Polymer Fillers Market 2023 | Share, Industry Growth, Price, Demand and Global Forecast to 2030
The polymer fillers market is expected to register a CAGR of over 3.1% to reach around USD 61 billion by the end of 2030
The most identifiable market driving factor for the Polymer Fillers Market is the widespread use of polymer fillers in the automotive and construction industries. The construction of many interiors and exterior automobile applications use polymer fillers due to flexural modulus and heat resistance. The demand for polymer filler is increasing due to plastic consumption in automobiles as plastic has lightweight properties. The increasing demand, as well as preference for organic fillers over inorganic filler, is also making the market shine. Organic fillers are being preferred due to easy availability, low cost, and no environmental constraints. Other factors supporting the market growth include innovations in polymer filler and surge in demand for low-cost and high-strength materials.
Market Segmentation
The global polymer fillers market segmentation encompasses application and type.
Application-based segmentation includes automotive application, building & construction, electrical & electronics, industrial application, packaging application, and others. Among these segments, the building & construction sector has been predicted to dominate the market as calcium carbonate fillers are popular in the construction sector. However, the automotive sector can be the fastest-growing market segment due to the increased demand for high strength low weight material in this sector.
By type, the market projects organic fillers and inorganic fillers as segments of the global market. The organic fillers have been sub-segmented into carbon, natural fibers, and others. The inorganic fillers have been sub-segmented into hydro-oxides, metals, oxides, salts, silicates, and others.
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Regional Segmentation
A geographical outlining of the global polymer fillers market covers Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa (MEA).
The Asia Pacific region is the largest as well as the fastest-growing regional market. In this region, the market is growing due to the increasing consumption of nano-filler for polymers and high demand for lightweight plastic products in the automotive sector. Rapid industrialization, as well as urbanization of China and India, is resulting in the growth of the automotive sector, along with the building & construction sector. Both sectors use polymer fillers Industry Insights. The growing electrical & electronics sector in this region with increased spending on consumer appliances is also boosting the market growth. Other important markets in this region are Indonesia, Japan, Malaysia, and Thailand. In this report, Australia and New Zealand have been categorized as one segment.
During the forecast period, North America is expected to occupy the second-largest share in the global market due to rising investment in the polymer processing sector. Other factors ensuring market growth in North America include the accelerating demand for carbon composites from the automotive sector and the increasing environmental regulation by the governments (especially the US Government). Many important market players are also based in the USA. After the USA, the maximum revenue to the market comes from Canada.
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Europe can be a prominent market during the forecast period due to the increasing use of polymer fillers in the automotive industry, mainly in Germany that has a strong automotive industry. Other factors pushing the market growth in this region include the expanding automotive industry, increased production of energy-efficient vehicles to curb carbon emission, expanding the packaging industry, and the increased use of packaged beverages as well as food products. Other countries that generate maximum revenue for the European market are France, Italy, Poland, Russia, Spain, and the UK.
The market in Latin America and the MEA region can grow substantially due to the surging end use industries like construction, automotive, and packaging. In Latin America, the most important markets are Argentina, Brazil, and Mexico. An estimation of the remaining countries in Latin America listed in this report foresees a decent contribution to market revenue from many other countries. In the MEA region, the most important markets are Bahrain, Kuwait, Israel, North Africa, Oman, Qatar, Saudi Arabia, and Turkey.
Key Players
Big players in the global polymer fillers market are Amco Polymers (USA), Covia Holdings Corporation (USA), GCR Group (Spain), Imerys SA (France), Hoffmann Mineral GmbH (Germany), Kärntner Montanindustrie (Austria), LKAB Minerals (Sweden), Minerals Technologies Inc. (USA), Omya AG (Switzerland), Orkila (Lebanon), and Quarzwerke GmbH (Austria).
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