The Oman Masterbatch Market is projected to grow at a CAGR of 16.4% in the forecast period of 2023-28, cites MarkNtel Advisors in their recent research report. The market is primarily propelled by the widespread use of masterbatches in cables, wires, and electronic devices, including televisions, computers, and other home appliances. The second significant reason anticipated to accelerate the market is the growing demand for consumer goods with an improved look, including kitchenware, footwear, toys, household items, etc., achieved by color masterbatches.
Besides, the rapidly expanding industrialization, building, and packaging sectors, coupled with significant improvements in the automobile sector, are to be blamed for the envisioned expansion. Masterbatch has quickly replaced metals in vehicle manufacturing due to its superior sustainability, safety, and design. It is why the masterbatches are likely to gain traction in the coming years. Additionally, the masterbatch market in Oman appears to be driven by the preference for lightweight components such as bumpers, dashboards, automobile batteries, headlamps, wires, cables, etc, further states the research report, “Oman Masterbatch Market Analysis, 2023.”
The Huge Adoption in Producing Plastic Kitchenware Has Prompted the Expansion of Color Masterbatches
Due to their quick adoption in the Oman Masterbatch Market, color masterbatches attracted the most attention during the forecast period. It mainly owes to their enormous advantages, such as ease of use and handling, superior color dispersion and distribution, and notable control of the product's transparency and opacity, among others. Perhaps this explains the widespread use of these materials in manufacturing plastic kitchenware, multilayer bottles, and boxes.
Moreover, color masterbatches improve the anti-microbial and UV protection of plastic cookware that is widely used in households. With characteristics like flame retardation, scratch resistance, preventing thermal or oxidative degradation, UV stabilization, optical brightness, and surface resistivity, they aid in promoting enhanced performance from polymer materials.
Furthermore, the current shift in market dynamics creates new opportunities for color masterbatch manufacturers to expand production capacities & introduce innovative products in order to yield significant profits and boost the market as a result of the emerging trend of personalized products with specialty colors like fluorescent, metallic, & glow-in-the-dark.
The leading players in the Oman Masterbatch Market are Gulf Additives LLC, LyondellBasell, Vibrant Colortech, Polytec Masterbach LLC, The MAAG Group, First Maritime General Trading Company, USEON (Nanjing) Extrusion Machinery Co., Ltd., Clariant Masterbatches, ?lhan Plastik, Perfect Colourants and Plastics Pvt. Ltd. (PCPPL).
Key Questions Answered in the Research Report