Saudi masterbatch market to to $167m

04/08/2015 15:22 AST

The masterbatch market in Saudi Arabia is projected to reach $167 million by 2020, on the back of growing demand from the packaging and construction sectors.

The prediction was made by TechSci Research, in its recently released report "Saudi Arabia Masterbatch Market Forecast & Opportunities, 2020”.

Masterbatch is a solid or liquid mixture of pigments or additives used as a raw material in plastic processing in order to impart colour or other special characteristics to processed goods.

According to the global market research and consulting company, there will be an increase in the number of plastic processing facilities in Saudi Arabia coupled with growing demand from end use sectors, over the next five years.

The report also forecasted that the packaging sector will remain the largest end-use application for masterbatch in Saudi Arabia.

Karan Chechi, research director, TechSci Research, said: “The government of Saudi Arabia has planned huge investments in petrochemical and plastics sector in order to encourage and catalyse industrial diversification in the country and reduce dependence of the economy on oil exports.

“It aims to place Saudi Arabia among the top 10 global plastics exporters by 2020. This is expected to directly boost the masterbatch demand in the country over the course of next 5-10 years,” he said.

Some of the major masterbatch companies operating in the country include Clariant Masterbatches (Saudi Arabia), Astra Polymers, Ingenia Polymers, Juffali PolyOne Corporation and Cabot Corporation.

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