BURNABY, Canada, February 1, 2016 /PRNewswire/ --
Growing construction and automotive sectors coupled with expanding packaging industry to augment masterbatch demand
According to recently published TechSci Research report, "Global Masterbatch Market By Type, By End User, By Region, Competition Forecast and Opportunities, 2011 - 2021", global masterbatch market size is estimated to cross $ 16 billion in 2016. Growth in the market is anticipated on account of continuously increasing demand from major end use industries, such as packaging, food processing, building & construction, and automotive industries. Moreover, masterbatch consumption in packaging has increased significantly across the globe over the last five years due to rising popularity of small pack sizes, expanding sales and distribution network of plastic processors and plastic products, as well as growing use of flexible packaging market.
Based on their use and appearance, masterbatches are classified into four major types, namely, black, white, color and additive masterbatches, which are used in diverse industry applications. Out of these categories, white masterbatch dominated the global masterbatch market in 2015. The segment is forecast to maintain its dominance during 2016 - 2021 as well, on account of increasing use of white masterbatch for imparting opacity and base color to plastics used extensively in food & beverage and pharmaceutical industries. Region-wise, Asia-Pacific accounted for the largest share in the global masterbatch market in 2015 due to growing demand for innovative and attractively packaged food items in the region.
"In the initial years of reported growth, the global masterbatch market was majorly dominated by the European region, however due to the impact of Eurozone economic crisis, the European masterbatch market has been growing at a sluggish pace since 2008. Consequently, Asia-Pacific has emerged as the largest masterbatch market, with demand for masterbatch majorly being driven by China and India over the last few years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global Masterbatch Market By Type, By End User, By Region & Competition Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of global masterbatch market, and provides statistics and information on market structure, industry behavior and trends. The report includes masterbatch market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities prevalent in the global masterbatch market.
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