Masterbatch market in India to exceed $1.1 billion by 2020

Research and Markets releases a new report "India Masterbatch Market Forecast and Opportunities, 2020" where it projected that te country's masterbatch market is expected to exceed the $1.1 billion level by 2020.

Growth in the Indian masterbatch market is anticipated on account of increasing plastic and polymer consumption coupled with rising demand from packaging industry, especially flexible packaging. Segment-wise, white masterbatch dominated the country's masterbatch market in 2014 and the segment is anticipated to hold its leadership position till 2020. White masterbatch demand is increasing due to its ability to provide opacity as well as base color to the plastic used extensively in milk pouches, milk bottles, plastic bags, food material packaging and pharmaceutical packaging. The largest end use industry for masterbatch applications in India is the packaging sector and the segment is projected to dominate though 2020.

Masterbatches are manufactured by the combination of pigments and additives, and are used to impart color and other desired properties to plastics during a manufacturing process. Masterbatches are broadly classified into four categories, namely, white, black, color and additive. They are used in a wide range of applications in packaging industry, construction sector, pharmaceutical sector, electrical & electronics industry and production of household appliances. Demand for masterbatches is directly influenced by the growth in packaging and automotive industries, which over the last decade have been witnessing robust growth in India on account of rising purchasing power of consumers and expanding middle class population.