Filled Thermoplastic Resins Market: Overview
- Filled thermoplastic resins are made of a thermoplastic matrix resin, a filler material, and a thermoplastic additive resin
- In terms of filler material type, the global filled thermoplastic resins market can be segmented into glass fiber, carbon fiber, alumina fiber, silica fiber, and others (including polytetrafluoroethylene, aramid fiber, and potassium titanate). Glass fiber-filled thermoplastic resins are extensively used as an insulating material in a wide variety of fields. On the other hand, carbon fiber-filled thermoplastic resins are primarily used as electrically conductive materials.
Key Drivers of Global Filled Thermoplastic Resins Market
- Growing urbanization, rising middle-class population, and increasing disposable income of people have led to rise in space requirement across the globe. Ability of filled thermoplastic resins to provide excellent insulation to a structure is expected to drive the demand for these resins in the near future.
- Urbanization across Nordic countries such as Finland, Sweden, Norway, and Denmark has augmented the demand for basic facilities in these countries such as new construction, land, water, and energy. This, in turn, has led to housing shortage in major cities in these countries. Additionally, most Nordic countries comprise the top ten most rapidly expanding cities in Europe, thereby leading to high demand for construction projects in these countries. All these factors are likely to drive the demand for filled thermoplastic resins during the forecast period, owing to their ability to resist extreme weather conditions prevailing in Europe.
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Asia Pacific to Hold a Prominent Share of Global Filled Thermoplastic Resins Market
- In terms of region, the global filled thermoplastic resins market can be segregated into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America
- Increase in the GDP coupled with growth of the commercial real estate sector has led to increase in construction activities across the Asia Pacific region. Also, increase in foreign direct investments (FDIs) and state funding for public works is anticipated to drive the demand for filled thermoplastic resins in Asia Pacific in the near future. In addition, rising population and increasing disposable income of people in the region are other major factors expected to drive the demand for filled thermoplastic resins in the region in the near future.
- Rise in investments in the construction sector for the development of highly advanced infrastructure is projected to drive the filled thermoplastic resins market in North America during the forecast period. According to Associated General Contractors of America, the construction spending in the U.S. increased by 1.3% from December 2018 to January 2019, owing to increase in the construction of mostly private and public non-residential buildings across the U.S. This, in turn, is anticipated to drive the filled thermoplastic resins market in North America in the next few years.
- Recovering economy along with rising foreign investments in the building & construction sector in Latin America is expected to fuel the demand for filled thermoplastic resins in the region during the forecast period. Also, significant growth of the infrastructure sector in countries such as Brazil and Colombia is projected to drive the market in the region between 2019 and 2027.
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Key Players Operating in Global Filled Thermoplastic Resins Market
The global filled thermoplastic resins market is highly consolidated in nature, as the market is dominated by a moderate to a few number of manufacturers. Key players are prominently engaged in mergers and acquisitions and increasing their research and development activities in order to expand their product portfolios. Major producers operating in the global filled thermoplastic resins market are:
- LyondellBasell Industries N.V.
- Borealis AG
- DowDuPont Inc.
- Koninklijke DSM N.V.
- Solvay SA
- BASF SE
- Celanese Corporation
- LANXESS AG
- Koninklijke Ten Cate B.V.
- RTP Company
- The Chisso Corporation
Global Filled Thermoplastic Resins Market: Research Scope
Global Filled Thermoplastic Resins Market, by Filling Material
- Glass Fiber
- Carbon Fiber
- Alumina Fiber
- Silica Fiber
- Others (Including Polytetrafluoroethylene, Aramid Fiber, Potassium Titanate)
Global Filled Thermoplastic Resins Market, by Application
- Building & Construction
- Consumer Goods
- Electrical & Electronics
Global Filled Thermoplastic Resins Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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