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Putty Fillers Market By Type (Polyester Putty, Epoxy Putty, Putties For Plastics, Multifunctional Putty) , By End-Use Industry (Automotive, Construction, Marine, Metal) - Growth, Future Prospects And Competitive Analysis, 2017 - 2025

Putty is a filler material that is analogous in texture to dough or clay and has high plasticity. The unique function of putty fillers is to repair and fill cracks to make them smooth and aesthetically correct after sanding. Putty fillers are typically utilized in repair and maintenance and domestic construction as a filler or sealant. Some specialized putty fillers are flame retardant since they are widely used in fire prevention as well as for packing electrical boxes in flame-retardant drywall assemblies. The hydrates present in putty fillers go through an endothermic chemical reaction to alleviate the transfer of heat to the obscure side. Putty is also widely used in glazing and sealing glass panes to wooden frames. Glazing putty is usually manufactured by mixing linseed oil with finely ground chalk in diverse proportions. Although a wide range of synthetic substitutes have been introduced, such as polybutene putties and butyl rubber-based putties,

Rising demand for putty fillers from the construction and medical industries due to their outstanding properties of adhesion and elasticity is expected to fuel the overall growth of the market. Putty fillers are also used in marine applications and in the renovation of windmill blades. Therefore, increasing adoption of putty fillers in the renovation and maintenance of ships, along with increasing investments in the use of sustainable sources of energy, such as wind energy, are some major factors anticipated to bolster demand for putty fillers over the forecast period. The growing construction industry and rising investments in construction renovation activities have a significant impact on the global putty fillers market.

However, factors such as longer drying times and color mismatches in putty are expected to limit the growth of the global putty fillers market.Based on the end-use industry, construction accounts for the largest share of the global putty fillers market due to rapid urbanization and an increasing population across the globe. Also, increasing investments in construction renovation activities owing to rising per-capita disposable income and increasing consumer spending are anticipated to augment the construction segment during the forecast period.

Asia Pacific is anticipated to dominate the global market due to rising demand for efficient putty fillers, especially from the construction and automotive industries. Thus, the rapid development of the automotive and construction industries in India and China is a major factor driving the growth of the Asia Pacific putty fillers market. Moreover, rapid urbanization and increasing construction renovation activities, especially in rural areas, are leading to an unprecedented demand for efficient putty filler materials, which is anticipated to further propel the demand for putty fillers.

The global putty fillers market can be classified into the following types:

  • Polyester Putty
  • Epoxy Putty
  • Plastic Adhesives
  • Multifunctional Putty
  • Others (molding putty, adhesive putty, etc.)

The epoxy putty segment was dominant in the global putty fillers market in 2016 and is anticipated to uphold its dominance over the forecast period from 2017 to 2025. This is due to the high demand for cheaper and more efficient putty materials, especially from the automotive and construction industries. Moreover, low cost is a major factor driving the demand for epoxy putty since polyester putty and multifunctional putty is relatively more expensive and not viable to use in bulk amounts. Also, the increasing growth of the automotive industry is a major factor in demanding epoxy putty in bulk quantities since vehicle engines attain high temperatures and epoxy putty cures with a hard and tough bond with no shrinkage.

Moreover, increasing construction activities as well as increasing demand for epoxy putty in the repair of wood, metal, concrete, fiberglass, and plastics are some other major factors driving the epoxy putty segment in the global putty fillers market. The polyester putty segment is anticipated to account for the second largest share in the global putty fillers market due to the excellent properties of polyester putty, such as adhesion, low porosity, and superior elasticity. Furthermore, rising demand for commercial vehicle repair and maintenance, as well as increased applications of glass fibers in aircraft and ships, are driving up demand for polyester putty. However, fluctuating raw material prices, as well as the association of several disadvantages with putty fillers, are some major factors anticipated to hinder the market growth.

The global putty fillers market can be categorized on the basis of the end-use industry as follows:

  • Automotive
  • Construction
  • Marine
  • Metal
  • Others (medical, windmill, electrical, etc.)

By end-use industry, the construction segment accounted for the largest share of the global putty fillers market in 2016 and is expected to uphold its dominance throughout the forecast period. This is mainly due to the rising demand for efficient and cheaper putty filler materials in construction activities. Also, increasing disposable incomes, rising populations, and increasing consumer spending are some factors driving the demand for construction maintenance and repair across the globe. In addition, increasing applications of putty fillers for expansion jointing and flooring in residential and commercial building structures is another key factor driving the growth of the construction segment in the global putty fillers market. The use of glass walls is a major trend in the global construction industry.

Glass walls are being widely preferred, especially in commercial spaces, due to their high aesthetics and low investment compared to building concrete walls. The increasing development of commercial infrastructure is thus driving the global putty filler market. Also, increasing automotive production and the increasing propagation of putty fillers in fuel engines to offer heat resistance and durability are some other major factors driving the automotive segment in the global putty fillers market. Moreover, the emergence of China as an automotive OEM hub, coupled with increasing investments in research and development activities regarding the use of heat-resistant elastic putty materials in the finishing of automotive interior components, is further expected to fuel the growth of the automotive segment in the foreseeable future.

The global putty fillers market can be divided into the following regions and countries:

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • U.K.
  • Rest of Europe

Asia Pacific

  • China
  • India
  • Japan
  • Rest of Asia Pacific

Latin America

  • Brazil
  • rest of Latin America

Middle East and Africa (MEA)

  • GCC Countries
  • the remainder of MEA

Asia Pacific is projected to be the most profitable region in the global putty fillers market due to the increasing inclination of automotive manufacturers towards setting up their manufacturing facilities in Asia Pacific. This is due to the presence of favorable factors such as skilled labor, an abundance of raw materials, cheaper setup costs, and favorable governmental norms. Moreover, an increasing population, rising per capita disposable incomes, growth in consumer spending, and changing lifestyles of consumers are driving the overall automotive industry in the region, which is further expected to drive the Asia Pacific putty fillers market. Moreover, rapid urbanization and the increasing development of the construction industry, especially in China, India, Korea, and Indonesia, are other key factors driving the Asia-Pacific putty filler market.

Asia Pacific, owing to its fast pace of economic development and high demand from a broad range of end-use industries such as automotive, electrical, and construction, is a frontrunner in demand for putty fillers. Also, the low production cost of epoxy putty in China is anticipated to encourage market giants to open production facilities there. In addition, the easy availability of raw materials such as calcium carbonate, epoxy resin, and magnesium silicate at lower prices, as well as the increasing demand for polyester putty from the healthcare industry, further fuel the Asia Pacific putty fillers market's growth. North America is expected to account for the second-largest share owing to increasing construction and renovation activities coupled with rising demand for automobiles, especially in developing provinces of Canada.

Frequently Asked Questions:

The market for Putty Fillers Market is expected to reach US$ XX Bn By 2025.

The Putty Fillers Market is expected to see significant CAGR growth over the coming years, at 7.5%.

The report is forecasted from 2017-2025.

The base year of this report is 2016.

Tamiya Corporation, Heima Chemicals, Evercoat, The 3M Company, Motip Dupli B.V., Akzo Nobel are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jan 2018
Category:  Chemicals
Report ID:   58929
Report Format:   PDF
Pages:   120
Rating:    4.2 (24)
Delivery Time: 24 Hours to 48 Hours   
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