At 4.6% CAGR, Middle East & Africa Masterbatch Market is Projected to be Worth US$ 1,600.10 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa masterbatch market was valued at US$ 1,113.81 million in 2023 and is expected to reach US$ 1,600.10 million by 2031, registering a CAGR of 4.6% from 2023 to 2031. Growing demand for plastic packaging in emerging economies and strategic initiatives by key market players are among the critical factors attributed to drive the Middle East & Africa masterbatch market growth.

Masterbatch is widely used for coloring, UV stabilization, anti-block properties, and flame retardancy in plastic packaging solutions such as films, bottles, containers, sheets, and wraps. It offers several advantages such as precise color control, cost-effectiveness, ease of handling, and customization, making it a preferred choice for achieving desired properties in the packaging products.

Plastic is non-biodegradable material and requires adequate reusable and recycling system. Increasing sustainability initiatives, environmental concerns related to plastic disposal, and formulation regulations are among the factors fostering the demand for recycled plastic. Many organizations and companies have transitioned toward the utilization of recycled plastics for the packaging of finished goods. The demand for recycled plastics in the packaging industry further creates an arena for manufacturers to develop and launch compostable or 100% recycled masterbatch. Therefore, the growing demand for plastic packaging in emerging economies bolsters the growth of the masterbatch market.

On the contrary, fluctuations in raw material prices hurdle the growth of Middle East & Africa masterbatch market.

Based on type, the Middle East & Africa masterbatch market is divided into white, black, additives, color, filler, and others. The white segment held 30.4% market share in 2023, amassing US$ 338.94 million. It is projected to garner US$ 485.94 million by 2031 to register 4.6% CAGR during 2023-2031.

In terms of polymer, the Middle East & Africa masterbatch market is segmented into polyethylene, polypropylene, polyethylene terephthalate, polystyrene, and others. The polyethylene segment held 34.8% share of Middle East & Africa masterbatch market in 2023, amassing US$ 387.06 million. It is anticipated to garner US$ 545.85 million by 2031 to expand at 4.4% CAGR during 2023-2031.

By end-use industry, the Middle East & Africa masterbatch market is divided into building and construction, automotive, packaging, agriculture, electrical and electronics, and others. The packaging segment held 49.0% share of Middle East & Africa masterbatch market in 2023, amassing US$ 546.01 million. It is projected to garner US$ 797.82 million by 2031 to expand at 4.9% CAGR from 2023 to 2031.

Based on country, the Middle East & Africa masterbatch market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 32.6% share of Middle East & Africa masterbatch market in 2023. It was assessed at US$ 362.58 million in 2023 and is likely to hit US$ 541.02 million by 2031, registering a CAGR of 5.1% during 2023-2031.

Key players operating in the Middle East & Africa masterbatch market are Avient Corp, Ampacet Corporation, Cabot Corp, LyondellBasell Industries NV, and FRILVAM SPA, among others.

• In December 2023, Ampacet Corporation introduced ColorMark, masterbatch additive technology that enables processors to create permanent lettering and designs in intricate detail on dark plastic surfaces. It is compatible with PP, PS, ABS, PC, PA and other engineered resins used in injection molding, thermoforming and sheet applications.
  
  
• In November 2023, Cabot Corporation announced the launch of its new REPLASBLAK product family of circular black masterbatches with certified materials. With this launch, Cabot introduced three products which will be sold as the company's first-ever International Sustainability & Carbon Certification (ISCC PLUS) certified black masterbatch products powered by EVOLVE Sustainable Solutions.

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