JSR to Set-up a Masterbatch Production Facility in Mexico
Mexico: Elastomix Co., subsidiary of
Japan based JSR Corp., has planned to invest USD5.1 million for the
construction of a new carbon masterbatch (CMB) manufacturing facility at
Irapuato, Mexico. The construction of the CMB production plant is expected to start
in 2017 and it is scheduled to commence commercial production by 2018. Growing
demand for masterbatch in Mexico is attributed to the growing manufacturing
base for automobile production in the country. Mexico, being the
seventh-largest manufacturer of cars, exports large number of automobiles to other
countries in North America. Therefore, the new masterbatch facility is expected
to address the growing demand for masterbatch from the automotive industry of
Mexico.
TechSci Research depicts that
the establishment of carbon
masterbatch manufacturing facility in Mexico is anticipated to expand
Elastomix’s business in the country. Additionally, the new plant is expected to
support the growing production and demand for cars in the region.
According to the recently
published report by TechSci Research, “Global
Masterbatch Market By Type, By End User, By
Region, Competition Forecast and Opportunities, 2011 - 2021”, global masterbatch market size is estimated to cross US$ 16 billion in
2016. Segment-wise, white masterbatch dominated the overall market in 2015, and
this trend is anticipated to continue through 2021. During 2016-2021, the
demand for masterbatches is anticipated to be largely influenced by packaging
and automotive industries, which has started witnessing steady growth on
account of rising purchasing power of consumers and expanding middle class
population in certain regions.