Press Release

Led by Growing Packaging Industry, Saudi Arabia Masterbatch Market to Reach $ 264 Million by 2024

Increasing focus on petrochemical industry, government initiatives aimed at boosting real estate sector, healthy growth in automotive sector and innovative plastic packaging methods to drive Saudi Arabia masterbatch market through 2024

According to TechSci Research report, Saudi Arabia Masterbatch Market By Type, By Application, By End Use, Competition, Forecast & Opportunities, 2014 - 2024’’, Saudi Arabia masterbatch market is projected to reach $ 264 million by 2024, owing to strong growth in packaging industry, backed by rising demand for innovative flexible packaging methods from booming FMCG sector in the country. Polymer plays a vital role in the masterbatch market, as polymers are extensively used in the production of masterbatch. Saudi Arabia accounted for about two-thirds of polymer resin production in the GCC region in 2017 and emerged as the largest exporter of polymer in the region in the reported year. With various government initiatives aimed at supporting real estate sector, building & construction segment is growing across the country, which in turn is driving demand for masterbatch.  

Browse 7 market data Tables and 37 Figures spread through 99 Pages and an in-depth TOC on  "Saudi Arabia Masterbatch Market"


https://www.techsciresearch.com/report/saudi-arabia-masterbatch-market/3751.html


By type, white masterbatch dominates the country’s masterbatch market, owing to its extensive use in packaging industry and in the manufacturing of various appliances like telephone handsets, keyboards and microwave bodies. The packaging industry is the largest end user of masterbatch in Saudi Arabia, on account of growing applications of flexible packaging in the country. Regionally, Eastern Province generates the largest demand for masterbatch, backed by the presence of numerous major plastic processing clusters in the region. The industrial park in Dammam is the most active processing area, thus Eastern Province is expected to account for the largest share in the country’s masterbatch market during forecast period.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=3751

Customers can also request for 10% free customization on this report.


“Globally, Saudi Arabia is the largest producer of petrochemicals, the basic raw material for manufacturing polymers. The Government of Saudi Arabia aims to increase the total output of petrochemicals, which would result in abundant raw material supply for masterbatch production. In October 2018, Saudi Aramco announced plans to increase its refining capacity to about 10 million barrels per day and double its petrochemicals production by 2030. Additionally, the industrial zone of Yanbu, developed by the Royal Commission for Jubail & Yanbu, has attracted a majority share of the region’s petrochemical investments. Such market developments are expected to positively influence Saudi Arabia masterbatch market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 

Saudi Arabia Masterbatch Market By Type, By Application, By End Use, Competition, Forecast & Opportunities, 2014 - 2024 has evaluated the future growth potential of masterbatch market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in Saudi Arabia masterbatch market.

 

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: [email protected]

Relevant Reports

Saudi Arabia Masterbatch Market By Type (White, Black, Additive, Color), By End User (Packaging, Building & Construction, Consumer Goods, Automotive, Textile, Others), By Region, Competition, Forecast and Opportunities,

Chemicals | May, 2024

Growing demand of masterbatch in construction and automotive industries are factors driving the Saudi Arabia Masterbatch Market in the forecast period 2025-2029.

Relevant News