Rockville, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The Global Mineral Fillers Market was valued at US$ 22.9 Bn in 2022 and is expected to reach US$ 42.6 Billion by 2032, finds Fact.MR in a recent market survey. The widespread use across industries as manufacturers try to drive down costs and benefit from the properties adding fillers can bring is expected to be the key driver for demand.
Demand for lightweighting in the automotive industry to provide a major boost to demand in the forecast period
The emerging trend of the hour is for the lightweighting of vehicles in the automotive industry. Using lighter materials for vehicles, which directly benefits fuel consumption and reduces fuel emissions, also shows benefits in the safety of vehicles. Mineral filler-enhanced plastic is a key component emerging in this trend. Research shows that crumple zone applications of fillers can lead to increased safety. Further, the printing of single plastic parts can replace several smaller metal parts, which is beneficial in the reduction of assembly time and costs.
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Mineral Fillers Market: Competition Insights
The key companies operating in the mineral fillers market include Akrochem Corporation, Albemarle Corporation, Covia Corporation, Elementis, GCR Group, Hoffmann Minerals, Huber Engineered Materials, Imerys SA, Kärntner Montanindustrie GmbH, LKAB Minerals AB, Lhoist S.A., Minerals Technologies Inc., Omya International AG, Quarzwerke GmbH, US Minerals, Vanderbilt Chemicals, and 20 Microns Ltd.
Some of the recent development in Mineral Fillers are as follows:
- In April 2021, Cimbar Performance Minerals, a division of United Minerals and Properties, Inc., Chatsworth, GA, acquired production and warehousing assets of business Tor Minerals, located in Chatsworth.
- In August 2021, Harwick Standard Distribution Corp. announced that they have signed a deal for the acquisition of Western Reserve Chemicals, which, amongst other offerings, distributes mineral fillers.
- In April 2021, Processing Technologies International and Farrel Pomini announced a collaboration. The two will jointly come up with a new technology for sheet barriers known as Direct-to-Sheet Compounding, which will facilitate the extruding of sheets from high levels of filler loading, like 60-70%.
Key Companies Profiled
- Akrochem Corporation
- Albemarle Corporation
- Covia Corporation
- Elementis
- GCR Group
- Hoffmann Minerals
- Huber Engineered Materials
- Imerys SA
- Kärntner Montanindustrie GmbH
- LKAB Minerals AB
- Lhoist S.A.
- Minerals Technologies Inc.
- Omya International AG
- Quarzwerke GmbH
- US Minerals
- Vanderbilt Chemicals
- 20 Microns Ltd
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Applications of Mineral Fillers in Papermaking to contribute the most to revenue
Papermaking is the top application for global mineral fillers, contributing to over 30% of the global market in 2021. Revenue through this application witnessed a CAGR of 5.6% and has a forecasted market value of US$ 17 Bn at a CAGR of 7.1%. Demand in this category is expected to increase as papermakers turn to the benefits using fillers will provide, such as reduced costs, increased smoothing at lower mass per unit area and the ability to meet requirements for properties such as brightness and opacity at lower costs than using just fibers would have cost.
The United States to continue being the Nucleus of Global Mineral Fillers Demand
The US is a key country for global mineral fillers demand, accounting for over 36% of the 2021 market, with a US$ 6.7 Bn absolute dollar opportunity between 2022 to 2032 and a forecasted market size of US$ 17.6 Bn by 2032 at a 6% CAGR. In 2022, the US government’s Department of Energy awarded a US$ 3.3 Mn grant for the production of and research into biogenic limestone to be used as a mineral in ground limestone.
Key Segments Covered In Mineral Fillers Industry Survey
- By Application :
- Paper Manufacturing
- Plastic Manufacturing
- Paints and Coatings Manufacturing
- Adhesives and Sealants Manufacturing
- By Region :
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Global Mineral Fillers Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Global Mineral Fillers Market by Application (Paper, Plastic, Paint and Coatings, Adhesives and Sealants, Other Applications), across five regions (North America, Asia Pacific, Europe, Middle East & Africa and Latin America).
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
4. Global Market Analysis
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