Masterbatch is a mixture of solid additives used for plastic in a concentrated form, heated to process in a carrier resin, followed by cooling down & cut into a granular shape.
The Middle East Masterbatch Market is likely to grow at a CAGR of around 7.11% during the forecast period, i.e., 2021-26, says MarkNtel Advisors. The prime factors supporting the massive market growth include the significant rise in the automotive industry and the rapidly surging industrialization & construction projects.
The rapidly increasing preferences toward masterbatch instead of metals by automotive manufacturers is another crucial aspect likely to fuel the market growth significantly. Moreover, the need to produce lightweight components shall also drive the Masterbatch market in the Middle East during the forecast period.
|Study Period||Historical Data: 2016-20|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||Middle East: Saudi Arabia, UAE, Qatar, Kuwait, Oman, Turkey, Egypt, Jordan|
|Key Companies Profiled||Clariant Masterbatches 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., Orbit Masterbatches Pvt. Ltd.|
|Unit Denominations||USD Million/Billion|
Covid-19 Severely Impacted the Middle East Masterbatch Market
With the outbreak of the Covid-19 pandemic, almost all kinds of the market observed disruptions, and the Middle East Masterbatch Market was no exception. With the imposition of lockdown and stringent norms by governments, the market observed a temporary halt in its growth. All production units got shut, and with the low demand for masterbatch, the production volume was cut short. Besides, the unavailability of raw materials and disrupted supply chain further affected the market severely.
However, with the gradual upliftment of restrictions, the Middle East Masterbatch Market shall regain its usual pace, recover from the loss, and create remunerative growth opportunities for leading players in the forecast period.
Packaging to Dominate the Middle East Masterbatch Market with Largest Share
Based on the End-User, the Middle East Masterbatch Market segments into Automotive, Packaging, Consumer Goods, Agriculture, and Construction. Of them all, the Packaging sector is more likely to dominate the market with the largest market share in the forecast period. It owes to the availability of plastic, and its adherence to regulatory standards, making them the most extensively used packaging material.
Besides, the ability of plastics to transform into several shapes & sizes, along with their aesthetic appeal, is further propelling the demand for masterbatches in the packaging sector across UAE. Additionally, the increasing value of branding & color in marketing shall also lead the segment to hold the largest market share in the coming years.
Blow Molding to Witness the Fastest Growth in the Middle East Masterbatch Market
Based on the Application, the Middle East Masterbatch Market segments into Film Extrusion, Injection Molding, Blow Molding, Roto-Molding, and Others. Of all, Blow Molding is expected to attain the fastest market growth in the forecast period. It attributes to the increasing use of Blow Molding, especially across the automotive sector, for increasing the volume & reducing the weight of the plastic.
Blow Molding provides brightness and a finished look to the product in various elements, thereby surging the demand for masterbatches significantly across the Middle East. Furthermore, its ability to increase transparency, reduce cycle time, and improve the dimensional stability of end-use products are other crucial factors likely to lead the segment to attain the fastest growth in the market, states MarkNtel Advisors in their research report, “Middle East Masterbatch Market Analysis, 2021.”
The prime factor likely to drive the Middle East Masterbatch Market in the forecast years is the accelerating demand for plastic by multiple end-user industries owing to its use in products like wires & cables, electronic gadgets like T.V. & computers, and home appliances.
The degradability & environmental impact of these polymers might hinder the Middle East Masterbatch Market growth. In addition, the fluctuation in stiffness & color of the masterbatches shall also restrain the sales until overcome by modern technologies.
Middle East Masterbatch Market to Observe Fastest Growth in Saudi Arabia
The Masterbatch Market growth is anticipated to be the fastest in Saudi Arabia. It owes primarily to the extensive packaging sector pushing the demand for different types of flexible packaging films. In addition, the automotive industry increasing the production of passenger & commercial vehicles shall further contribute to the market growth across Saudi Arabia.
Moreover, rapid urbanization shall remain a consistent growth factor for the market in the country during the forecast period. The government introducing numerous initiatives to boost real estate in the country would positively impact the Middle East Masterbatch Market in the coming years.
According to MarkNtel Advisors, the leading players in the Middle East Masterbatch Market are Clariant Masterbatches 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., Orbit Masterbatches Pvt. Ltd.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Middle East Masterbatch Market is likely to grow at a CAGR of around 7.11% in the forecast period of 2021-26.
A. Clariant Masterbatches 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., Orbit Masterbatches Pvt. Ltd. are a few leading players in the Middle East Masterbatch Market.
A. Packaging is forecast to attain the highest CAGR and maintain its significant market share during the forecast period.
A. The extensive application of masterbatches accelerates the demand for plastic across multiple end-user industries. It owes to their use in products like wires & cables, electronic gadgets like T.V. & computers, and home appliances, thereby likely to create growth opportunities for the market in the forecast period.
A. The unavailability of raw materials and supply chain disruptions severely affected the market. However, the upliftment of restrictions shall gradually benefit aid the market growth. Moreover, considering the growth potential, massive investments from the leading companies are expected to be observed, enabling the market to regain its usual pace in the forecast period.