03-Feb-17 Robust growth in packaging industry, rising industrialization, and growing demand for light weight and fuel efficient vehicles to drive India masterbatch market through 2025, as per TechSci Report. Masterbatch market in India is forecast to grow at a CAGR of over 11% during 2016-2025, on account of strong growth in packaging and automotive sectors, favorable government regulations, and rapid industrialization and commercialization. Further, growing demand for masterbatch in the country can also be attributed to strong emphasis on development of eco-friendly cars by the government. Government of India implemented strict regulations regarding greenhouse gases emissions by vehicles, to control pollution in the country. Government of India announced plans to invest US$ 14.7 billion for development of 100 smart cities and 500 cities under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) mission. Indian government has also been making provisions under 'Make in India' initiative to strengthen manufacturing capacities of the country. These schemes are expected to drive masterbatch consumption in India through 2025.
In 2015, India food and beverage industry was valued at US$34 bln in 2015 and this is projected to grow in the coming years, due to rising demand for packaged food and beverages in the country. Rising demand for innovative and environment friendly packaging from food & beverage and pharmaceutical sectors is expected to drive sales of masterbatch for manufacturing packaging materials in India. Further, India is emerging as a low-cost manufacturing base for automotive sector and thus the country has experienced strong growth in production of automobiles. In 2014, launch of "Make in India" campaign is projected to boost growth in the country's manufacturing and real estate sectors. Rising investments on infrastructural developments is projected to boost demand for masterbatch used in the production of wires & cables, plastics, etc., through 2025. Few of the leading masterbatch manufacturers in the country include Plastiblends, Alok Masterbatches, Poddar Pigments, Ampacet and Blend Colours, among others.
"Continuous efforts of manufacturers to develop innovative products, and enhance performance, product portfolios and efficacy of existing masterbatch technologies is boosting growth in India masterbatch market. Panels and slabs produced using newly discovered technologies are expected to be more cost and energy efficient, have sound mechanical properties and reduce carbon dioxide emissions. This is anticipated to address environmental concerns, and make it a suitable products for construction and other end use industries. Growing focus on technological innovations is anticipated to propel growth in India masterbatch market through 2025", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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