Global Putty Fillers Market Is Expected To Grow At A CAGR Of 7.5% Over The Forecast Period From 2017 To 2025 Increasing Growth Of Construction Industry Is Driving The Market Growth
The latest market report published by Credence Research, Inc. “Putty Fillers Market, By Type (Polyester Putty, Epoxy Putty, Putties for Plastics, Multifunctional Putty and Others), End-Use Industry (Automotive, Construction, Marine, Metal and Others) and Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global putty fillers market is expected to grow at a CAGR of 7.5% over the forecast period from 2017 to 2025
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The excellent properties of putty fillers such as low friction, adhesion, elasticity, easy sanding, low porosity and high strength is one of the key factor driving the overall growth. Furthermore, high melting point, wide service temperature range and weather ability are some other major advantages of using putty fillers over traditional sealants.
Putty fillers are used to provide a perfect and smooth level to the surface, and to craters, hollows, dents, imperfections and cracks which are visible on the surface.
Currently, the global putty fillers market is witnessing optimistic opportunities owing to a rapid increase in demand for specialized putty for metallurgy and galvanized surfaces. Also, several applications of putty fillers in marine and medical industry is another major factor driving the growth of the global market.
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Additionally, increasing growth of automotive and construction industries especially in developing economies of Asia Pacific coupled with rise in demand for putty fillers as insulating sealants in electrical circuits drives the market growth.
The automotive industry is progressively replacing welding of vehicle assemblies with putty fillers to decrease the vehicle weight in order to increase the fuel efficiency. Thus, increasing demand for automobiles across the globe is in turn driving the global putty fillers market.
The global putty fillers market is witnessing a significant growth owing to rising demand for glass constructions especially across commercial buildings coupled with rising marine renovation and maintenance activities.
The key players in the global putty fillers market are investing more on research & development activities to introduce cheaper and relatively more versatile filler materials.
Some of the major players operating in the global putty fillers market include Tamiya Corporation, Heima Chemicals, Evercoat, The 3M Company, Motip Dupli B.V., Akzo Nobel, Sikkens, JK White Cement Works, Henkel AG & Co. KGaA and HB Fuller among others.
- Increasing growth of automotive & construction industry
- Increasing consumer spending leading to rise in construction renovation activities
- Increasing innovations in the use of putty fillers in medical and electrical applications
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