Polymer Fillers Market Size Synopsis
Market Research Future (MRFR) speculates that the global Polymer Fillers Market Size is predicted to demonstrate a robust CAGR during the forecast period (2016-2022). Increasing demand for high-strength materials in the automotive industry is anticipated to favor the market growth. Polymer fillers are referred to as materials added to base materials like paper, rubbers, concrete, and plastics in order to enhance their reinforcement attributes. Polymer fillers help to reduce the overall cost of the product besides minimizing the consumption of the binder material and improving the properties of the polymer. They are used to increase the density, reduce the cost of the material, and improve the thermal conductivity.
The prominent players operating the global Polymer Fillers Market Size are LKAB Group, Unimin Corporation, 20 Micron Limited, Minerals Technologies, Hoffman Minerals, Quarzwerke Group, Omya AG, GCR Group, and Imerys S.A.
Market Potential and Pitfalls
Polymer filler Industry has the ability to replace expensive plastic resins, which makes it a popular material for several applications. They offer development opportunities to industries like newer materials which improves the molding properties. The rising demand for lightweight and high strength materials in the industrial and automotive sector coupled with its eco-friendly nature is anticipated to trigger the demand for polymer filler industry across the globe. Moreover, the low cost and abundant availability of natural fillers are some of the other factors considered to propel the market growth throughout the appraisal period. With the augmenting demand for low-cost fillers in economies such as Germany, the U.S., Brazil, and India, the market for polymer filler is predicted to boost in the coming years. Strict government mandates along with environmental regulations have augmented the importance of polymer fillers across the globe.
With the growing demand for low-cost and high strength materials coupled with innovations in polymer filler are some of the major factors considered to favor the market growth to a large extent. Moreover, the augmenting demand for organic fillers due to its eco-friendly nature is likely to contribute to the growth of the market. The high availability of natural fibers like wood and cellulose at a lower cost is estimated to be responsible for the growing demand.
On the contrary, organic fillers are generally derived from mines, which is predicted to adversely affect the environment, thereby vitiating the market growth to a certain extent.
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Global Polymer Fillers Market Size: Segmental Analysis
The global Polymer Fillers Market Size has been segmented on the basis of product and application.
By mode of product, the global Polymer Fillers Market Size has been segmented into salts, natural fibers, hydroxides, oxides, and others.
By mode of application, the global Polymer Fillers Market Size has been segmented into building & construction, automotive, industrial products, and packaging. Among these, the building & construction sector is predicted to dominate the global market owing to the high penetration due to the popularity of calcium carbonate fillers in the construction sector. On the other hand, the automotive sector is expected to witness the highest growth rate owing to the increased demand for high strength low weight material in this sector.
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Geographically, the Polymer Fillers Market Size span across regions namely, Europe, Asia Pacific, North America, and the Rest-of-the-World (RoW).
Among all the regions, the Asia Pacific region is considered to be the fastest growing region for polymer filler and leads the global market. The growth in this region is credited to the high demand for lightweight plastic products in the automotive sector coupled with the increasing consumption of nano-filler for polymers. Moreover, rapid industrialization in Chinese and Indian markets are estimated to influence the Polymer Fillers Market Size.
The North American region is predicted to occupy the second-largest position in the global market owing to the increased investment in the polymer processing sector. Moreover, the accelerating demand for carbon composites from the automotive sector is estimated to create new opportunities for the market players in this region.
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