BURNABY, Canada, May 21, 2015 /PRNewswire/ --
Growing demand for plastics from plastic packaging and automotive industries to drive the masterbatch market in Europe
According to recently published TechSci Research report, "Europe MasterbatchMarket Forecast & Opportunities, 2020", the masterbatch market in Europe is projected to surpass USD4.7 billion by 2020. Growth in the market is anticipated on account of rising demand for plastics from various end user segments such as packaging, automotive, and buildings & construction. Masterbatch formulations are used in the production of plastics, to impart color and other specialized properties based on specific applications. Increasing demand for attractively packaged food & beverage products, along with rising consumption of plastics in automotive sector for production of light weight vehicles, is expected to drive the demand for masterbatch formulations in Europe over the next five years.
Market opportunities for bioplastics continue to grow on account of increasing R&D investments, growing government support towards sustainable development, rising purchasing power of consumers and growing awareness about using eco-friendly products. Consequently, bioplastics are being increasingly used in automotive, pharmaceuticals and agriculture sectors. Since production of bioplastics requires addition of bio-additive masterbatches, which provide color and durability, increasing demand for bioplastics from various end use segments is expected to drive growth in the region's masterbatch market over the forecast period.
"Until 2020, Europe masterbatch market is anticipated to exhibit a similar growth trajectory as has been case over the last five years. The masterbatch market in Western Europe is well-developed and characterized by the presence of prominent players. However, Eastern European countries, especially Russia, Poland and Belarus, are expected to outperform the broader market.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Europe Masterbatch Market Forecast &Opportunities, 2020" has evaluated the future growth potential of Europe masterbatch market, and provides statistics and information on market structure, industry behavior and trends. The report includes masterbatch market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities prevalent in European masterbatch market.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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