The report "Polymer Filler Market by Type (Organic: Natural Fibers, & Inorganic: Oxides, Hydroxides, Salts, Silicates, Metals, and Others), and by End User (Automotive, Building & Construction, Industrial, Packaging, and Others) - Global Forecast to 2020", The global polymer fillers market size is estimated to grow from USD 45.24 Billion in 2015 to USD 53.10 Billion by 2020, at a CAGR of 3.3%. The use of low-density fillers in the automotive industry acts as a driver for the polymer fillers market. High-quality optical properties as well as improved impact strength and ability to replace expensive plastic resins are likely to drive the global polymer fillers market.
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Key content of this market:
The growing popularity of polymer fillers in various types play a significant role in driving the market. Salts, silicates, and oxides are its most important types. The rising demand for low-cost fillers in countries, such as the U.S., Germany, India, and Brazil is expected to increase their demand in the coming years. Stringent environmental regulations and government guidelines have increased the importance of polymer fillers globally in the recent years. The U.S. is focused on increasing investments in the chemical processing sector, which will boost the demand for polymer fillers in the packaging, industrial, and automotive segments.
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The global polymer fillers market is estimated to reach USD 53.10 Billion by 2020, registering a CAGR of 3.3% between 2015 and 2020. The rising demand of organic fillers such as natural fibers, wood flour, and hemp has forced automotive, construction, and packaging industries of various countries to initiate the use of polymer fillers. High-quality optical properties, improved impact strength, and ability to replace expensive plastic resins make it the preferred material for various applications.
Polymer fillers are of various types, such as natural fibers, oxides, hydro-oxides, salts, silicates, metals, and others. In 2014, the salt segment accounted for the largest market share, in terms of volume, followed by oxides. The rising demand for low-cost fillers in countries, such as the U.S., Germany, India, and Brazil, is expected to increase their demand in the coming years. The recent decline in the oil prices has boosted polymer manufacturing and increasing polymer production is driving the global polymer fillers market in the near future. The demand for polymer fillers is estimated to increase with the rise in need for environment-friendly fillers. The use of polymer fillers in emerging applications, such as medical, recreational, and consumer goods are estimated to increase in the future, thus creating growth opportunities in the industry.
The high demand in Asia-Pacific is due to growth in the building & construction and packaging industries in the last few years. The region accounts for largest share in the polymer fillers market globally. North America accounted for the second-largest share in the polymer fillers market in 2014. It is a diversified market for polymers due to the presence of large players in the region. The discovery of new gas reserves is expected to increase the investment in chemical and petrochemical projects in the region. Furthermore, polymer fillers are also used in building & construction projects.
The U.S. is the largest producer of polymer fillers worldwide with the presence of manufacturing sites of major industry players in the country. Most of the big players are backward integrated and have the competitive advantage over other suppliers. Threat of new entrants is high in China, India, and other Asia-Pacific countries because of low cost of raw material and labor coupled with low requirement of technical know-how.
Intersegment fillers replacement is restricting the growth of polymer fillers market. The polymer manufacturers prefer low-cost fillers to high-quality premium fillers. In addition, the fillers can be interchangeably used depending on the requirements of polymers. For example, glass fibers are expensive; hence, calcium carbonate is used as an alternative for manufacturing polymers for the building & construction industry. Thus, the fillers can be replaced with other materials, affecting the overall market growth in terms of value.