Lightweight Fillers Market Size, Impacted by COVID-19, to Reach US$ 7.7 Billion in 2025, Says Stratview Research

DETROIT, June 30, 2020 /PRNewswire/ -- Stratview Research  announces the launch of a new market research report on Lightweight Fillers Market by Material Type (Hollow Glass Microspheres, Foam Glass Granulates, Cenosphere, Perlite Microspheres, Expanded Polymer Microspheres, Ceramic Microspheres, Solid Glass Microspheres, Solid Polymer Microspheres, Metallic Microspheres, Wollastonite, Ground Mica, and Calcined Clay), by Microsphere Type (Hollow Microspheres and Solid Microspheres), by Application Type (Paints & Coatings, Plastics & Rubber, Construction Materials, Life Sciences & Pharmaceutical, Agriculture Materials, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.

This report is the most comprehensive study ever built on the fillers market by any company and provides a detailed market assessment for 12 fillers/microspheres by region and application type in terms of both, value and volume. The report compares both lightweight as well as high-density fillers intending to portray a clear view about the future market directions/growth. The report provides detailed analysis including the short as well as long-term revenue loss of the lightweight fillers market due to the pandemic.  Also, it estimates the total opportunity loss by comparing pre-COVID and post-COVID market scenarios. The report proves to be extremely beneficial, particularly to those companies, willing to build short-term strategies with an aim to protect themselves from the current uncertain market environment. The report also portrays the long-term market view (post-pandemic), identifying future growth avenues for the market participants and other stakeholders.

Lightweight Fillers Market: Highlights

Lightweight fillers are the substitutes of heavier substances offering greater weight reduction without compromising the volume of the end products. Further, these fillers enhance several properties of products such as durability, flexibility, thermal stability, and dimensional stability. They also save raw material cost by reducing the demand for binders/resins. Lightweight fillers majorly include microspheres that can expand up to 60 times from their original size without significantly gaining weight. These are functional additives, used to enhance the performance of the product, used for a variety of applications.

There are a variety of fillers present in the market. Each filler type is widely used in specific applications, driven by their distinct advantages and compete with some filler types having similar advantages. Lightweight fillers are majorly made from either glass, polymer, or ceramics. Thus, we have broadly classified materials into Glass Microspheres (hollow glass microspheres, foam glass granulates, perlite microspheres, and solid glass microspheres), Polymer Microspheres (expanded polymer microspheres and solid polymer microspheres), Ceramic Microspheres (cenosphere and ceramic microspheres), Mineral Fillers (wollastonite, ground mica, and calcined clay), and Others (metallic microspheres).

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Impact of COVID-19 on the Lightweight Fillers Market

The market was about to continue its journey of tremendous growth in the market with good growth opportunities in most of the application types. However, the rapid spread of COVID-19 has entirely flipped the market dynamics and because of that, the market is expected to log a negative growth (decline) in the year 2020.

The construction industry is among one of the worst-impacted industries due to the pandemic. The industry has witnessed a downturn since the lockdown announced by several countries to control the spread of COVID-19. As per recent estimates of the IMF's World Economic Outlook, there could be a possible cumulative loss of US$ 9 trillion to global GDP during 2020-2021 with a decline of -3% in global real GDP in 2020. Currently, the construction industry accounts for more than 12% of the global GDP. The lightweight fillers market is strongly depended on the organic growth of construction and automotive industries.

The pandemic has already deteriorated the lightweight fillers market health by taking the major economies into its grip. However, the market participants are still optimist about the market recovery, hoping for a similar curve as it was during the previous pandemics, such as SARS (2003) and MERS (2015) and great recession (2008).  Considering the current market scenario coupled with primary interviews' results of the market stakeholders and industry experts, the lightweight fillers market is projected to recover at a healthy pace from 2021, ultimately pushing the market to reach US$ 7.7 billion in 2025.

Continuous increase in the penetration of plastics/composites in the transportation sector, especially in the automotive industry, to achieve the fuel efficiency targets; rising demand for energy-efficient building coupled with expected growth in building & construction industry; stringent regulations regarding carbon emissions and VOC-free coatings; and high demand for lighter, brighter, and aesthetically pleasing products in the cosmetics & personal care, are some of the factors suggesting healthy long-term growth opportunities in the market once the pandemic starts to fade away.

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Market Share Analysis   

Based on the application type, the market is segmented as paints & coatings, plastics & rubber, construction materials, life sciences and pharmaceutical, agriculture materials, and others. Paints & coatings are projected to remain the most dominant application in the lightweight fillers market during the forecast period, owing to its widespread usage and excellent benefits. Fillers, especially the lightweight fillers have been gaining penetration in paints & coatings. For instance, there is greater use of lightweight fillers in roof paints/coatings of commercial & residential buildings, solar reflective coatings on vehicle's roof, and reflective markings on roads. Lightweight fillers added into paints & coatings offer huge reduction in VOCs, improve flowability, gloss control, solar reflectivity, thermal insulation, shrinkage resistance, and heat resistance and hardness; in addition to weight reduction.

