India Masterbatch Market to Grow at CAGR 11% till 2025
Robust
growth in packaging industry, rising industrialization, and growing demand for
light weight and fuel efficient vehicles to drive India masterbatch market
through 2025
According to TechSci Research
report, “India
Masterbatch Market By Type, By Polymer Type, By Application, By End Use,
Competition Forecast and Opportunities, 2011 - 2025’’, masterbatch market in India
is forecast to grow at a CAGR of over 11% during 2016-2025, on account of strong
growth in packaging and automotive sectors, favorable government regulations, and
rapid industrialization and commercialization. Further, growing demand for
masterbatch in the country can also be attributed to strong emphasis on development of eco-friendly cars by
the government. Government of India implemented strict regulations regarding
greenhouse gases emissions by vehicles, to control pollution in the country.
Government of India announced plans to invest US$ 14.7 billion for development
of 100 smart cities and 500 cities under Atal Mission for Rejuvenation and
Urban Transformation (AMRUT) mission. Indian government has also been making
provisions under ‘Make in India’ initiative to strengthen manufacturing capacities
of the country. These schemes are expected to drive masterbatch consumption in
India through 2025.
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In 2015, India food and beverage industry was valued at
USD34 billion in 2015 and this is projected to grow in the coming years, due to
rising demand for packaged food and beverages in the country. Rising demand for
innovative and environment friendly packaging from food & beverage and
pharmaceutical sectors is expected to drive sales of masterbatch for manufacturing
packaging materials in India. Further, India is emerging as a low-cost
manufacturing base for automotive sector and thus the country has experienced
strong growth in production of automobiles. In 2014, launch of “Make in India”
campaign is projected to boost growth in the country’s manufacturing and real
estate sectors. Rising investments on infrastructural developments is projected
to boost demand for masterbatch used in the production of wires & cables, plastics,
etc., through 2025. Few of the leading masterbatch manufacturers in the country
include Plastiblends, Alok Masterbatches,
Poddar Pigments, Ampacet and Blend Colours, among others.
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“Continuous
efforts of manufacturers to develop innovative products, and enhance
performance, product portfolios and efficacy of existing masterbatch
technologies is boosting growth in India masterbatch market. Panels and slabs
produced using newly discovered technologies are expected to be more cost and
energy efficient, have sound mechanical properties and reduce carbon dioxide
emissions. This is anticipated to address environmental concerns, and make it a
suitable products for construction and other end use industries. Growing focus
on technological innovations is anticipated to propel growth in India
masterbatch market through 2025”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“India Masterbatch Market By Type, By Polymer
Type, By Application, By End Use, Competition Forecast and Opportunities, 2011
- 2025”
has evaluated the future growth potential of India 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 take sound investment evaluation. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers, challenges
and opportunities in India masterbatch market.
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