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Microplastic Fillers Market worth $3.7 billion by 2029 - Exclusive Report by MarketsandMarkets™


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MarketsandMarkets

08 Aug, 2024, 10:30 GMT

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CHICAGO, Aug. 8, 2024 /PRNewswire/ -- The report "Microplastic Fillers Market by Type (Polyurethane, Polyethylene), Function (Rheology Modification, Fillers), Form (Powder, Fiber) End-Use Industry (Packaging, Cosmetics & Personal Care, Construction Materials), Region - Global Forecast to 2029", is projected to be USD 3.7 billion by 2029 from an estimated USD 3.2 billion in 2024, at a CAGR of 3.4% during the forecast period. The microplastic fillers market is driven by several key factors, including increasing global focus on sustainability, technological advancements, expanding applications, economic incentives, and growth in demand are the global trend towards lightweighting, most notably in the automotive and aerospace sectors.

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Packaging, by end-use, is expected to be the most significant Microplastic fillers Market segment during the forecast period.

Key factors are driving the growth of the microplastic fillers market in the packaging end-use industry. First, there has been a growing demand for lightweight and strong materials used in packaging recently; therefore, microplastic fillers receive wider acceptance. The fillers increase the strength and durability of the packaging material while bringing down its weight, a factor very important to economize on transportation costs and minimize environmental impacts. Such excellent barrier properties of microplastic fillers to moisture, air, and other impurities help safeguard the product and hence offer extended shelf life. Secondly, innovation in material science has been driven by enhanced sustainability needs in the packaging industry. In most cases, microplastic fillers are manufactured from recycled plastics, providing a route for sustainable packaging. This meets consumer preferences and regulatory pressures toward green packaging, raising demand further.

Powder is anticipated to be the fastest-growing Microplastic fillers Market segment, by form, during the forecast period.

Some key factors drive the rapid growth in the powder form of microplastic fillers. Firstly, powder fillers have excellent dispersion properties that ensure homogeneous distribution within the host material. This results in enhanced mechanical properties and stability of the end product, they are highly sought after in applications where characteristics of the material should be closely controlled, such as in the packaging industries. Powdered microplastic fillers decrease weight without loss of strength, and fuel efficiency is increased with reduced emissions, all of which help toward global sustainability targets and regulatory standards that drive further adoption.

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Polypropylene is anticipated to be the fastest-growing Microplastic fillers Market segment, by type, during the forecast period.

It is one of the fastest-growing types in the microplastic fillers market, among other types. This is attributed to the highly exceptional properties and applicability of polypropylene. First, polypropylene has very excellent properties in terms of chemical resistance, mechanical strength, and durability. In this way, it becomes applicable in various end-use applications for making parts of automobiles, packaging materials, and consumer goods that require long life and performance. One of the strong points that make polypropylene very useful is its easy processability into fiber, film, and molded products. By doing so, it becomes suitable for a lot of manufacturing processes, among them injection molding, extrusion, and thermoforming. It enables the production of lightweight components but high in strength when combined with polypropylene microplastic fillers; this easily appeals to industries driven by weight reduction and energy efficiency, of which construction and packaging are part.

North America is expected to be the second largest region in the global Microplastic fillers Market, by region, during the forecast period.

North America is the fastest-growing region in the microplastic fillers market, and the growth in this region is influenced by some key factors. First, the industrially well-built base of the region, especially in industries such construction, packaging, and electronics, acts as a booster for the demand for advanced materials, thereby including microplastic fillers. These industrial sectors take advantage of the very specific properties of microplastic fillers, like lightweight, durability, and improved mechanical strength, which are important to be adhered to while developing products for better performance and efficiency. The significant innovative efforts taken and the technological development in North America drive the microplastic fillers market. With many of the leading research institutes and companies involved in heavy investments in material science and new manufacturing techniques, the region is well on its way to developing state-of-the-art microplastic fillers that offer enhanced functionality and environmental advantages, thus responding to the changing needs of manufacturers and consumers.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Microplastic fillers Market. Include BASF SE (Germany), Clariant (Switzerland), Thermo Fisher Scientific Inc. (Waltham), POLYFILL (Vietnam), Composition Materials Co. (Connecticut), Honeywell International Inc. (US), Schilling Ltd. (Spain), Kaimaoxing Cellulose (Shandong) Co., Ltd (China), Precision Drawell Pvt Ltd. (India), and Goonvean Fibres (England).

Browse Adjacent Market: Resins and Polymers Market Research & Consulting

Related Reports:

Consumer Foam Market - Global Forecast to 2026

Polyolefins Market- Global Forecast to 2021

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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