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The plastic fillers market share is expected to increase by 5571.52 thousand tons from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.78%.
This plastic fillers market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers plastic fillers market segmentation by application (inorganic fillers and organic fillers), type (automotive, electrical and electronics, building and construction, packaging, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The plastic fillers market report also offers information on several market vendors, including BASF SE, Cabot Corp., Calcinor SA, Elementis Plc, Evonik Industries AG, Exxon Mobil Corp., GCR Group, Gustav Grolman GmbH, and Co. KG, Hoffmann Mineral GmbH, Imerys S.A., J M Huber Corp., Lhoist Group, MAHAVEER CERAMIC INDUSTRIES, Minerals Technologies Inc., Omya International AG, Pigmentum s.r.o., Quartz Works GmbH, SCR Sibelco NV, Standridge Color Corp, and Thiele Kaolin Co. among others.
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The stringent environmental regulations are notably driving the plastic fillers market growth, although factors such as concerns related to plastic disposal may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the plastic fillers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Plastic Fillers Market Driver
The stringent environmental regulations is one of the major drivers impacting the plastic fillers market growth. Automotive manufacturers in the US and Europe use lightweight materials to adhere to stringent regulations about vehicular pollution. Automotive vehicles generally emit volatile organic compounds (VOCs) and semi-volatile organic compounds (SVOCs), which are harmful to the environment. Regulatory bodies such as the US Environmental Protection Agency (EPA) have directed automotive OEMs in the US to reduce VOC and SVOC emissions. In China and Europe, there are strict guidelines for controlling VOCs and SVOCs. Lightweight plastics are used as substitutes for metals in automotive parts as they reduce the overall weight of the vehicle and control emissions, along with increasing fuel efficiency. American and European OEMs are improvising automotive interiors to comply with emission standards. Automobile companies use polypropylene composites (both mineral and glass filled) to adhere to standard emissions. Base polypropylenes, additives, and compounding technology must adhere to standard emissions.
Key Plastic Fillers Market Trend
The growing interest in bioplastics is one of the major trends influencing the plastic fillers market growth. Bio-plastics consist of bio-based content, which is biodegradable. Polymers such as polylactic acid (PLA), polyhydroxyalkanoates (PHA), bio poly trimethyl terephthalate (bio PTT), and bio propanediol (bio PDO) are some of the popular bioplastics. These plastics are developed from renewable materials such as biomass and save up to 40% energy during production in comparison to their petrochemical counterparts. Bioplastics play a crucial role in the development of the plastic industry. An increase in environmental awareness, government support and funding, growing vendor interest, and their R&D spending on bioplastics are leading to the increased use of organic fillers in plastics and bioplastics, which will result in the growth of the plastic fillers market during the forecast period.
Key Plastic Fillers Market Challenge
Concerns related to plastic disposal is one of the major challenges impeding the plastic fillers market growth. As most plastics are derived from oil and are non-biodegradable, disposal can be a serious challenge. Unlike organic wastes, plastics do not decompose and last for centuries. Manufacturers and end-users discard various types of plastics, which must be collected, transported, sorted, degreased, and washed. Lack of proper recycling has a severe impact on the environment. Plastics are often used to produce disposable packaging products and several other items, which are discarded in less than a year of manufacture. Globally, these polymers accumulate as waste in landfills and natural habitats because of their exceptional durability. Challenges associated with plastic disposal can reduce the demand for plastic fillers and thereby hamper the growth of the market during the forecast period.
This plastic fillers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global plastic fillers market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the plastic fillers market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the plastic fillers market encompasses successful business strategies deployed by the key vendors. The plastic fillers market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The plastic fillers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the plastic fillers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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56% of the market’s growth will originate from APAC during the forecast period. China is one of the key markets for plastic fillers in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growth in end-use industries such as automotive, manufacturing, industrial, packaging, and others will facilitate the plastic fillers market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The lockdowns and other restrictions in various countries, such as India, China, Japan, Bangladesh, Australia, and Vietnam, were lifted in the second half of 2020 due to the initiation of vaccination programs. The operations in various industries, such as building and construction, automobiles, electronics, and other industries, resumed, which increased the demand for plastic fillers in the second half of 2021. Additionally, with the increasing urbanization and development in the region, industrial and construction activities have also been growing significantly. Thus all these factors will drive the growth of the regional plastic fillers market in APAC during the forecast period.
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The plastic fillers market share growth in the inorganic fillers segment will be significant during the forecast period. Inorganic plastic fillers have been traditionally used because of their easy availability and superior properties. However, the plastic fillers market share growth by the inorganic fillers segment will be slower than the growth of the market by the organic fillers segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the plastic fillers market size and actionable market insights on the post-COVID-19 impact on each segment.
Polymer Fillers market - The market size has the potential to grow by USD 11.70 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 4.13%.
Dermal Facial Fillers market - The market size is expected to grow by USD 1.45 billion, at a CAGR of 9.14%, during 2020-2025.
Plastic Fillers Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.78% |
Market growth 2022-2026 |
5571.52 thousand tons |
Market structure |
Fragmented |
YoY growth (%) |
4.3 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 56% |
Key consumer countries |
US, China, Japan, India, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
BASF SE, Cabot Corp., Calcinor SA, Elementis Plc, Evonik Industries AG, Exxon Mobil Corp., GCR Group, Gustav Grolman GmbH, and Co. KG, Hoffmann Mineral GmbH, Imerys S.A., J M Huber Corp., Lhoist Group, MAHAVEER CERAMIC INDUSTRIES, Minerals Technologies Inc., Omya International AG, Pigmentum s.r.o., Quartz Works GmbH, SCR Sibelco NV, Standridge Color Corp, and Thiele Kaolin Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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