BURNABY, Canada, March 31, 2016 /PRNewswire/ --
Expanding plastic processing industry coupled with surging demand from the packaging industry to drive masterbatch market in Asia-Pacific region through 2021
According to the recently published report by TechSci Research "APAC Masterbatch Market By Type, By Country, Competition Forecast and Opportunities, 2011 - 2021", the APAC masterbatch market is projected to grow at a CAGR of 9.7% during 2016 - 2021. Masterbatches are manufactured by the combination of pigments and additives, and are used to impart color and other desired properties to plastics during manufacturing process. They are broadly classified into four categories, white, black, color and additive. White masterbatches market in APAC region is anticipated to exhibit highest growth rate during 2016-2021, on account of its ability to provide opacity and base color to plastic used extensively in food & beverage and pharmaceutical industries.
In Asia-Pacific region, production of plastic materials increased from 103.4 million metric tons in 2011 to 122.8 in 2015. Increasing number of plastic processing units coupled with growing demand from end use sectors in Asia-Pacific region, especially in China and India is propelling masterbatch consumption. Moreover, increasing demand for colorful and innovative solutions from packaging industry and growing preference of plastics and polymers for manufacturing light weight vehicles in automotive industry is forecast to boost demand for masterbatch in APAC countries through 2021.
"Over the last few years, Asia-Pacific has emerged as the largest masterbatch market, with demand for masterbatch majorly being driven by China and India. In order to sustain in highly competitive Asia-Pacific masterbatch market, leading market players are investing heavily in R&D for introducing technologically advanced masterbatch products as well as to increase product quality, and operational and energy efficiency of existing products. All these factors are anticipated to positively influence the masterbatch market in Asia-Pacific region over the next five years," said Mr. Karan Chechi, Research Director with TechSci Research.
"APAC Masterbatch Market By Type, By Country, Competition Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of Asia-Pacific 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 Asia-Pacific masterbatch market.
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.
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SOURCE TechSci Research