Saudi Arabia Masterbatch Market Set to Cross USD 159.32 Million Through 2019, Says TechSci Research

BURNABY, Canada, October 10, 2014 /PRNewswire/ --

High Investments in Petrochemical Sector, Easy Availability of Raw Material and Significant Growth Across Major End User Industries to Buoy Masterbatch Demand in Saudi Arabia During 2014-19F 

Masterbatches are an important component in polymer processing value chain as they provide color and functional properties to finished plastic materials. During the last decade, domestic consumption of masterbatch in Saudi Arabia remained muted due to limited number of manufacturers active in the country. With increasing investments in downstream petrochemical industry, polymer processing sector is set to witness a robust growth in the coming years, which in turn, would drive the demand for masterbatches in Saudi Arabia. The expansion of masterbatch production and processing in the country is expected to pave way for the entry of various global leaders in masterbatch production. Besides global manufacturers, domestic masterbatch manufacturers are also expected to increase their production capacity in order to address the increasing demand for masterbatches in the country.

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According to the recently published report by TechSci Research  "Saudi Arabia Masterbatch Market Forecast & Opportunities, 2019", the masterbatch market in Saudi Arabia is projected to witness a CAGR of 6.3% during 2014-19 in terms of volume consumption. Growth in major end user industries like packaging, automotive, appliances and textiles is expected to garner the demand for masterbatch in the country. Packaging films, however, form the fastest growing segment for masterbatches consumption in Saudi Arabia in volume terms. Although a large number of small-size domestic masterbatch manufacturers have operations in the country, the overall market is largely consolidated among three global manufacturers. Over the coming years, Saudi Arabia's masterbatch market is expected to benefit from large scale construction projects in pipeline, growth in light weight vehicle production and steady growth in plastic packaging industry.

"Heavy investments in petrochemical industry by both public and private sectors are creating expansion opportunities for plastic processors, compounders and masterbatch manufacturers in Saudi Arabia. The government of Saudi Arabia is also planning to make significant investments in downstream petroleum industries todiversify its economic dependence on oil export. Consequently, polymer processing is emerging as one of the major hotspots for masterbatch manufacturers existing or targeting to enter Saudi Arabia." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"Saudi Arabia Masterbatch Market Forecast & Opportunities, 2019" has evaluated the future growth potential of masterbatch market in Saudi Arabia and provides statistics and information on market structure and industry behavior trends. The report includes Saudi Arabia masterbatch market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in Masterbatch market, globally.

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