It has been predicted that plastic fillers market size will exceed US$14.5 billion by 2026, with surging demand across automotive and construction applications.
Ocean View, DE -- (SBWIRE) -- 06/30/2020 -- Plastic, a material with unlimited potential, is virtually everywhere. From toys to water bottles and automotive parts, this versatile material finds application in almost every industry vertical. Plastic is made up of many other materials including plastic fasteners. Different types of plastic fillers are used to manufacturer plastic fasteners.
Fillers are usually added to reduce the cost of production. Plastic fillers cost significantly less than primary plastic materials, considerably minimizing overall cost. In addition, fillers can boost the strength and durability of plastics. On an average, plastic fillers, organic or inorganic, constitute up to 70% a plastic fastener.
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Calcium carbonate to witness robust demand
Calcium carbonate, also known as limestone, is among the most popular plastic fillers. It represents more than half of the inorganic fillers used in the plastic industry. When used as an additive, calcium carbonate reduces the surface energy and offers opacity and surface gloss, improving overall surface finish. It also improves the density, tensile modulus, and impact strength in addition to reducing costs.
Seemingly, calcium carbonate fillers are among the most used materials in the construction sector. This can be associated with widespread use of plastic pipes, cables, panels, coverings, films, and sheets in building and construction. The versatility, durability, corrosion resistance, and excellent strength-to-weight ratio makes plastic an essential component in construction which will undeniably boost the demand for plastic fillers.
Use of plastics in the automotive sector
The introduction of automotive plastics has transformed the way vehicles are made. Today, a large number of automotive components, from performance to aesthetics, includes some form of plastic. High-performance plastics, in particular, are playing a crucial role in automaking. Automotive plastics, being lightweight, make vehicles more fuel-efficient.
Key Point Of TOC:
Chapter 8 Company Profiles
8.1.1 Business Overview
8.1.2 Financial Data
8.1.3 Product Landscape
8.1.4 SWOT Analysis
8.1.5 Strategy Outlook
8.2 Mineral Technologies Inc.
8.2.1 Business Overview
8.2.2 Financial Data
8.2.3 Product Landscape
8.2.4 SWOT Analysis
8.2.5 Strategy Outlook
8.3 Hoffman Minerals
8.3.1 Business Overview
8.3.2 Financial Data
8.3.3 Product Landscape
8.3.4 SWOT Analysis
8.3.5 Strategy Outlook
8.4 LKAB Group
8.4.1 Business Overview
8.4.2 Financial Data
8.4.3 Product Landscape
It is estimated that every 10% reduction in automobile weight can result into 5-7% lower fuel consumption. Mounting environmental and economic concerns have made the creation of more fuel-efficient vehicles a top priority for automakers.
The role of plastics in the design and manufacturing of automotive components has never been more prominent. Although the use of modern materials like carbon fiber and aluminum can enhance fuel-efficiency, the wise allocation of plastic materials can make a significant difference. High absorption characteristics of plastic allow automakers to meet stricter safety and environmental standards.
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As automobile manufacturing evolves depending of various consumer trends and environmental factors, plastic fillers are expected to witness consistent rise in demand over the coming years. In addition, the use of engineering plastics could minimize the mass of automotive components as they offer a greater degree of design freedom compared to metals and alloys.
The presence of stringent regulatory framework pertaining the use of plastics might hamper plastic fillers industry growth up to certain extent. However, a significant consumption of plastics in automotive, construction, and manufacturing applications will foster industry outlook in the future. Qualities of plastics such as increased durability, light weight, cost-effectiveness, and design flexibility make them an ideal choice of material in these applications.
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