Market Trends of Polymer Reinforcing Filler Industry
This section covers the major market trends shaping the Polymer Reinforcing Filler Market according to our research experts:
Building and Construction Segment to Dominate the Market
- Building and construction segment stands to be the dominating segment owing to the continuous development of better and cost-efficient polymer reinforcing filler.
- Beneficial properties improved by the addition of polymer reinforcing filler in a polymer such as rigidity, tensile strength, impact strength, hardness, dimensional instability, and others are likely to propel the growth of polymer reinforcing filler market.
- The building and construction industry is the major consumer of polymer reinforcing filler. With the growing number of building codes supporting energy-efficient buildings, home builders and customers are increasingly turning towards construction approaches that offer long-term efficiency and energy savings.
- Calcium carbonate is the most widely used inorganic filler in the construction and automotive industry. It is available at low cost in a variety of particle sizes and treatments. Most common grades of calcium carbonate filler are derived from limestone or marble.
- From the above-mentioned factors, the demand for polymer reinforcing fillers from the building and construction industry is expected to rapidly grow over the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific has seen substantial growth in the demand for polymer reinforcing filler in the recent past, especially from countries such as China, South Korea, and India.
- In the Asia-Pacific region, the production of paints and coatings is growing due to the rising demand from the industrial and infrastructural sectors.
- The building and construction industry in Asia-Pacific is projected to record a CAGR of more than 7.4% to reach USD 6000 billion by 2025.
- In Asia-Pacific, China is expected to witness the highest growth in the construction activities, followed by India. In China, government spending on constructing affordable housing facilities has been increasing to cater to the housing demand. Furthermore, the public-private partnership (PPP) projects have also been increasing in the domestic construction sector.
- Overall, powered with the aforementioned scenario, the market for polymer reinforcing filler is projected to increase at a high rate during the forecast period.
- However, the slowdown in the automotive industry has been affecting the growth of demand for polymer reinforcing filler market during the forecast period.
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