Rockville, MD , Oct. 10, 2024 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global Mineral Fillers Market was valued at US$ 25.3 billion in 2023 and is projected to expand at a noteworthy CAGR of 6.0% to end up at US$ 48.0 billion by 2034.
Mineral fillers are finely milled inorganic substances artificially produced or naturally sourced to be incorporated into various products to be able to modify their mechanical, chemical, and physical properties. These materials are used to enhance performance features, processing efficiencies, or reduce the final cost of the product. Mineral fillers have an influence on a broad spectrum of products like constructional materials, rubber, paper, paints, adhesives, and plastics.
The fillers provide partial substitution for expensive resins with reduced expenses and better mechanical characteristics of plastic such as its impact resistance and tensile strength are increased. Besides, the usage of plastics reinforced with mineral fillers has grown in the automotive industry.
There is an ever increasing demand for such minerals as they provide strength, flexibility and resistance against shock. Similarly increasing demand for mineral fillers is caused by interest in green building materials and renewable energy sources. In addition, it is due to increasing construction and automotive industries in China and India that mineral filler consumption is generally growing; consequently Asia Pacific remains the main region driving this demand. It also houses a number of significant producers of mineral fillers.
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Key Takeaways from Market Study:
- The global mineral fillers market is projected to grow at 0% CAGR and reach US$ 48.0 billion by 2034
- The market created an opportunity of US$ 21.2 billion between 2024 to 2034.
- East Asia is a prominent region that is estimated to hold a market share of 6% in 2024
- Calcium Carbonate under type is estimated to grow at a CAGR of 1% creating an absolute $ opportunity of US$ 6.9 billion between 2024 and 2034
- North America and East Asia are expected to create an absolute $ opportunity of US$ 14.0 billion collectively
“The mineral fillers market is expected to exhibit steady growth, driven by increasing demand from the construction, automotive, and pharmaceutical industries. Key players are focusing on expanding their product portfolios and geographic reach, while innovative technologies are enhancing the fillers' properties and sustainability” says a Fact.MR analyst.
Leading Players Driving Innovation in Mineral Fillers Market:
Covia Corporation; Elementis; Hoffmann Minerals; Huber Engineered Materials; Imerys SA; LKAB Minerals AB; Lhoist S.A.; Minerals Technologies Inc.; Omya International AG; US Minerals; Vanderbilt Chemicals; Other Prominent Players.
Market Development:
Key players in the mineral fillers market are Covia Corporation, Elementis, Hoffmann Minerals, Huber Engineered Materials and , Imerys SA. These companies are dedicated to R&D investments to address industry-specific challenges and deliver tailored solutions that enhance competitiveness and customer satisfaction.
Recent development include Covia has successfully acquired the Chemical & Materials Mineral Division of R.W. Sidley in May 2024. The division produces high-end silica-based products applied in the filtration, Chemical & Materials, and sports industries. With this acquisition, it will mean Sidley's silica sand mining plant located within Thompson, Ohio.
Hoffman Minerals introduced a new line of mineral fillers for coatings and adhesives in Feb 2023. The standout of their presentation was GLOXIL WW SL, a functional matting agent with excellent water and stain resistance.
Mineral Fillers Industry News:
- In May 2024, Covia has successfully acquired the Industrial Mineral Division of R.W. Sidley. The division produces high-end silica-based products applied in the filtration, industrial, and sports industries. With this acquisition, it will mean sidley's silica sand mining plant located within Thompson, Ohio. Hence, the quarries, along with reserving reserves coupled with part of the structures, machines, and other equipment required for the operation of the business.
- In Nov 2023. Elementis, a global specialty chemicals company, has announced the opening of a new unit in Portugal, which will house a center of excellence and an R&D laboratory that will serve as a showcase for customers throughout Europe.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global mineral fillers market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the type (Calcium Carbonate, Kaolin Clay, Talc, Mica, Silica/Quartz, Feldspar, Alumina Trihydrate, Others), application (Paper, Plastics & Polymers, Automotive, Construction and Building, Packaging, Electrical and Electronics, Consumer Goods, Chemical & Materials Applications, Medical and Healthcare, Transportation, Adhesives & Sealants, Construction & Cement, Rubber, Others) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
Segmentation of Mineral Fillers Industry Research:
- By Type :
- Calcium Carbonate
- Kaolin Clay
- Talc
- Mica
- Silica/Quartz
- Feldspar
- Alumina Trihydrate
- Others (Wollastonite, Diatomite, etc.)
- By Application :
- Paper
- Plastics & Polymers
- Automotive
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