Plastic Fillers Market
Plastic Fillers Market - Global Industry Assessment & Forecast
- By Type Calcium carbonate, Talc, Kaolin, Glass fibers, Carbon black, Others
- By Form Continuous, Discontinuous, Nanofillers
- By Application Automotive, Building & construction, Electrical & electronics, Packaging, Others
- By Regions North America, Europe, Asia Pacific, Middle East & Africa, South America
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 10.60 billion|
|Revenue 2028:||USD 15.91 billion|
|Revenue CAGR (2022 - 2028):||5.1%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||Asia Pacific|
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Plastic Fillers Market: By Type, Physical Form, and Region
Global Plastic Fillers market is projected to attain a value of USD 15.91 billion by 2028 from USD 10.60 billion in 2021 at a CAGR of 5.1% during the forecast period. Demand for Plastic Fillers used in all types of uses is very high. Many engineering companies are producing goods that contain these types of Plastic Fillers. Although the use of plastics has become widely popular, the production of plastics has not increased to meet this demand. The high demand was due to an increase in manufacturing processes and use of new materials which require plastic filler to give better.
Plastic Fillers Market Size, 2021 To 2028 (USD billion)
Plastic Fillers Market is fragmented into Type(Calcium carbonate, Talc, Kaolin, Glass fibers, Carbon black, Others),Form(Continuous, Discontinuous, Nanofillers),Application(Automotive, Building & construction, Electrical & electronics, Packaging, Others),Regions(North America, Europe, Asia Pacific, Middle East & Africa, South America). On the basis of type, the market is segmented into calcium carbonate, talc, kaolin, glass fibers, carbon black and others. On the basis of form, the Plastic Fillers market is segmented into continuous fillers, discontinuous fillers, and nanofillers. On the basis of application, Plastic Fillers market is segmented into automotive, building & construction, electrical & electronics, packaging, and others.
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Demand for Plastic Fillers to Remain Strong During the Forecast Period
Demand for Plastic Fillers is expected to remain strong during the forecast period. The automotive an packaging industry will continue to lead the use of this product throughout the forecast period. Although there have been environmental concerns about using plastics, its wide use was not expected to decline by significant amounts over the forecast period. There is also high growth expected in other applications such as building and construction, pharmaceuticals where plastic filler would be needed than ever before.
Availability of Alternatives to Hamper Plastic Fillers Market
Plastic Fillers are being used in more and more applications of any type of goods. Plastic filler demand is expected to rise over the forecast period because of new products that require Plastic Fillers. In some cases, plastics have been replaced by other materials such as glass or metal products which can be prohibitively expensive products for manufacturers. The price has been a constant source of concern from consumers who had been forced to bear higher costs during these periods. This increase is due to the growing production industry and the use of newer types of materials using Plastic Fillers. Use in some countries is restricted due to environmental concerns about plastic usage but it was not expected that there would be a significant decline in its usage over the next five years. There is also growth expected in other applications such as construction, pharmaceuticals where plastic filler would be needed than ever before.
By Type, Demand for Plastic Nano Fillers to Remain Strong
There are different types of fillers used for different purposes in polymers such as glass fiber which is strong, stiff and lightweight but very bulky when compared with plastic made from it, talc-like powder helps reduce flow during processing but also reduces stiffness, mica can be expensive but helps increase toughness and strength and also lowers friction, calcium carbonate - good thermal insulator but expensive.
Polymer nanocomposites have received a lot of attention over the past few years because they combine the favorable properties of both components in an improved way to produce enhanced materials with completely new properties. In most cases adding nanoparticles to polymers increases the stiffness and decreases their density so it is easier for companies to meet government's rules about transportation safety, which includes lower weight of a vehicle thus less fuel consumption. It has been estimated that reduction in weight can be as high as 30-40%.
Asia Pacific to Dominate the Plastic Fillers Market
Asia Pacific is the largest consumer of Plastic Fillers as it uses over 5.5 million tones daily, which is half of the world's consumption. China, India, Indonesia, and the Philippines were among Asia's leading users of Plastic Fillers. China uses 3.7 million tons of Plastic Fillers, which is about 47 percent of the total consumption in Asia Pacific. China has over 2,000 plastics manufacturers producing 4.3 billion pounds (1.9 million tons) each year with annual growth rate of 9 percent. Production is expected to rise between 15 and 25 percent per annum due to the strong demand for products related to packaging and consumer goods. About 30% of China's plastic bags are exported to other countries.
The plastic filler market is highly competitive with a number of established players including BASF SE (Germany), The Dow Chemical Company (U.S.), SAB (Saudi Arabia), UBE Industries, Inc. (Japan), and INEOS Group AG (Switzerland). Imerys (Paris), Omya AG (U.S.), Mineral Technologies Inc. (U.S.), LKAB minerals (Sweden), and Hoffman minerals (Germany), Granic (Spain), Nyco Minerals (S&B) (Luxembourg), Kärntner Montanindustrie Gesellschaft m.b.H. (Austria), Quarzwerke Group (Germany), Nanobiomatters (Spain), Unimin (U.S.), Evonik Industries (Germany), and 20 Microns Ltd. (India).
The Plastic Fillers is Segmented as Follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
The global Plastic Fillers valued at USD 10.60 billion in 2020 and is expected to reach USD 15.91 billion in 2028 growing at a CAGR of 5.1%.
The prominent players in the market are BASF SE (Germany), The Dow Chemical Company (U.S.), SAB (Saudi Arabia), UBE Industries, Inc. (Japan), and INEOS Group AG (Switzerland). Imerys (Paris), Omya AG (U.S.), Mineral Technologies Inc. (U.S.), LKAB minerals (Sweden), and Hoffman minerals (Germany), Granic (Spain), Nyco Minerals (S&B) (Luxembourg), Kärntner Montanindustrie Gesellschaft m.b.H. (Austria), Quarzwerke Group (Germany), Nanobiomatters (Spain), Unimin (U.S.), Evonik Industries (Germany), and 20 Microns Ltd. (India)..
The market is project to grow at a CAGR of 5.1% between 2021 and 2028.
The driving factors of the Plastic Fillers include
- Rising Demand of Plastic across Various Industry to Drive the Market Growth
Asia Pacific was the leading regional segment of the Plastic Fillers in 2020.