Plastic fillers market is projected to witness exponential growth owing to the extensive usage of the product across several prominent sectors such as packaging, automotive, construction, electrical & electronics. Fillers are added to a polymer formulations in order to lessen the costs and enhance the properties. Fillers can be either liquid, gas or solid. They can substitute for expensive resin to occupy space with less expensive compounds without the need for altering other characteristics.
The properties offered by fillers are to a great extent determined by its own chemical as well as physical properties. Various types of fillers that are used in plastics includes calcium carbonate, kaolin clay, talc, and alumina trihydrate. Silica and carbon black are primarily used as fillers in elastomers.
Functional fillers are extensively used in plastics and their use is driven by various factors. Fillers permit for plastic materials that have a broader range of properties, which includes properties which are not linked with plastics, like thermal conductivity or electrical conductivity.
These fillers can be utilized to strengthen plastics, for instance, glass fiber and talc have permitted polypropylene to complete effectively in the market for engineering polymers. Almost all plastics are produced using petroleum feedstock with the cost of plastics inexorably rises as oil & gas reserves declines.
The plastic fillers market is segmented in terms of type, form, application, and regional landscape.
With respect to type, the market is bifurcated into calcium carbonate, talc, carbon black, glass fibers, kaolin, and others. The others segment includes mica, wollastonite, titanium dioxide, and natural fibers. The segment held a share of around 8% in 2019 and is likely to show appreciable growth.
Based on form, the market is categorized into nanofillers, continuous, and discontinuous. Among these, nanofillers form segment will witness more than 5% CAGR over the coming years. Nanofillers form is understood to be additives in solid form which are different from the polymer matrix in terms of their structure and composition. Nanofillers comprise inorganic materials, as well as rarely organic materials. Inactive extenders or fillers increase the quantity as well as lower the prices.
Based on application, the market is classified into packaging, automotive, building & construction, electrical & electronics, and others. Among these, the electrical & electronics application segment share will grow at over 5.5% CAGR over the coming years.
The others application segment includes textiles, consumer products, and industrial applications. This segment holds share of over 24.5% and is expected to register continuous growth during the analysis timeframe.
From a regional frame of reference, the LATAM plastic filler market held a share of over 4% in the overall market. Increasing construction activities and booming chemical sector in the Middle East & Africa region will foster product demand with the region projected to witness around 6% CAGR.