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(I-AutoNewsWire.com, August 03, 2018 ) China is having highest growth in terms of CAGR, projecting higher revenue turnover in Masterbatch Market over the forecast spell. Automotive, packaging and consumer goods are among growing industries. Japan, China and India are spending immense amount of capital on economic development which is impacting market growth. Followed by Asia Pacific, Europe has second highest market share, growing at CAGR of over 5.6%, due to high demand from automobile industry which will enhance market growth in coming years.
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Masterbatch Market is forecast to exceed USD 14 billion; according to a new research report . The market will be growing with a CAGR of around 5.4% in projected timeframe. Increasing application of plastic over metal in automobile industry will augment market growth. Several government investment initiatives and supporting policy outlined for automotive producers in Asia Pacific will enhance market growth during forecast period.
Further positive shift in buyer preferences towards better living standards coupled with growing consumer purchasing power in the region will gain significant returns for automotive industry. Thus, global masterbatch market will be positively driven by automotive industry, indorsing growth for various masterbatch products over coming years.
The demand for masterbatch product is restrained by growing masterbatch products prices. Variation in market dynamics coupled with rise in raw material prices is inflating the price of masterbatch products. Hence rise in market prices will undesirably impact the industry over the forecast timeframe. Further, strict government regulation implemented to protect human health and environmental pollution worldwide, limits the usage of specific pigments in masterbatch product due to harmful health hazard which will negatively impact market demand over the forecast period.
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Automotive industry is likely to witness high demand from Asia Pacific. Further government high investment in this sector, will augment polymers market in projected timeframe. Agriculture segment is significantly contributing toward market growth at CAGR of over 6.0%, market is substantially driven by increasing cultivation activities and rapidly growing population.
Masterbatch market has several number of local and global masterbatch producer and distributors functioning across the globe. The prominent market leaders are RTP, BASF, Clariant, Cabot Corporation, PolyOne, Tosaf Group., Plastika Kritis and Ampacet. Few of the companies of this industry follow market integration to enhance their product portfolio and supply chain.
Global Market Insights, Inc.
Arun Hegde
1-888-689-0688
sales@gminsights.com
Source: EmailWire.Com
Source: EmailWire.com
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