The market for polymer reinforcing filler is expected to grow at a CAGR of more than 5.2% globally during the forecast period. Polymer reinforcing fillers are added to a polymer formulation to reduce the costs and improve the properties. Fillers can be either solid, liquid, or gas. They occupy space and replace the expensive resin with less expensive compounds without modifying other characteristics. The growing demand from the building and construction industry has been driving the market growth.
– However, the outbreak of coronavirus across the globe is likely to hinder the growth of the studied market.
– The growing demand for organic polymer reinforcing fillers like cellulose, wood, etc. owing to its eco-friendly nature is likely to provide opportunities for the studied market, during the forecast period.
– Asia-Pacific region dominated across the world with increasing consumption from countries like China and India.
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Key Market Trends
Building and Construction Segment to Dominate the Market
– Building and construction segment stands to be the dominating segment owing to the continuous development of better and cost-efficient polymer reinforcing filler.
– Beneficial properties improved by the addition of polymer reinforcing filler in a polymer such as rigidity, tensile strength, impact strength, hardness, dimensional instability, and others are likely to propel the growth of polymer reinforcing filler market.
– The building and construction industry is the major consumer of polymer reinforcing filler. With the growing number of building codes supporting energy-efficient buildings, home builders and customers are increasingly turning towards construction approaches that offer long-term efficiency and energy savings.
– Calcium carbonate is the most widely used inorganic filler in the construction and automotive industry. It is available at low cost in a variety of particle sizes and treatments. Most common grades of calcium carbonate filler are derived from limestone or marble.
– From the above-mentioned factors, the demand for polymer reinforcing fillers from the building and construction industry is expected to rapidly grow over the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific has seen substantial growth in the demand for polymer reinforcing filler in the recent past, especially from countries such as China, South Korea, and India.
– In the Asia-Pacific region, the production of paints and coatings is growing due to the rising demand from the industrial and infrastructural sectors.
– The building and construction industry in Asia-Pacific is projected to record a CAGR of more than 7.4% to reach USD 6000 billion by 2025.
– In Asia-Pacific, China is expected to witness the highest growth in the construction activities, followed by India. In China, government spending on constructing affordable housing facilities has been increasing to cater to the housing demand. Furthermore, the public-private partnership (PPP) projects have also been increasing in the domestic construction sector.
– Overall, powered with the aforementioned scenario, the market for polymer reinforcing filler is projected to increase at a high rate during the forecast period.
– However, the slowdown in the automotive industry has been affecting the growth of demand for polymer reinforcing filler market during the forecast period.
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