Based on the material type, the market is segmented as hollow glass microspheres, foam glass granulates, cenosphere, perlite microspheres, expanded polymer microspheres, ceramic microspheres, solid glass microspheres, solid polymer microspheres, metallic microspheres, wollastonite, ground mica, and calcined clay. Hollow glass microsphere is likely to remain the most dominant material in the market during the forecast period, in terms of value, mainly driven by its excellent properties such as low density, thermal stability, and dimensional stability and widespread usage in various industries.

In terms of region, Europe is projected to remain the largest market for lightweight fillers during the forecast period in terms of value, propelled by Germany, France, and the UK. Rising demand for energy-efficient buildings and architectures, high penetration of lightweight fillers, and the presence of several market stakeholders including paints & coatings manufacturers, automotive OEMs, as well as lightweight filler manufacturers (Imerys S.A., Nouryon, Merck KGaA, Omya AG, Trelleborg AB, and BASF SE) are the major factors behind the dominance of the region. Many major countries of the European region are among the worst-affected nations of the world due to the pandemic, causing a greater decline in the regions' market.

Asia-Pacific is expected to recover at the fastest pace from 2021 onwards, driven by an early recovery expected in China, which is among one of the leading countries for several industries, such as Automotive, Electrical & Electronics, Construction, and Consumer Goods. As per The United States Geological Survey, China is the world's leading producer of minerals including wollastonite and calcined clay. Matsumoto Yushi-Seiyaku Co., Ltd, Sekisui Chemical Co., Ltd., Sinosteel Maanshan New Material Technology Co., Ltd, and Kureha Corporation are some of the major lightweight filler manufacturers based in the region.

Key Players

There are many players in lightweight fillers, serving various end-use industries of the market. Each player is catering to a multitude of applications by providing two or three lightweight filler materials and competing with the players providing similar materials. Key players of the market are focusing on product development/innovations to address the emerging market requirements such as lightweight, cost-effective, higher performance, and environmentally safe products.

Some of the key players in the lightweight fillers market are Imerys S.A., Kureha Corporation, Matsumoto Yushi-Seiyaku Co., Ltd, Merck KGaA, Nouryon, Omya AG, PQ Corporation, Sekisui Chemical Co., Ltd., Sinosteel Maanshan New Material Technology Co., Ltd, and The 3M Company.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

This report studies the global lightweight fillers market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:

Lightweight Fillers Market, by Material Type

• Hollow Glass Microspheres

• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Paints & Coatings, Plastics & Rubber, Construction Materials, Agriculture Materials, and Others
• Foam Glass Granulates
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Paints & Coatings, Plastics & Rubber, Construction Materials, Agriculture Materials, and Others
• Cenosphere
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Paints & Coatings, Plastics & Rubber, Construction Materials, and Others
• Perlite Microspheres
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Paints & Coatings, Plastics & Rubber, Construction Materials, Agriculture Materials, and Others
• Expanded Polymer Microspheres
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Paints & Coatings, Construction Materials, and Others
• Solid Glass Microspheres
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Paints & Coatings, Plastics & Rubber, Construction Materials, Agriculture Materials, Life Sciences & Pharmaceutical, and Others
• Solid Polymer Microspheres
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Life Sciences & Pharmaceutical and Others
• Metallic Microspheres
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Others
• Wollastonite
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Paints & Coatings, Plastics & Rubber, Construction Materials, and Others
• Ground Mica
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Paints & Coatings, Plastics & Rubber, Construction Materials, and Others
• Calcined Clay
• Regional Analysis: North America, Europe, Asia-Pacific, and RoW
• Application Type Analysis: Paints & Coatings, Plastics & Rubber, Construction Materials, and Others

Microspheres Market, by Microsphere Type

• Hollow Microspheres (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Solid Microspheres (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Lightweight Fillers Market, by Application Type

• Paint & Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Plastics & Rubber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Construction Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Life Sciences & Pharmaceutical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Agriculture Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Perlite Microspheres Market, by Application Type

• Paint & Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Plastics & Rubber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Construction Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Agriculture Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Lightweight Fillers Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: France, Germany, the UK, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Japan, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: The Middle East, Latin America, and Others) and (Country Analysis: Brazil, Argentina, and Others)

Stratview Research has several high value market reports in the advanced materials industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html

Our other related premium market report:
Microspheres Market By Microsphere Type (Hollow Microspheres and Solid Microspheres), By Material Type (Hollow Glass Microspheres, Foam Glass Granulates, Cenosphere, Perlite Microspheres, Expanded Polymer Microspheres, Ceramic Microspheres, Solid Glass Microspheres, Solid Polymer Microspheres, and Metallic Microspheres,), By Application Type (Paints & Coatings, Plastics & Rubber, Construction Materials, Life Sciences & Pharmaceutical, Agriculture Materials, and Others), and By Region (North America, Europe, Asia-Pacific, and Rest of the World), Market Size, Share, Trend, Forecast, and Competitive Analysis: 2020-2025. 

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