TechSci Research Announces New Publication Report on 'Saudi Arabia Masterbatch Market Forecast & Opportunities, 2019'
The government of Saudi Arabia has been actively promoting downstream petroleum industries such as polymer processing in order minimise the kingdoms economic dependence on oil export. Since polymer processing involves the use of masterbatches in high volume, the demand for these products is escalating at a steady pace in the kingdom. Masterbatches are used to provide the desired look to plastic material and at times to enhance their functional physicals properties like strength, durability, etc. During the last decade, the domestic consumption of masterbatch in Saudi Arabia remained muted due to limited number of manufacturers active in the country. Finished plastic products were majorly being imported from neighboring regions, mainly Asia-Pacific. However, with various leading global masterbatch manufacturers setting up their manufacturing facilities in Saudi Arabia, the market is expected to grow further in both value and volume terms during the forecast period. The country is expected to witness significant technological advancement with the introduction of high-quality, standardized masterbatches for use in construction, plastic, fiber and agriculture industries.
According to "Saudi Arabia Masterbatch Market Forecast & Opportunities, 2019" , the masterbatch market in Saudi Arabia is projected to witness a CAGR of 6.3% till 2019 in terms of volume consumption. The market is dominated by white and black masterbatches, which cumulatively accounted for majority share in Saudi Arabia. Growth in major end user industries like packaging, automotive, appliances and textiles is expected to garner the demand for masterbatch in the kingdom. Packaging films, however, form the fastest growing segment for masterbatches consumption in Saudi Arabia. The leading players in the kingdom include Clariant, Astra Polymers, Ingenia Polymers, Delmon Co. Ltd., Cabot Corporation and Energy a Plastics Saudi Arabia.