China becomes masterbatch net exporter off all types: report
AMI Plastics published the latest report on the masterbatch market in Asia in which it provides analysis on the masterbatch market in selected Asian countries, market trends and developments, and forecast growth.
Over the last 15 years, masterbatch market has been characterized by strong growth in most markets in Asia and the evolution of new products and market sectors. Within such timeframe, China has held the position as the dominant market of masterbatch in the region, with the highest growth rate in the Asian area.
According to the report, China held dominant position in masterbatch market in Asia.
In the previous decade, the Chinese masterbatch market was on a strong growth, growing an average of 13.8% between 2013 and 2018. Furthermore, China has also become increasingly self-sufficient and is now a net exporter off all masterbatch types.
During the global pandemic period between 2020 and 2022, the Chinese masterbatch industry remained positive despite disruptions to supply chain due to intermittent regional lockdowns.
Production of masterbatch in China will continue to exceed consumption over the forecast period. Demand will continue to grow but in slower pace than the preceding years as economic growth in China slows down. Between 2022 to 2027, the market will grow on average 3.3% annually.
Growth in Chinese market is maintained by the following market drivers:
Strong support from national industrial policies for industry development
Increased market demand for ample development opportunities for the industry
Higher awareness on energy-saving and environmental protection provides opportunities for industry development
Customization and functionality
Increasing demand for high-end black and white masterbatch to replace imports
Broad application prospects
