Middle East and Africa Masterbatch Market Size Booming to Surpass Value of USD 2.65 Billion and Volume of 907,000 Tons by 2030

Middle East and Africa Masterbatch Market is flourishing because of an increasing demand for plastic products and also for bio-based masterbatches.

Report Ocean, a leading strategic consulting and market research firm, in its recent study, estimated the Middle East and Africa Masterbatch Market size at USD 1.76 billion in 2023. During the forecast period between 2024 and 2030, Report Ocean expects the Middle East and Africa Masterbatch Market size to expand at a CAGR of 6.11% reaching a value of USD 2.65 billion by 2030. Expanding Masterbatch applications across a broad variety of sectors, including consumer products, textiles, automotive, and agriculture, are major development factors for the Middle East and Africa Masterbatch Market.

By volume, Report Ocean estimated the Middle East and Africa Masterbatch Market size at 821.2 thousand tons in 2023. During the forecast period between 2024 and 2030, Report Ocean expects the Middle East and Africa Masterbatch Market size to expand at a CAGR of 5.78% reaching the volume of 907.4 thousand tons by 2030. The Middle East and Africa Masterbatch Market is expected to be driven by the region's developing industrial sector, notably the expanding automotive industry.

Opportunity: Growing Awareness about Favorable Features of Masterbatch

Masterbatch is being used across various industries, such as packaging, automotive, consumer goods, and others, for adding color in plastics. The favorable characteristics plays a crucial role in boosting its market growth. For instance, masterbatch is highly versatile and can easily be used in most polymer processing methods. Along with being a versatile additive, masterbatch is also cost effective as it allows bulk purchase and storage for manufacturers at lower cost as well as reduces waste and overall production cost. Such factors are directly influencing the growth of the Middle East and Africa Masterbatch Market.

Middle East and Africa Masterbatch Market

Segmental Coverage

Middle East and Africa Masterbatch Market - By State

Based on the state, the Middle East and Africa Masterbatch Market is segmented into solid masterbatch and liquid masterbatch. The solid masterbatch segment holds a larger share in the Middle East and Africa Masterbatch Market owing to its longer shelf life compared to its liquid counterpart, due to solid masterbatch is solvent-free and therefore, there is no evaporation of solvent over time. As there is no chance of solvent evaporation, the masterbatch will continue to have its properties for its entire shelf life.

Middle East and Africa Masterbatch Market - By Country

The in-depth research report on the Middle East and Africa Masterbatch Market covers a number of country-specific markets, including Saudi Arabia, the UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, and the rest of MEA. Saudi Arabia dominates the Middle East and Africa Masterbatch Market owing to the rising domestic production of masterbatch in the Kingdom. Various leading industry players, such as Clariant, Eco Batch, and others, are establishing factories locally to meet the growing demand for masterbatch in the country, which is anticipated to drive market growth during the forecast period.

Competitive Landscape

Major players operating in the Middle East and Africa Masterbatch Market include Al Zhoor Plastic Factory, Ampacet Corporation, Astra Polymers Compounding Co., Ltd, Blend Colors Pvt Ltd, Cabot Corporation, Clariant AG, Gabriel-Chemie Group, Hubron International, Ingenia Polymers Co. Ltd, and LyondellBasell.

These companies employ various strategies to further enhance their market share, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Middle East and Africa Masterbatch Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Middle East and Africa Masterbatch Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.