The Middle East Masterbatch Market is expecting around 7.11% CAGR during 2021-26, cites MarkNtel Advisors in their recent research report. The market has experienced rapid growth in recent years, primarily due to the surging demand for plastics & consumer goods that has stimulated the demand for masterbatches across various industries.
Additionally, due to the growing demand for plastics as an alternative to metals in various end-user industries like automotive, packaging, & construction, owing to their better durability, safety, & design, the Middle East Masterbatch Market is experiencing significant growth. Furthermore, color masterbatches are being used increasingly in cables, televisions, computers, & other home appliances to provide them with a better appearance, i.e., another crucial aspect contributing significantly to the overall market growth, further states the research report, “Middle East Masterbatch Market Analysis, 2021.”
With Mounting Use in the Automotive Sector, Blow Molding to Significantly Boost the Market
The growing use of blow molding, especially in the automotive industry, is increasingly using blow molding to allow plastics to be made lighter & larger, owing to which the demand for masterbatches for blow molding applications is projected to witness the fastest growth and drive the Middle East Masterbatch Market in the coming years.
Moreover, another prominent aspect ascribable to the mounting demand for masterbatches for the blow molding application across the Middle East is that it adds brightness & a finished appearance to various elements. Furthermore, advancements in transparency, reduced cycle times, & increased dimensional stability, all of which are highly beneficial for end-products, shall also fuel the overall market growth for blow molding during the forecast period.
Rise in Construction Activities in Saudi Arabia to Drive the Masterbatch Market through 2026
Saudi Arabia holds the largest share in the masterbatch market, primarily due to the rapidly increasing population, leading to numerous ongoing & upcoming industrial & construction activities in the country, i.e., driving the demand for masterbatches. Besides, the Saudi Arabian petroleum industry is one of the largest producers of raw materials, so the availability of raw materials has led to a massive surge in plastic production & consumption. In addition, the increasing production of commercial & passenger vehicles in Saudi Arabia's automotive sector is also contributing to the rapidly expanding masterbatch market.
Furthermore, numerous government initiatives to promote the real estate industry shall further positively affect the masterbatch market in Saudi Arabia over the next few years. The National Industrial Development and Logistics Program (NIDLP) launched by the Saudi government is one of the most important programs to help the country become an industrialized nation, which, in turn, would fuel the overall market growth in the years to come, reveals MarkNtel Advisors in their research report, “Middle East Masterbatch Market Analysis, 2021.”
According to MarkNtel Advisors, the leading players in the Middle East Masterbatch Market are Clariant Masterbatches (India) Ltd., Ingenia Polymers Co. Ltd., LyondellBasell, Ampacet Corporation, Cabot India Ltd., Alok Masterbatches Pvt Ltd, Poddar Pigments Limited, Plastiblends India Limited, Blend Colors Pvt. Ltd., and Orbit Masterbatches Pvt. Ltd.
Key Questions Answered in the Research Report: