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Polymer Fillers Market Growing at a CAGR of 3.28% between 2016 and 2021

Press Release   •   Jan 22, 2018 07:02 EST

According to the report, the polymer fillers market accounted for USD 45.15 Billion in 2015 and is expected to reach USD 54.80 Billion by 2021, growing at a CAGR of around 3.28% between 2016 and 2021.

Fillers are defined as particulate materials that are added to a polymer in order to improve the physical properties. Fillers are also used in the polymer to lower the compound cost or to improve the mechanical properties. Fillers added properties such as mechanical strength, damping, toughness and increases thermal & dielectric capacities of the polymers. Fillers are available in solid, liquid and gas. Solid fillers have good demand in the market. Fillers are classified as inert and reinforcing fillers. Inert fillers increased the hardness and stiffness of plastic/polymers. Reinforcement fillers are used to improve the heat resistance of a polymer.

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Polymer fillers have two types, one is organic fillers and another is inorganic fillers. Organic fillers include natural fiber and carbon filler. Inorganic fillers include oxide filler, silicate filler, hydro-oxide, salts filler, metal filler and other fillers. Inorganic fillers are derived from mines. Raw material availability for inorganic filler is directly depending on the mining industry. Inorganic fillers were the largest type segment, accounting for more than 76.86% share of the global polymer fillers market in 2015. However, organic fillers are expected to grow with CAGR 5.1% during next five years. Increasing demand for organic fillers on account of its eco-friendly nature is expected to grow the market growth.

On the basis of applications, polymer fillers are used in automobile, electrical & electronics, building & construction, industrial, packaging and other applications. Automobile segment has been dominating the polymer fillers market in the past five years. It is expected to grow at a CAGR of 5.7% during the forecast period. Electrical & electronics accounted for the second-largest share of the polymer filler market in 2015. It accounted more than 18% of global polymer fillers market. Packaging by using polymer fillers is allowed content to remain fresh for a longer period during transportation. This will remain the key factor to drive packaging industry in next five years.

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Asia Pacific was the dominant regional segment of the polymer fillers market in 2015. It accounted more than 45% of the global polymer fillers market in 2015. This trend is expected to continue between the 2016 and 2021. Increasing demand in automotive, construction, as well as packaging industry, is expected to help augment the regional demand. Europe and North America are projected to exhibit the significant increase in demand for polymer fillers in the year to come. Increasing demand for lightweight polymer composites in the U.S. is expected to grow the North American market.

Key players in the market include Lkab Group, Hoffmann Minerals, Quarzwerke Group, Imerys S.A., 20 Micron Limited, Unimin Corporation, GCR Group, Karntner Montanindustrie Gesellschaft M.B.H., OMYA AG.

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