The global plastic filler market size is predicted to reach US$521.8 million by 2028. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028.
The market is anticipated to grow well due to the use of sub-masterbatch to provide color variations and impart other properties to plastic materials used in automobiles, packaging, buildings and constructions. and the global consumer goods industry. Calcium carbonate is often used as a filler in the plastic industry to help reduce the pressure of melting plastic when shaping plastic into product forms.
Calcium carbonate is a filler masterbatch material that serves as a relatively good stabilizer to improve the bubbling ability during resin production to achieve a smooth and beautiful surface. Filler masterbatch helps manufacturers in various industries reduce production costs and helps to increase strength, hardness, impact resistance and adhesive properties along with improving surface opacity and gloss. end product side. It is used in combination with a wide variety of plastics ranging from thermoplastics, thermoplastics and rigid plastics.
The building and construction industry has seen growth in recent years due to the growing population and increased urbanization resulting in increased employment opportunities and better living conditions. Polyethylene and polypropylene are some of the most widely produced plastics in the world. Polypropylene is used for a wide variety of plastic building material products that require fatigue and heat resistance. Some common applications include piping systems, electrical cable insulation, plastic machine parts, and carpeting. The use of polypropylene in the production of building materials is expected to drive the market for polypropylene-bearing polymers in additive masterbatch.
Key players are undertaking strategic initiatives such as mergers and acquisitions to strengthen their position in the market. For instance, in July 2020, the PolyOne Group fully acquired the masterbatch business of Clariant, a Swiss multinational specialty chemicals company, for $1.56 billion and was renamed Avient. This acquisition is expected to give PolyOne Corporation complete control of the Clariant Masterbatch business which includes 46 manufacturing operations and technology hubs in 29 countries.
Several masterbatch manufacturers are undertaking various expansion plans by establishing new production facilities to meet the growing demand for plastics requirements in the automotive, packaging and consumer industries. consumption. For example, in March 2021, JJ Plastalloy announced the opening of a new production facility in Gujarat to supply resins and compounds for thermoplastic products.
Filler Masterbatch Market Report Highlights
- The market is valued at $307.0 million in 2020 and is estimated to grow at a CAGR of 7.0% from 2021 to 2028
- The film and sheet segment is expected to see a peak CAGR of 7.5% during the forecast period in terms of revenue. The significant CAGR is due to the growing demand for packaging films in the food and consumer goods industry
- The injection molding and blow molding applications segment dominate the market and account for more than 50.0% revenue share in 2020. This high share is due to the increasing use of polyethylene and polypropylene as polymer carriers in applications. used for injection molding and blowing for the manufacture of consumer goods such as water and soda, shampoo bottles, hair combs, bottle caps and other products
- There is a growing demand for plastic as a metal substitute in end-use industries including automotive due to various advantages such as reduced vehicle weight, cost and expected production time. will boost the masterbatch market
- Asia Pacific accounts for more than 50.0% revenue share in 2020 and is expected to grow at a CAGR of 7.2% during the forecast period
For more information on this report, visit https://www.researchandmarkets.com/r/9gsz24