the services surplus by $0.8 billion, resulting in a surplus of $22.4 billion.

However, when compared to the same period in 2022, there has been a notable reduction in the goods and services deficit, amounting to $35.5 billion or a 20.3 percent decrease. This improvement can be attributed to a significant increase in exports, which rose by $49.5 billion or 10.8 percent. On the other hand, imports also grew by 2.2 percent, amounting to $14.0 billion more compared to the same period in the previous year. These figures indicate a positive trend in narrowing the trade deficit and a growth in export activities.

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Additionally, companies like Mondel’z International, Tetra Pak, Kraft Heinz Company, and Huy Viet Nam Food Processing Co. are present in Southeast Asia’s established food and beverage processing industry. For packaging purposes, the food and beverage processing industry requires containers of various sizes and shapes. Food packaging container manufacturers like IML Containers Vietnam, Thai Containers Group, Tycoplas, and others have flourished as a result of this. in the area. As a result, the demand for filler and color masterbatch for container manufacturing has supported market expansion over time.

Additionally, it is anticipated that the region’s construction activity will rise in the coming years. In order to boost productivity, improve trade connectivity, and foster economic inclusion within their respective regions, the nations of the region are making significant investments in the development of their infrastructure. For example, in 2022,

Singapore started in excess of five huge development projects Tuas Biomedical Park New Immunization Creation Office, Shaw Office Pinnacle Redevelopment, Shaw Office Pinnacle Redevelopment, and so on. Geo-membranes, Door and Window Components, Potable Water Pipes, Foamed Insulation Boards, Gas Pipes, Roofing, and other components would be in high demand as construction activity in the region increased. The demand for masterbatch from manufacturers would increase further as a result of the requirement for these parts.

Key driver: Market Dynamics Extensive Use of Color and Additive Masterbatch in the Textile Industry The textile industry in the region is expected to flourish over the forecast period as nations like Vietnam, Malaysia, Indonesia, and others, are wanting to grow their homegrown material assembling abilities to meet the rising homegrown and worldwide interest. In addition, global textile manufacturers like Nike, Adidas, Uniqlo, and others have moved production units, from China to Southeast Asian nations like Indonesia, Vietnam, and Cambodia, because garment workers in China are losing their jobs and wages are going up, this would also help the textile industry grow, which would have an impact on the masterbatch industry in the area.

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Possible Limitation: The majority of end users in South-East Asia are switching to renewable products as a result of growing concerns about the ever-increasing levels of carbon emissions. In recent years, there has been an increase in demand for masterbatches that can be composted and biodegrade. However, strict government regulations requiring end-users to adopt sustainable practices and produce biodegradable products have also reduced sales of conventional masterbatches. As a result, it is anticipated that these issues will significantly impede the South-East Asia Masterbatch Market’s growth between 2023 and 2028.

Key Pattern: The ever-expanding food and beverage processing industry is demonstrating a growing trend in the adoption of plastic packages due to its remarkable benefits, such as extended shelf life and ease of use, among others. Flexible packaging techniques like shrink wraps, squeezable tubes, foam trays, pouches, cling wraps, bubble wraps, stand-up packets, and vacuum bags, among others, are seeing a rise in adoption. The coloring of these packaging necessitates masterbatches, which would drive up demand for masterbatches over the forecast period.

Market Segmentation by Product Type, Black and White Color Additives Here, Color masterbatches outperformed their competitors in terms of market share thanks to their growing use in household appliances and textiles. It owes primarily to their astounding qualities, including fire impediment, UV adjustment, optical brilliance, surface resistivity, scratch opposition, and avoidance of warm or oxidative debasement in improving the presentation of polymer materials. Additionally, due to the well-established textile industry in Southeast Asia, which includes Thygesen Textile Vietnam, Akarat Textile Industry, Toray Industries Malaysia, and others, In addition, there has been a rapid rise in the use of additive masterbatches to boost fabric brightness. As a consequence of this, the nations in the region, including Vietnam, Cambodia, Indonesia, Thailand, and so on, are the leading textile exporters.

For instance, Vietnam’s textile exports were worth USD 38.9 billion in 2020, or 5.03 percent of global exports. As a result, the industry is anticipated to expand in the coming years due to the significant presence of textile manufacturers in the region.

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Film extrusion, injection molding, blow molding, roto molding, and other applications (such as pipe extrusion, multifilament, etc.)

In the past, blow molding applications have gained a significant share of the Southeast Asia Masterbatch market. It is primarily due to its widespread use in the automotive industry to increase volume while reducing plastic weight. Over the past few years, the automotive industry in Southeast Asia has skyrocketed, particularly in countries like Thailand, Indonesia, Vietnam, and Malaysia. This is because there is more demand for domestic goods and more people in the region have more money to spend.

One of the primary auto exporters in the region is Thailand, also known as the “Detroit of Asia.” Additionally, the presence of numerous global manufacturers like Ford, Honda, Toyota, and BMW, among others, and local businesses like Almazora Motors, Proton, Esemka, and others, has increased the use of masterbatch in blow molding applications over time.

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