LONDON–(BUSINESS WIRE)–The global plastic fillers market size is poised to grow by 4.75 million MT during 2020-2024, progressing at a CAGR of over 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The demand for plastic is increasing in developing economies such as India and China. This is owing to factors such as the rise in building construction and the use of lightweight plastic in the automotive and packaging industries. In the construction industry, plastics are used in several applications such as foundations, roofing, pipes and fittings, flooring, paneling, and roads. Moreover, the large population and high GDP rate in emerging economies in APAC are contributing to the rapid plastic market growth. Therefore, the increase in demand for plastic in APAC will drive growth in the plastic fillers market.
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Report Highlights:
- The major plastic fillers market growth came from the inorganic plastic fillers segment. Inorganic plastic fillers have been traditionally used because of their easy availability and superior properties. Mineral-based fillers, synthetic fillers, and specialty fillers are some of the major inorganic plastic fillers, which are widely used in building and construction, automotive plastic components, plastic packaging materials, and other applications. 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.
- APAC was the largest plastic fillers market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growth in end-use industries such as automotive, manufacturing, industrial, packaging, and others will significantly drive plastic fillers market growth in this region over the forecast period.
- The global plastic fillers market is fragmented. BASF SE, Cabot Corp., Evonik Industries AG, Exxon Mobil Corp., GCCP Resources Ltd., Imerys SA, J M Huber Corp., Luossavaara-Kiirunavaara AB, Minerals Technologies Inc., and Omya International AG are some of the major market participants. To help clients improve their market position, these plastic fillers market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global plastic fillers market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Rising Demand for Lightweight Automotive Materials will be a Key Market Trend
Stringent environmental regulations are prompting auto manufacturers to produce lightweight, fuel-efficient, and environment-friendly automobiles. Plastic fillers are used for manufacturing lightweight automotive parts, which reduce the overall vehicle weight, fuel consumption, and greenhouse gas emissions. Plastic fillers are used for manufacturing automotive electric and electronic components such as sensors, plugs and connectors, electrical control units, and lamp sockets. The increasing vehicle production in APAC will drive the use of plastic fillers during the forecast period, which, in turn, will contribute to the plastic fillers market growth during the forecast period.
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Plastic Fillers Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist plastic fillers market growth during the next five years
- Estimation of the plastic fillers market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the plastic fillers market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of plastic fillers market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Automotive – Market size and forecast 2019-2024
- Electrical and electronics – Market size and forecast 2019-2024
- Building and construction – Market size and forecast 2019-2024
- Packaging – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Type
- Market segments
- Comparison by Type
- Inorganic fillers – Market size and forecast 2019-2024
- Organic fillers – Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver-Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- BASF SE
- Cabot Corp.
- Evonik Industries AG
- Exxon Mobil Corp.
- GCCP Resources Ltd.
- Imerys SA
- J M Huber Corp.
- Luossavaara-Kiirunavaara AB
- Minerals Technologies Inc.
- Omya International AG
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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