Masterbatch manufacturer around the world has been suffered the exhaustion in finding cheap and available material resources. The reduction in crude oil reserve due to overexploitation has placed the pressure on various masterbatch manufacturer’s shoulders, especially small and medium businesses. In the circumstance, recycled plastic is expected to be alternative that promisingly being effective in solving this problem.
The plastics industry is considered to be one of the most dynamic and fastest growing industries in India and the world market. In the past 10 years, the growth rate of this industry has been 15-20%, but 80% of the raw materials of masterbatch manufacturers have to be imported. Domestic factories currently produce 780,000 tons of plastic annually. In the past five years, the demand for imported plastic raw materials in the masterbatch industry has steadily increased. In 2017, it reached 13.5% of the quantity and 16% of the value.
Masterbatch manufacturers hope to get government support –
The development of the recycling industry, updating fashion trends, and adopting modern advanced technologies are the foundation for the future development of the plastics industry. In this way, we can not only protect the great value provided by the environment, but also obtain economic benefits. The masterbatch manufacturer hopes that in the near future, the government will issue a policy that encourages and prioritizes the issuance of licenses for companies and projects that use or provide modern and advanced technologies with the aim of widely adopting these technologies, usually in the plastics industry. Can grow faster.