Filler masterbatch is widely used in many applications in Plastic fields such as shopping bags, wrapping films, roll bags, garbage bags, PP woven bag, PP non-woven bag, Injection Molding, Extrusion, HDPE Pipes…
Depending upon the final use of the product the physical properties of the plastics are altered. In order to minimize the utilization of plastics, several types of filler masterbatch are used. These filler masterbatch not only matches up with the volume by reducing the amount of plastic used but also imparts same physical properties to the final product. The plastic filler masterbatch can be categorized by type, physical form, and application.
The global plastic filler masterbatch market was valued at around USD 7,030 million in the year 2016 and it is expected to reach approximately USD 10,061 million by 2025. The global plastic filler market is expected to exhibit a CAGR of more than 4% between 2017 and 2025.
The increasing demand for lightweight materials in the automotive industry is one of the major factors driving the growth of the global plastic filler masterbatch market. Plastic filler masterbatch are used in order to reduce the volume of plastic used in the manufacturing of end-products. The plastic filler masterbatch have properties similar to that of plastic and are used to match the volume. The filler masterbatch when used in proper proportions help in boosting the stiffness and hardness of the final product. Additionally, there is a wide utilization of plastics in the packaging and construction sectors which contributes driving the demand for plastic filler masterbatch in the global market. Another factor that augments the growth of the plastic filler masterbatch market is the flourishing plastic industry in the developing countries.
Growing concerns regarding plastic disposals and regulatory parameters set by the government on the use of the plastics are expected to limit the use of plastic products in the coming years. This is likely to negatively affect the growth of plastic filler masterbatch market over the forecast period.
Depending upon the chemical composition of the plastic filler masterbatch, they are categorized into organic and inorganic plastic filler masterbatch. In the manufacturing of the plastic products, filler masterbatch are used according to the required characteristics of the final product, for instance, hardness, stiffness, and texture. The inorganic plastic filler masterbatch have a huge demand in the global plastic filler market owing to its excellent molding characteristics. Some examples of the inorganic plastic filler masterbatch include hydrous magnesium silicates, calcium carbonate, mica, and calcium metasilicate. The inorganic plastic filler segment is expected to grow with a CAGR of 3.92% over the forecast period. The global inorganic plastic filler masterbatch contributed the highest market share of 71.75% in the year 2016 and this segment is expected to retain its dominant position over the forecast period.
By physical form, the discontinuous segment is expected to dominate the global plastic filler market. The discontinuous plastic filler masterbatch are much more cost effective and readily available owing to which its demand is higher in the global market. These filler masterbatch impart certain mechanical and modulus properties to the products in which they are used. The discontinuous segment contributed the maximum market share of 45.78% in the year 2016. Owing to the rising popularity and increasing demand for the discontinuous filler masterbatch, the segment is likely to grow at the highest CAGR of 4.12% over the forecast period.
By application, packaging makes maximum use of the plastic filler masterbatch thus it is likely that this segment will register the highest CAGR of 4.20% over the forecast period. The packaging application contributed 42.54% of the total market share in 2016.
The Asia Pacific held the maximum market share of 41.26% in the year 2016. Vietnam is a dominating country in Asia Pacific plastic filler masterbatch market owing to the presence of a large number of plastic manufacturing companies in the country. Europe accounted for the second highest market share in the global plastic filler masterbatch market. In 2016, Europe accounted a market share of more than 23%. North America has contributed a market share of over 22% in 2016 and is anticipated to register a CAGR of around 4% over the forecast period. Owing to stringent regulations and restrictions on the use of plastics, the production of the plastic products will decrease in the coming years in the regions of North America and Europe. This will in turn negatively affect the growth of the global plastic filler market over the forecast period.
The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report includes US MASTERBATCH JSC, Europlast, Megaplast, Antien industries, and several others.
The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their product portfolio. In 2020, US MASTERBATCH, fastest growing brand in the production of the plastic concentrates with the mineral filler masterbatch.