BURNABY, Canada, March 23, 2016 /PRNewswire/ --
Growing Demand from Packaging Industry Coupled With Expanding Automotive, Building and Construction Sector to Boost Qatar Masterbatch Market
According to recently published TechSci Research report, "Qatar Masterbatch Market By Type, By Application, Competition Forecast and Opportunities, 2011 - 2021", the masterbatch market in Qatar is projected to cross US$ 23 million by 2021. Masterbatch is a solid or liquid mixture of pigments or additives used as a raw material in plastic processing for imparting color or other special characteristics to processed goods. Globally, masterbatch are increasingly replacing the conventionally used dry pigments and compounds. However, in Qatar, pigments and compounds continue to be widely used in various industries such as PVC pipe industry, thereby restricting volume consumption of masterbatches in the country. Masterbatch are broadly categorized as white, black, color and additive, with the market for masterbatch in Qatar being dominated by white masterbatch, in volume terms, in 2015.
Plastic processing industry in Qatar is concentrated in two major industrial areas, that is, Doha Industrial Area and Mesaieed Industrial Area, of which Doha Industrial Area accounted for the majority share in the Qatar masterbatch market in 2015. Majority demand for masterbatch emanates from the processors using blown film extrusion process, which is used for manufacturing plastic packaging products. In addition to blown film, masterbatch are also used in significant quantities in roto molding process, predominantly in the production of storage tanks and builders plastic products. Cable manufacturing is another major end use application for masterbatch suppliers in Qatar, wherein color masterbatch is the dominant product segment. Cable manufacturers predominantly use green, red, blue and yellow masterbatch to comply with color coding for easy and safe identification of cables.
Qatar masterbatch market is entirely dependent on downstream market, i.e., polymer or plastics industries in the country. Demand for masterbatch continues to be propelled by increasing demand for polymer resins, as masterbatches are incorporated in polymer resins for the production of plastic in various shape and size. During 2013-2015, Qatar polymer market exhibited robust annual growth of 39.12% in volume terms. In 2015, the output of the polymer industry of Qatar stood at 2.1 million metric tons as compared with 1.7 million metric tons in 2014, exhibiting a sturdy year on year growth rate of around 23.53%. Major types of resins/polymers manufactured in Qatar include Low Density Polyethylene (LDPE), Linear Low Density Polyethylene (LLDPE), High Density Polyethylene (HDPE), Medium Density Polyethylene (MDPE), etc. In addition to domestic market, Qatar serves the export demand as well. Augmented demand from the plastic processing industries is expected to steer the Qatar masterbatch market at a healthy pace through 2021.
"Demand for masterbatches is increasing at a moderate pace on account of rising demand for plastics, coupled with supportive initiatives taken by the Government of Qatar. Masterbatch suppliers in Qatar are witnessing growing demand for additive masterbatch on account of increasing preference for high grade and speciality products coupled with rising demand for bio degradable plastics. All these factors are expected to directly boost the masterbatch demand in Qatar over the course of next 5-10 years", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Qatar Masterbatch Market By Type, By Application, Competition Forecast and Opportunities, 2011 - 2021" has analyzed the potential of masterbatch market in Qatar, and provides statistics and information on market size, consumer behavior and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the masterbatch industry in Qatar.
About TechSci Research:
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
Sales & Marketing Consultant
Contact Phone- +1 646 360 1656
SOURCE TechSci Research