WASHINGTON, Jan. 17, 2022 (GLOBE NEWSWIRE) -- The Global Plastic Fillers Market size is expected to reach over USD 15.91 Billion by 2028, exhibiting a CAGR of 5.1% during the forecast period.
Packaging sector is offers huge opportunities for the market for plastic fillers with respect to food production on a large scale and rising need for food packaging. Consume shift for ready to eat and packaged food has grown significantly in the past few years owing to busy and fast-moving life style. Hence, plastic fillers are used in huge amount in the packaging industry, widening the applications of in packaging industries is the key determinant driving the market growth, states Vantage Market Research, in a report, titled “Plastic Fillers Market by Type (Calcium carbonate, Talc, Kaolin, Glass fibers), by Form (Continuous, Discontinuous, Nanofillers), by Application (Automotive, Building & construction, Electrical & electronics, Packaging), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Plastic Fillers Market:
BASF SE (Germany)
The Dow Chemical Company (U.S.)
SAB (Saudi Arabia)
UBE Industries, Inc. (Japan), and INEOS Group AG (Switzerland)
Omya AG (U.S.)
Mineral Technologies Inc. (U.S.)
LKAB minerals (Sweden)
Hoffman minerals (Germany)
Nyco Minerals (S&B) (Luxembourg)
Karntner Montan industrie Gesellschaft m.b.H. (Austria)
Quarzwerke Group (Germany)
Nano biomatters (Spain)
Evonik Industries (Germany)
20 Microns Ltd. (India)
Driver: Easy Handling and Light Weight Properties
Consumers prefer plastic packaging over any other owing to its easy handling and light weight properties which is driving the growth of plastic fillers market. A rise in the segment of working women has also helped the demand for packaged food, hence, stimulating the need for this packaging. Plastic fillers enhance the stiffness, flexural strength, and hardness of plastics that makes them suitable for a packaging material.
Opportunity: Rising Construction Industry
The plastic fillers market will be accelerated by the increasing construction programmes, since, construction sector is one of the key application industries of the product and the rising investments in infrastructure related projects. However, the flat growth of the construction and manufacturing sectors in the peak of COVID-19 period substantially hindered the growth of the market. But, demand is expected to grow for buildings especially, residential in the post-COVID era, with the increasing global population, is expected to compensate for the decline in the market. This is likely to aid the growth of the industry in the forecast period.
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North America is expected to hold a significant share. The region is encountering an increasing number of government subsidies and incentives to promote adoption of EV (electrical vehicles) along with rising technological affordability and innovation.
Plastic fillers for instance, mica and talc are essential for making plastic components of these electric vehicles to decrease weight of the vehicle and provide an optimal cruising range, and that is expected to boost the market value for plastic fillers.
There has been a substantial decline in the lithium-ion batteries prices which must reduce the cost for an electrical vehicle in North America and grow the requirement for plastic fillers market. Moreover, there is growing consumer awareness about the fossil-fuel-powered vehicles and their polluting effects which will further spur the market share for plastic fillers. Plastic fillers find extensive adoption in dampers, high-impact automotive parts, under-the-hood parts, interior trim, dashboard, and body panels.
Discontinuous Fillers to hold a significant share: Discontinuous fillers find extensive usage in the sector of automotive plastics pertaining to their low cost, light weight and excellent material offerings. They allow a manufacture who is producing on a large-scale through injection molding processes and compression. Discontinuous fillers provide greater impact strength, heat & creep resistance, chemical, and rigidity that makes it ideal for pharmaceutical containers & packaging, engineering plastics, household appliances, and medical devices.
Automotive to hold a significant share: Manufacturers in Automotive sector increasingly prefer materials which are lightweight to decrease vehicle weight, and to impart fuel efficiency, and to make sure there’s compliance with strict emission norms which must stimulate the market demand for plastic fillers. Plastic fillers allow the production of high-performance and flexible automotive components without compromising on the standards for safety. There is a significant rise in consumer shift toward sustainability which should facilitate the adoption of plastic fillers as they allow the production of technologically sustainable and sound automotive components on a large scale.
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The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Plastic Fillers Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
Impact Assessment of COVID-19 Pandemic
Middle East & Africa
Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
Long Term Dynamics
Short Term Dynamics
The report on Plastic Fillers Market highlights:
Assessment of the market
COVID Impact Analysis
Historic Data, Estimates and Forecast
Global and Regional Dynamics
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Plastic Fillers Market?
How will the Plastic Fillers Market change in the upcoming six years?
Which application and product will take a lion’s share of the Plastic Fillers Market?
What are the Plastic Fillers market drivers and restrictions?
What will be the CAGR and size of the Plastic Fillers Market throughout the forecast period?
This market titled “Plastic Fillers Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
Market Size in 2021
USD 10.6 Billion
Projected Market Size in 2028
USD 15.91 Billion
CAGR Growth Rate
CAGR of 5.1% from 2022 - 2028
2016 – 2020
2022 – 2028
Type: - Calcium carbonate, Talc, Kaolin, Glass fibers, Carbon black, Others
Quantitative Data - Units
Revenue in USD Million/Billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered
10 companies with scope for including additional 15 companies upon request
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Browse market data Tables and Figures spread through 160 Pages and in-depth TOC on "Plastic Fillers Market by Type (Calcium carbonate, Talc, Kaolin, Glass fibers), by Form (Continuous, Discontinuous, Nanofillers), by Application (Automotive, Building & construction, Electrical & electronics, Packaging), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/plastic-fillers-market-457446
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