Home > Pressrelease > Plastic Fillers Market size worth over $14.5 billion by 2026
Plastic Fillers Market size worth over $14.5 billion by 2026
- Published Date: March 23, 2020
According to a new research report by Global Market Insights Inc., the plastic fillers market size is set to surpass $14.5 Billion by 2026. Increasing demand plastic packaging should increase the product consumption during the forecast period.
Significant expansion of the manufacturing sector primarily in emerging nations such as China, India and Mexico owing to rising industrialization should boost the plastic fillers market growth. Moreover, the manufacturing sector is witnessing significant productivity gains owing to the adoption of various advanced technologies such as internet of things, artificial intelligence, and machine learning.
Plastic fillers offer superior electrical and physical properties to plastic components which makes them ideal substitutes for conventional industrial materials such as metal & glass.
Plastic fillers impart stiffness and hardness to plastic apart from reducing the consumption of the base polymer which ensures cost reduction. Manufacturers are increasingly developing innovative filler materials with improved mechanical and thermal properties which boost plastic fillers market. For instance, Imerys offers New Generation 3G Talcs which has been produced by a unique delaminating process and enhances stiffness in plastics.
Glass fibers to account for significant share
Glass fibers are extremely fine fibers of glass with beneficial properties such as flexibility, electrical conductivity, and high tensile strength which make them ideal for plastic reinforcement. According to market analysis, glass fibers reinforced plastic (GFRP) demand may surpass USD 4.25 billion by 2026 owing to its growing adoption in automotive components.
The product is ideal for engine intake manifolds owing to its ability to reduce weight by 60%, reduce the number of components required, and improve aerodynamics.
There is substantial expansion of the construction & infrastructure sector on account of favorable government initiatives, rising population, and growing urbanization which should stimulate the plastic fillers market demand. GFRP is extensively used for the thermal insulation of aluminum facades, doors and windows. The product serves as an ideal substitute for steel reinforcement in construction sector pertaining to its light weight, corrosion resistance, and high service life.
“As per industry forecasts, glass fibers will rise over 4.5% at the end of 2026 owing to growing demand for construction reinforcement”.
Browse key industry insights spread across 165 pages with 290 market data tables and 23 figures & charts from the report, “Plastic Fillers Market Size By Type (Calcium Carbonate [Ground, Precipitated], Talc, Kaolin, Glass Fibers, Carbon Black), By Form (Continuous, Discontinuous, Nanofillers), By Application (Automotive, Building & Construction, Electrical & Electronics, Packaging), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing consumption of continuous form owing to cost savings to spur the global market size
According to plastic fillers market analysis, continuous form is anticipated to witness significant gains over 4.5% through 2026. Continuous fillers primarily include organic materials such as hemp, cotton fibers, nutshell powders, carbon fiber, carbon black, rice husk and wood powder added to enhance the properties of the base resins in plastics. They offer various benefits such as low cost, ease of processing and low density.
Continuous fillers are ideal for producing various automotive plastics used in car roofs, dashboards, interior panels, front end carriers and electrical harnesses. These fillers are also well-suited for the production of plastics and wood-plastic composites for the construction sector owing to their ability to reduce construction cost.
“As per the analysis, continuous plastic fillers segment is forecasted to grow over 5.5% through 2026 owing to growing demand for cost-effective construction materials.”
Increasing consumption of packaged food to spur global plastic fillers market size from packaging application
According to market analysis, packaging application should witness significant gains of about 5% through 2026. Rising consumer disposable incomes and increasing consumer preference for convenient packaging should boost product demand. Shifting consumer preferences towards packaged food products from traditional methods of cooking food at home is anticipated to accelerate plastic fillers market growth.
These products play a vital role in developing flexible & durable plastic packaging which ensures that package contents stay fresh for a long duration and during transportation.
“As per the analysis, packaging application segment is estimated to grow over 5.0% through 2026 owing to growing demand for packaged food products.”
Growing preference for lightweight automotive materials will foster product demand in Europe
Increasing concerns for passenger safety has boosted the demand for seatbelts & airbags and is likely to trigger plastic fillers market growth in Europe. Regional market size surpassed USD 2.65 billion in 2019. The products are ideal for the manufacture of dashboards, front bumpers, driveshafts and dashboards which absorb the energy of impact and protects vehicle occupants.
The region has registered increasing focus on reducing vehicle weight, emissions and reducing engine noise which should further stimulate the plastic fillers market trends. Europe automotive industry is subject to the progressive introduction of increasingly stringent emission norms which has boosted the requirement for high performance plastics to substitute conventional automotive materials such as steel which should augment product demand.
The leading market participants in plastic fillers industry are Mineral Technologies Inc., Imerys, LKAB Group, Hoffman Minerals, Omya AG, and Huber Engineered Materials. Various market players are engaged in implementing strategic initiatives such as product launches and technological advancements to achieve growth.
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