Filler Masterbatch Market Is Extrapolated To Reach A Value Of USD 521.8 Mn By 2028Posted by rahul nikade on November 3rd, 2022 Filler Masterbatch Industry Overview The global filler masterbatch market size was valued at USD 307.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028. The growth of the market depends on its use in the various end-use industries like construction, packaging, consumer goods, automotive, and agriculture sectors. The global filler masterbatch (calcium carbonate masterbatch) market as considered under the scope of research study includes the consumption of both polyethylene and polypropylene-based filler masterbatch in the form of granules. Its perfectly optimized flow properties allow easy processing making them suitable across various industries such as consumer goods, automotive, and packaging. They are used for improving the processing of plastic products and property modification with a reduction in costs. Gather more insights about the market drivers, restrains and growth of the Global Filler Masterbatch Market Many prominent automotive manufacturers utilize plastics in automotive components to reduce vehicle weight, resulting in improved fuel efficiency. This is driving the demand for different types of plastics blended with filler masterbatch to modify the functional properties. The emerging economies of the Asia Pacific, such as Japan, China, India, and others, have witnessed a rise in automobile production activities, which are further expected to boost the plastic components in the region over the forecast period. The rise in implementation of plastic components in the automobile is expected to drive the market for filler masterbatch in the automotive industry.
Asia Pacific accounted for a significant revenue share of the market in 2020. This is attributed to the growing plastic processing industry, automotive, packaging, consumer goods, and construction industry. The COVID-19 pandemic impacted the manufacturing industries across the globe, which negatively impacted the growth of filler masterbatch due to order cancellations and supply chain disruptions. Increasing concerns regarding environmental pollution caused due to gasoline-powered vehicle emissions and stringent regulations imposed by governments across the globe have assisted in emerging electrically powered vehicles. The rising investments in electric vehicle manufacturing and shifting of major automotive manufacturers towards vehicles electrification are expected to create the filler masterbatch in manufacturing various automotive components. Many filler masterbatch manufacturers are expanding their reach in the African continent due to the lucrative opportunity available in developing construction, packaging, and consumer goods industries in the region. For instance, India-based filler masterbatch manufacturer Merit Polymers opened offices in Uganda and Nigeria in August 2019 and January 2020, respectively, to expand their reach in the filler masterbatch market in Africa. Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports
Filler Masterbatch Market Segmentation Grand View Research has segmented the global filler masterbatch market on the basis of carrier polymer, application, end use, and region: Filler Masterbatch Carrier Polymer Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Filler Masterbatch Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Filler Masterbatch End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Filler Masterbatch Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Market Share Insights
Key Companies profiled: Some of the prominent players in the filler masterbatch market include:
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