MENA Master Batch Market Size Forecast to Reach Around $600 Million by 2025

(The Express Wire via Comtex)

MENA Master Batch Market size is forecast to reach around $600 million by 2025, after growing at a CAGR of 6% during 2020-2025. Master batch is a concentrated mixture obtained by distribution of pigment or additives into a polymer carrier by heat treatment. They impart colors to the raw polymer and enhance their physical properties during plastic manufacturing process. Increase in demand of plastics as a replacement of metals from various end-use industries such as automotive, packaging and construction is driving the growth of MENA master batch market. Escalating use of master batch in wires, cables and electronic products including T.V, computers and home appliances also aids the growth of market. However, degradability and impact of these polymers on environment acts as a restraint for the growth of market

By Type - Segment Analysis

Color master batch segment holds the largest share of more than 30% in the MENA master batch market in 2019 due to growing uses in various industrial applications. Increase in demand of colorful plastic products for decoration purposes from commercial sector is driving the growth of color master batch market. The color master batch are engineered for complete dispersion in a polymer matrix which enables the final product to have good color distribution compared to raw pigments. In addition to color, they also impart stiffness and adhesive properties to the raw polymer.

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By Polymer - Segment Analysis

Based on the polymer, polypropylene segment holds the largest share of more than 25% in the MENA master batch market in 2019. Polypropylene is used most frequently than any other plastics in end use industries. Durability, shock and moisture resistant, and their ability to reform into any shape has escalated their use in energy and construction sector, further augmenting the growth of master batch market. Use of polypropylene products is increasing in Middle East and Africa due to its cost effectiveness and ability to withstand extreme temperature and abrasion.

By End Use - Segment Analysis

Packaging segment dominates the MENA master batch market with a share of more than 25% in 2019 followed by building and construction. Increase in awareness about health has increased the demand of packaged food across the country. Growing demand from food, beverages and pharmaceuticals is driving the growth of packaging industry which in turn fuel the growth of MENA master batch market. The use of master batch in packaging increases the shelf life of product by protecting it from water, scratch, and dust. To protect the equipment’s from extreme hot climatic condition of MENA is augmenting the growth of this industry.
COVID-19 has badly impacted the MENA master batch market. Continuous rise in cases has increased the fear of people and led them stuck in their houses. Plastic manufacturing industries are shuttered all around the world and facing their biggest downfall. Lack of buyers of crude oil resulted in decrease in their prices and greatly hampers the growth of MENA master batch market. The G20 group of nations has cut down the crude oil production in an effort to stabilize the effect caused by COVID-19 pandemic.

By Geography - Segment Analysis

Saudi Arabia dominates the MENA master batch market with the share of more than 35% in 2019 followed by UAE. Rising population coupled with increase in construction and industrial activities is driving the growth of MENA master batch market. Saudi Arabia is one of the leading producer of crude oil thus availability of raw material has increased the production and consumption of plastic. According to Gulf Petrochemicals and Chemicals Association, Saudi Arabia accounted for 67% of plastic resin production among Gulf Cooperation Council (GCC) in 2016 and was the largest polymers consumer accounting for 61% of the 5 million tons consumption in the GCC, followed by the UAE which accounted for 19%. Also, in 2019 government has allocated USD 46 billion for the healthcare and social development sector, an increase by 8%, when compared to 2018. Increase in pharmaceutical industry results in huge demand of packaging plastics subsequently augmenting the growth of MENA master batch market. Furthermore, Saudi Arabia government had launched the National Industrial Development and Logistics Program (NIDLP), one of the most important programs of Saudi Arabia's Vision 2030, which aims to help the country join the position of leading industrialized nations is likely to aid the growth of MENA master batch market.

Drivers MENA master batch Market

Increasing demands from end- use industries

Increase in demand of plastics from construction and automotive industry are driving the growth of MENA master batch market. Plastics are used as a replacement for metal due to its heavy weight and high cost. The ability of master batch to improve the physical properties of polymers has increased their demand. According to OICA, total motor vehicle produced in Morocco and Egypt was 473,685 in 2019. Increase in automotive production increases the use of plastic polymer for manufacturing bumpers, Instrument panels, etc. which in turn boosts the growth of MENA master batch market. Also, easy availability of raw material (petrochemical) for plastic production fuels the growth of plastic industry, subsequently increasing the growth of master batch market. According to Saudi Arabia government, the plastics and rubber manufacturing companies in Saudi Arabia were reached from 9 companies in 1974 to 997 companies in 2018.

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Challenges MENA master batch Market

Volatility in prices of raw material and increasing environmental concerns

Although master batch offers stiffness and color to the plastic but degradability of master batch is a major concerns and act as a restraining factor for the growth of market. Master batch contains polymers such as polyvinyl chloride, PET, etc. that has harmful effects on human health and environment. Moreover, volatility in prices of crude oil also impacts the master batch market. Due to the geopolitical issues and corona pandemic, crude oil prices are fluctuating, which directly impacts the production and sales of master batch leads to hamper its growth.

Market Landscape

Technology launches, acquisitions and RandD activities are key strategies adopted by players in the MENA master batch market. Major companies of MENA master batch market Clariant AG, Ampacet Corporation, A.Schulman, Inc., Polyone Corporation, Cabot Corporation, Plastika Kritis S.A., Plastiblends India Ltd., Hubron International, Tosaf Group, and Penn Color, Inc., among others.

Acquisition/ launches

In April 2018, Tosaf Group has launched an anti-fog master batch AF7380PE for packaging application. They reduce the effect of water on films and are suitable for a wide range of production processes.

In January 2018, Clariant AG has opened a new master batch production site in Yanbu, Saudi Arabia. It has strengthened Clariant's position in the Middle East and Africa with easy access to raw materials and good logistical connections.

Key Takeaways

Light weight and cost effectiveness have increased the demand of plastic products which in turn boosts the growth of MENA master batch market.

Increasing security and safety concerns have fueled the use of colorful plastics as packaging material, subsequently augmenting the growth of MENA master batch market.

Lockdown and increasing cases of COVID-19 has created major problems for plastic manufacturers, further impacting the growth of MENA master batch market.

Egypt has shown significant growth in MENA master batch market due to its growing uses of plastic component linked with the growing residential sector.

Related Reports :

A. Masterbatch Market

https://www.industryarc.com/Report/15516/masterbatch-market.html

B. Color Masterbatches Market

https://www.industryarc.com/Report/11740/color-masterbatches-market.html

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