The Microplastic Fillers Market Size is valued at USD 3.12 billion in 2023 and is predicted to reach USD 4.28 billion by the year 2031 at a 4.1% CAGR during the forecast period for 2024-2031.
Microplastic fillers are very tiny pieces of plastic added to enhance the texture, durability, and appearance of the product, and they are ubiquitous in cosmetics, paints, and coatings. If they are not disposed of correctly, though, they might end up in rivers and damage aquatic life. The market for microplastic fillers is being propelled by the rising need for lightweight and long-lasting materials in various industries, including cosmetics, automotive, and construction. Their expansion in the market is driven by improvements in packaging technology and their performance-enhancing application in paints, coatings, and adhesives.
Additionally, technological advancements in the use of microplastic fillers in packaging have resulted in more efficient and lightweight designs by increasing their strength, flexibility, and durability. Because these fillers increase the barrier characteristics, the packaging is better able to withstand environmental stresses, including moisture and damage, which in turn increases the product’s shelf life. Moreover, the microplastic fillers industry is fueled by companies that create cutting-edge cosmetics, coatings, and packaging compositions. They work with sectors such as the automobile, building, and consumer goods industries to provide sustainable, long-lasting solutions that are also environmentally benign in order to satisfy environmental rules, which is a growing market in the coming years.
However, the new environmental rules, more people paying attention to the problem of plastic pollution, and more people wanting sustainable products hindered the market growth. The microplastic fillers market was hit hard by the COVID-19 epidemic, which caused supply chain disruptions and lowered industrial demand. In addition, rising demand for sustainable packaging and advancements in lightweight materials for the automotive and construction industries are all factors that could lead to opportunities in the microplastic fillers market.
Competitive Landscape
Some Major Key Players In The Microplastic Fillers Market:
- BASF SE
- Clariant
- Thermo Fisher Scientific Inc.
- POLYFILL
- Composition Materials Co.
- Honeywell International Inc.
- Schilling Ltd.
- Kaimaoxing Cellulose (Shandong) Co., Ltd
- Precision Drawell Pvt Ltd.
- Goonvean Fibres
- Sibelco
- SH Minerals Gmbh
- Clades Composites
- Imerys
- LKAB Minerals
- Omya International Ag
- Covia Holdings Llc
- Stockmeier Group
- Quarzwerke Gmbh
- 20 Microns
- Other Market Players
Market Segmentation:
The microplastic fillers market is segmented based on type, form, function, and end-use industries. Based on type, the market is segmented into polyethylene (PE), polypropylene (PP), polyurethane (PU), and others. By form, the market is segmented into microbeads, powders, fibers, and others. By function, the market is segmented into exfoliation, fillers, rheology modification, and others. By end-use industries, the market is segmented into cosmetics & personal care, paints & coatings, industrial manufacturing, packaging, construction materials, and others.
Based On The Type, The Polypropylene (PP) Segment Is Accounted As A Major Contributor To The Microplastic Fillers Market
Polypropylene (PP) in the microplastic fillers market is expected to lead with a large global market share in 2023 owing to its adaptability, which includes robustness, portability, and affordability. Many industries rely on PP for its durability and flexibility, including construction, packaging, and the automobile sector. Because of its abundance and ease of recycling, it is the microplastic fillers market, a popular choice among producers, is driving this market growth.
Cosmetics & Personal Care Segment To Witness Growth At A Rapid Rate
The cosmetics and personal care segment is growing because there is a growing need in the market for goods with improved textures, easy application, and enduring results. Microplastic fillers provide these benefits, enhancing the texture and functionality of cosmetics such as creams, lotions, and brushes. The usage of microplastic fillers is being propelled even higher in this market by the increasing consciousness surrounding personal hygiene and cosmetics, as well as by innovations in product formulas.
In The Region, The Asia Pacific Microplastic Fillers Market Holds A Significant Revenue Share
The Asia Pacific microplastic fillers market is expected to report the biggest market share in revenue in the near future. This can be attributed to because of the prevalence of sectors including transportation, building, and personal care. Market expansion in the region is being propelled by advancements in packaging technology and a surge in demand for lightweight, durable materials. In addition, North America is projected to grow rapidly in the microplastic fillers market because of the growing cosmetics, building, and automobile sectors in the area. Greater manufacturing capacity, more people living in cities, and higher demand for personal care goods are additional contributing factors to the market’s expansion in Asia-Pacific.
Recent Developments:
- In June 2023, BASF inaugurated its Biodegradation and Microplastics Center of Excellence at its Wyandotte, Michigan, facility to assist clients throughout North America in attaining their circularity and sustainability objectives. The centre aims to deliver comprehensive, customized solutions for clients underpinned by scientific research and consultancy, enhance the pace of market entry for circular economy products, and promote sustainability issues.
Microplastic Fillers Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 3.12 Bn |
|
Revenue Forecast In 2031 |
USD 4.28 Bn |
|
Growth Rate CAGR |
CAGR of 4.1% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Form, Function, And End-Use Industries. |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
BASF SE, Clariant, Thermo Fisher Scientific Inc., POLYFILL, Composition Materials Co., Honeywell International Inc., Schilling Ltd., Kaimaoxing Cellulose (Shandong) Co., Ltd, Precision Drawell Pvt Ltd., Goonvean Fibres and Other Market Players |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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