Global Polymer Fillers Market Estimated To Be Worth US$54.8 Bln By 2021

Global polymer fillers market estimated to be worth US$54.8 bln by 2021

29-Nov-16

The polymer fillers market accounted for US$45.15 bln in 2015 and is expected to reach US$54.80 bln by 2021, growing at a CAGR of around 3.28% between 2016 and 2021, as per Zion Market Research. Fillers are solid materials added to polymers in order to improve the physical properties such as toughness, strength, and dumping. Polymer fillers are segmented by type as organic and inorganic fillers. Organic fillers are segmented as the natural fiber and carbon fiber. Carbon fiber is expected to grow at the highest rate due to its exceptional strength and eco-friendly nature during the forecast period. Inorganic polymer fillers accounted for significant market share due to their superior properties and easy availability. Inorganic fillers are divided into oxide filler, silicate filler, hydro-oxide, salts filler, metal filler and other fillers. Among all, sales accounted around 58% of global market in 2015 and are expected to grow substantially during the forecast period.

Polymer fillers are segmented on the basis of applications viz. automobile, electrical & electronics, building & construction, industrial, packaging, and others. Building and construction segment accounted for 18% share of the total global polymer fillers market in 2015, due to the high penetration of calcium carbonate salt fillers in the construction applications. The global polymer fillers market is expected to witness significant growth over the forecast period on account of increasing demand from the automobile industry owing to, stringent regulations pertaining to vehicular emission.

In terms of geography, Asia-Pacific was the largest market for polymer fillers in the world due to the increasing demand from automotive and electrical & electronics industries. In terms of revenue, Asia Pacific accounted for 45% of the total polymer fillers market in 2015. Moreover, polymer fillers market has the huge opportunity in the emerging markets of North America due to increased investment in polymer processing sector and is expected to grow demand at regional level during the forecast period. Polymer fillers market is affected by sluggish industrial growth in Europe. It is expected to grow with moderate rate during the forecast period.