Clariant JV Starts Construction of Masterbatch Production Plant in Saudi Arabia
Saudi
Arabia: Clariant Masterbatches Saudi Arabia, a joint venture
between Clariant, a Switzerland based specialty chemicals manufacturer, and a
Saudi Arabia based multipurpose plastics
producer, that is Rowad
National Plastic Company Ltd., has commenced construction
of a new masterbatch plant at Yanbu, Saudi Arabia. The manufacturing facility,
which would span across an area of around 38,000m², is expected to be
commissioned by early 2017. Clariant and Rowad National Plastic Company have
been operating Clariant Masterbatches Saudi Arabia since August, 2013 and has
an existing manufacturing facility located at Riyadh for the production of
white masterbatch. The new masterbatch plant, which has close proximity to
airport and sea transportation, would enable smooth procurement of raw
materials for the company.
TechSci Research depicts that
the construction of new masterbatch plant by Clariant Masterbatches Saudi
Arabia would enable the company to broaden its product portfolio and strengthen
its position in the Saudi Arabia masterbatch market. Additionally, the company
would also be able to capitalize on the growing demand for masterbatch in the
Middle East and Africa region.
According
to recently released TechSci Research
report, “Saudi Arabia Masterbatch Market Forecast and Opportunities, 2020”, the
masterbatch market in Saudi Arabia is projected to reach USD167 million by
2020. Supportive initiatives undertaken by the Government of Saudi Arabia are
expected to boost the demand for masterbatch in the country through 2020.