NEW YORK, July 25, 2016 /PRNewswire/ --
Growing applications in plastics and polymer processing industry coupled with improving macroeconomic scenario to boost masterbatch market in Europe through 2021
According to "Europe Masterbatch Market By Type, By End User, By Country, Competition Forecast and Opportunities, 2011 - 2021", the masterbatch market in Europe is projected to cross US$ 6.3 Billion (€5.7 Bn) by 2021. Masterbatches are being used during the processing of plastics and polymers to provide certain specific properties to base plastics and polymers. Masterbatch consumption in packaging industry has increased significantly in the region over the last five years due to rising popularity of small pack sizes, expanding sales & distribution network of plastic processors and plastic products, and booming flexible packaging market. In Europe, the plastic production increased from 55 million tons in 2009 to 59 million tons in 2014.
Browse 21 market data Tables and 55 Figures spread through 145 Pages and an in-depth TOC on "Europe Masterbatch Market"
Increase in the consumption of plastics for vehicle production is another major factor aiding the demand for masterbatches in Europe. In Europe, around 90.78 million automobiles were produced in 2015. Consequently, the share of Europe in the global automobile manufacturing increased from 22.76% in 2014 to 23.24% in 2015. Abundant availability of raw materials coupled with a pro-business environment has generated opportunities for OEM manufacturers to establish production bases in Europe, and this is projected to boost the demand for masterbatch in the region over the next five years.
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"In 2015, Germany dominated the Europe masterbatch market, and the country is anticipated to maintain its dominance through 2021, as it is one of the largest manufacturers of automobiles, especially passenger cars. Globally, the country accounts for about 30% of total passenger cars manufactured coupled with 20% of new registrations of vehicles. AC Automotive, Audi, BMW, Ford, Iveco, MAN, Mercedes, Neoplan, Opel, Porsche, Volkswagen and Wiesmann are some of the major companies present in Germany.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Europe Masterbatch Market By Type, By End User, By Country, Competition Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of Europe 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 Europe masterbatch market.
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