Masterbatch Demand to Soar €5.7 Billion by 2021
Growing
applications in plastics and polymer processing industry coupled with improving
macroeconomic scenario to boost masterbatch market in Europe through 2021
According to “Europe Masterbatch Market By Type, By End User, By Country, Competition Forecast and
Opportunities, 2011 - 2021”, the masterbatch market in Europe is projected to cross US$ 6.3 Billion
(€5.7 Bn) by 2021. Masterbatches are being used during the processing of
plastics and polymers to provide certain specific properties to base plastics
and polymers. Masterbatch consumption in packaging industry has increased
significantly in the region over the last five years due to rising popularity
of small pack sizes, expanding sales & distribution network of plastic
processors and plastic products, and booming flexible packaging market. In
Europe, the plastic production increased from 55 million tons in 2009 to 59
million tons in 2014.
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market data Tables and 55 Figures spread through 145 Pages and an
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Masterbatch Market"
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Increase in the consumption
of plastics for vehicle production is another major factor aiding the demand
for masterbatches in Europe. In Europe, around 90.78 million automobiles were
produced in 2015. Consequently, the share of Europe in the global automobile
manufacturing increased from 22.76% in 2014 to 23.24% in 2015. Abundant availability of raw
materials coupled with a pro-business environment has generated opportunities
for OEM manufacturers to establish production bases in Europe, and this is
projected to boost the demand for masterbatch in the region over the next five
years.
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“In
2015, Germany dominated the Europe masterbatch market, and the country is
anticipated to maintain its dominance through 2021, as it is one of the largest manufacturers of automobiles, especially passenger
cars. Globally, the country accounts for about 30% of total passenger cars
manufactured coupled with 20% of new registrations of vehicles. AC Automotive, Audi, BMW, Ford, Iveco, MAN,
Mercedes, Neoplan, Opel, Porsche, Volkswagen and Wiesmann are some of the major
companies present in Germany.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Europe Masterbatch Market By Type, By End User, By Country, Competition
Forecast and Opportunities, 2011 - 2021” has
evaluated the future growth potential of Europe 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 Europe masterbatch market.
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