The global polymer fillers market is projected to expand at a steady 4.5% CAGR during the forecast period, reaching US$ 54.1 Bn by 2032.
Polymer fillers is used in a wide range of applications in the production of various plastic products. When combined with polymers, they reduce the overall weight of the final product while also increasing its strength.
Also, polymer fillers are low-cost products which are extensively used as an alternative to high-cost polymer resins to reduce overall production cost of plastic components. Fillers are used in various polymers such as elastomers, thermoplastics, and thermosets as they have distinct properties that can improve the performance of plastics.
These fillers are being used in various end-use industries such as automotive, building & construction, and others. Demand for lightweight plastics is increasing in the automotive industry, which is promoting the consumption of polymer fillers, which will continue driving the market over the forecast period.
As fillers reduce the overall weight, are less expensive, and add great strength to the material, they are fining applications in the construction sector worldwide. Expansion of the building and construction sector driven by rapid industrialization and urbanization is anticipated to create opportunities for growth in the market.
“Surging demand for inorganic polymer fillers such as salts and calcium carbonate, along with growing adoption in the automotive sector will continue augmenting the growth in the market over the forecast period,” says an FMI analyst.
- Based on product type, the inorganic fillers segment is projected to hold approximately 63.9% of the total market share in 2022.
- In terms of end-use industry, sales in the automotive segment is anticipated to grow at 4.6% CAGR through 2032.
- India will emerge as a lucrative pocket, with demand increasing at a 5% CAGR over the assessment period.
- China will continue dominating the East Asia polymer fillers market, accounting for 61% of the East Asia market share in 2022.
Key players operating in the global polymer fillers market include Imerys, 20 Microns Limited, GCR Group, Minerals Technologies Inc., Quarzwerke GmbH, Hoffman Minerals, Unimin Corporation, Omya AG, Mondo Minerals, LKAB Group, and others.
Leading players are strengthening their positions by expanding their production facilities. Polymer fillers are in high demand across a wide range of end-use industries, including automotive, building and construction, packaging, and industrial products. To meet the growing demand, key players are improving their product portfolios by launching new products in the market.
These insights are based on a report Polymer Fillers Market by Future Market Insights