In 2021, the market for polymer fillers had a value of $33.4 billion. Sales will increase by 4.5% CAGR to US$34.7 billion in 2022. The market is anticipated to be driven by rising demand for polymer fillers in plastics, which are widely employed in numerous end-use industries. In light of this, the market valuation by 2032 will reach US$ 54.1 Bn.
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.
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“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.
Key Takeaways:
- 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.
Competitive Landscape
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.
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More Insights into the Global Polymer Fillers Market Report
In its latest report, FMI offers an unbiased analysis of the Global Polymer Fillers market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on product type (organic filler & inorganic fillers), application (automotive, building & construction, electronics & electrical, industrial products, packaging, and others) & region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
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