Middle East and Africa Masterbatch Market

Middle East and Africa Masterbatch Market Size (2024 to 2029)

The Middle East and Africa Masterbatch Markets was worth US$ 1.77 billion in 2023 and is anticipated to reach a valuation of US$ 2.53 billion by 2029 and it is predicted to register a CAGR of 6.10% during the forecast period 2024 to 2029

Market Drivers and Restraints

The use of plastics as a replacement for metals has been the driving aspect of the growth of the MEA masterbatch market. The demand for high-performing, advanced materials is continuously growing and the masterbatch market has been on the positive side of the growth. The call for colored pigments has also increased across various sectors further improving the growth opportunities for the masterbatch color segment market. The growth of the construction sector in the Middle East countries such as Qatar and Saudi Arabia and rapid urbanization in the African region have spiked the demand for composite materials and colored pigments. This is one of the major driving factors for the Masterbatch industry in the Middle East and African region.

However, there are some limitations in the growth of the MEA masterbatch market, such as the high cost and complexity of color masterbatches, along with the demand for large types of machinery, huge production space, long lead times, and others. The African region sees a very low spending power of the consumers and thus bio-plastics are not so popular in these regions due to their high costs. On the other hand, Middle Eastern countries have socio-economic problems that result in civil war and regions plagued by terrorism, which drains a lot of the country’s resources, preventing investments in other sectors.

Impact of COVID-19 on the Middle East and African Masterbatch Market

COVID-19 has exposed severe challenges for the masterbatch market in the MEA. Major economies of the Middle East and Africa are affected due to the pandemic despite this region being the least affected by the pandemic. The Masterbatch market also suffered huge losses due to the halt in production and manufacturing activities across the continent. On top of this, foreign investments in African regions were halted and this hindered the growth of the Masterbatch industry. Experts believe that the recovery of the market is expected to start in late 2021 with an expected growth rate of 7% CAGR.

This research report on the Middle East and Africa Masterbatch market has been segmented and sub-segmented based on the following categories.

Middle East and Africa Masterbatch Market By Type

• Color
• White
• Filler
• Additive

The color segment is also expected to grow during the outlook period of 2020 to 2025. This is because colored pigments are heavily used in the packaging, consumer goods, and construction sectors.

Middle East and Africa Masterbatch Market By Polymers

• PP
• LDPE
• HDPE
• PVC
• PUR
• PS

Middle East and Africa Masterbatch Market By Application

• Building and Construction
• Paper and Cardboards
• Consumer Goods
• Automotive
• Textile
• Household
• Personal Care

The building and construction sector has grown rapidly in the Middle East and African region. The personal care sector has flourished in these times and as a consequence, the masterbatch industry has also gained a lot.

Middle East and Africa Masterbatch Market By Country

Israel and Turkey are also key players who are investing a lot in bio-plastics and will experience positive results in the upcoming years. The African region accounts for the largest market in terms of size and volume. GCC countries are not far behind their African counterparts in the masterbatch market.

KEY MARKET PLAYERS

1. Tosaf Compounds
2. A Schulman Inc.
3. Cabot plastics International
4. Penn Color Inc.
5. Clariant Masterbatches

RECENT HAPPENINGS IN THE MARKET

• In 2020, Israeli-based company Tosaf opened its first operation plant in a North American country, expanding its business outside the middle east region.
• In January 2020, Cabot International bought a Chinese nanotube supplier in a deal worth 115 million USD. Shenzen Sanshun Nano New Materials was the leading carbon nanotube producer in China.
• In March’2019, Ampacet started a new production line situated in Belgium aiming to improve the overall consumer experience through their expansion.