Market Research Future Published a Cooked Research Report on Middle East & Africa Colour Masterbatch Market
MEA Color Masterbatch Market that contains facts about the market’s past trend and growth since 2016 along with its predicted future information till 2023. The MEA Color Masterbatch Market has been growing at the CAGR of ~6.35 % from 2016 and is expected to continue the same till 2023.
Market Overview and Growth Factors:
Although Color Masterbatch have a large number of advantages, the most important is their versatility. The increasing need for plastic and packaging across all modern applications is driving the growth of Color Masterbatch Market. This has also resulted in the development of newer and improved application and performance properties; color masterbatch that are fast, easy, and low cost are in demand. Such newly developed color masterbatch include fast curing white, black and standard Color Masterbatches.
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Market Segmentation Analysis:
MEA Color Masterbatch market has been segmented into type, carrier resin and application. Among types, the market has been divided into Black Masterbatch, Standard Color Masterbatch, White Masterbatch, Additive Masterbatch and Filler Masterbatch. Black Masterbatches has accounted the largest market in terms of value and volume. This market was valued at USD 55.0 million in 2015 which is projected to reach USD 119.5 million by 2023 with a CAGR of 7.31%. The major reason behind this exponential growth is due to the increasing number of small and medium scale producers and several key manufacturers focus shifting towards MEA market and increasing demand from plastic and consumer goods industries have propelled the demand.
From the application side, the Middle East & Africa Color Masterbatches Industry has been segmented into packaging, automotive, consumer goods & retail, textile agriculture, building & construction and others. Among these applications, packaging is the leading application where color masterbatch are consumed most. Color Masterbatch are majorly used in the production of plastic packaging. The major raw materials used in its production are polyethylene and polypropylene. The MEA plastic market has seen a humongous growth across the globe since past few years. As per the analysis, the MEA plastic market is expected to touch USD 90 billion by 2023 and other side, the MEA plastic packaging market is expected to touch USD 45 billion by 2023, which implies that in the coming future there would be a massive growth of plastic from the different industries which would increase the need of plastic from its several application industries and simultaneously, the plastic packaging industry would also grow at a higher growth rate. Other applications such as automotive, consumer goods, textile industry are a major consumer of color masterbatch in MEA.
The report for MEA Color Masterbatch Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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