Stratview Research announces the launch of a new research report on Fillers Market in the Composites Industry by Filler Type (Calcium Carbonate, ATH, Talc, Sand, Clay, Microsphere, and Others), by Process Type (Injection Molding, Compression Molding, Hand Lay-Up, Spray-Up, Filament Winding, Pultrusion, and Others), by End-Use Industry Type (Transportation, Electricals & Electronics, Building & Construction, Pipes & Tanks, Consumer Goods, Marine, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s fillers market realities and future possibilities in the composites Industry for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for fillers at the global-, regional-, as well as country-level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Fillers Market in the Composites Industry: Highlights from the Report
In the composites Industry, fillers are widely used in part fabrication to alter the properties of base resin as well as to reduce the production cost and raw material consumption. Composite industry stakeholders have increasingly been relying on the benefits of fillers in a multitude of fabrication processes including injection molding, compression molding, hand-lay, spray-up, filament winding, continuous lamination, and pultrusion, with an aim to reduce their operational cost and deliver specific mechanical properties to the final product. The composites industry occupies a minuscule share of the total fillers consumption but has always been in limelight among fillers market participants.
Impact of COVID-19 on the Fillers Market in the Composites Industry
The outbreak of Covid-19 has shaken the global economy. The composites industry is no exception with the entire supply chain, from raw materials to composite products, witnessing a colossal plunge in demand. The demand for fillers in the composites industry is also experiencing a consequential decline in the year 2020, which is immensely dependent on the health of these industries. For instance, automotive, the biggest market for composite materials, is estimating a production loss of 20.0 million light vehicles in 2020 as compared to the 2019-production figure. Analogously, pipes & tanks, another mammoth consumer of composite materials, is also witnessing a grave impact of the pandemic with the oil & gas industry going through a crisis in the wake of diminished demand and reduced oil price. Building & construction and electrical & electronics industries are recording similar declines in the demand for composite materials.
Despite the weak market scenario in 2020, the long-term outlook of composite fillers still seems positive. The market is expected to rebound from 2021 onwards, assuming the recovery of the transportation industry, resurrection in the construction activities, and the surge in crude oil prices. As a result of that, the fillers market in the composites industry is expected to log a healthy CAGR of 5.6% during the forecast period, reaching an estimated value of US$ 1.7 billion in 2026. Expected increase in the penetration of composite materials in most of the major markets with an aim to address burning issues, such as stringent carbon emission, aesthetics, corrosion resistance, lightweight, and long lifespan, is expected to set the growth path for fillers in years to come.
Click Here and Run Through the TOC of the Report: https://www.stratviewresearch.com/toc/1050/Fillers-market-in-the-composites-industry.html
Based on the filler type, the market is segmented into calcium carbonate, ATH, sand, talc, clay, microsphere, and others. Calcium carbonate is estimated to remain the dominant filler type during the forecast period in terms of volume. Calcium carbonate is widely used as fillers in the fabrication of composite parts for a multitude of markets including transportation, building & construction, and consumer goods, owing to its low cost and modest mechanical properties. ATH holds the second-leading position in the market in terms of volume. ATH is widely used in the electricals & electronics and transportation industries due to its excellent flame-retardant property.
Based on the end-use industry type, transportation industry is expected to maintain its lead in the market over the next five years. Over the years, automakers, tier players, and composite material suppliers have jointly worked together to increase the penetration of composite materials at a competitive cost. In order to reduce the cost, part fabricators are extensively incorporating low-cost fillers, such as calcium carbonate and talc, whereas fillers, such as alumina trihydrate (ATH) and titanium dioxide, are used to impart flame retardancy and UV-resistance property, respectively. The incessantly increasing penetration of composite materials in the transportation industry is reinforcing the demand for fillers in the coming years.
Register Here for a Free Sample of the Detailed Report: https://www.stratviewresearch.com/Request-Sample/1050/Fillers-market-in-the-composites-industry.html
In terms of region, Asia-Pacific is expected to comfortably maintain its leading position in the market during the forecast period. China, Japan, India, and South Korea collectively hold more than 47% share of the global automotive production. The region also holds the dominant position in consumer goods, composite pipes & tanks, and electricals & electronics, leading to a huge demand for composite materials as well as fillers for those applications. Significant economic growth, huge consumer base, growing disposable income of consumers, and changing buying patterns are expected to further consolidate the Asia-Pacific’s position in the global market.
In terms of value, Europe held the leading position and is estimated to maintain its position during the forecast period as well. Greater preference of ATH and titanium-dioxide fillers in European vehicles than low-cost calcium carbonate led to the dominance of the region.
The supply chain of this market comprises raw material suppliers, filler manufacturers, parts fabricators, OEMs, and MRO companies. Key players in the market are Imerys S.A., Huber Engineered Materials, Almatis Gmbh, Omya, Mineral Technologies Inc., The 3M Company, Sibelco, Evonik Industries AG, Albemarle Corporation, and Ashland Global Specialty Chemicals Inc.
Over the years, the industry stakeholders have paid a lot of attention to new application development, strategic alliances, and business expansion. However, recent disruption in the entire supply chain has forced companies to focus on short-term strategies such as alignment of supply with demand and maintaining liquidity to minimize the business risk.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the fillers market in the composites industry and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Fillers Market in the Composites Industry, By Filler Type:
Fillers Market in the Composites Industry, By Process Type:
Fillers Market in the Composites Industry, By End-Use Industry:
Fillers Market in the Composites Industry, By Region:
Stratview Research has several high value market reports in the advanced materials industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
Stratview Research has launched ‘Composights’, an online portal which offers free thought leadership reports, whitepapers, market report synopsis and much more for Composites and allied industries, worth US$ 20,000 every year.
Click here to sign up (No costs involved): https://www.stratviewresearch.com/composights/sign-in
For enquiries, please contact:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176