• Blog
  • Microsphere Market In Composites Industry Report

    Microsphere Market In Composites Industry Report

    Microsphere Market In Composites Industry Report
    Report code - SRAM418 Published On : Sep,2020 No. of Pages: 220
    Get Free Sample |
    Play Audio
    Listen
    Microsphere Market in the Composites Industry | Size, Share, Trend, Forecast, & Indust See more...

    Impact of COVID-19 on Microsphere Market In Composites Industry

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on Microsphere Market In Composites Industry

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Microspheres are small spherical particles, generally ranging from 12 to 300 µm in diameter. In the global composites industry, microspheres are gradually gaining traction as lightweight fillers as they provide both product enhancement and process improvements. Integration of microspheres in composite parts delivers low density, improved dimensional stability, increased impact strength, smoother surface finish, greater thermal insulation, easier machinability, faster cycle times, and cost savings.

    The outbreak of Covid-19 has devastated the growth trajectory of all the major end-use industries. Composite materials are proving to be another victim of it; however, the impact is considered to be relatively low than other traditional materials.  In Q1 2020; the Composites Index fell sharply to an all-time low of 38.4 as new orders, production, employment, and exports all recorded historic low readings. As the production and demand dried out in all the major markets due to pandemic, the domino effect has also been witnessed in the demand for raw materials such as fiber, resin, fillers, and additives. Microsphere, a category of high-performance lightweight fillers, is no exception and is witnessing a huge plunge in demand during the same period. Furthermore, supply chain disruption, labor shortage, and sagging business confidence are estimated to crush the demand for microspheres in the composites industry to the 2015-market level in 2020.

    Despite the short-term demand fiasco, the long-term outlook for microspheres in the composites industry is still promising.  The market is anticipated to log a speedy recovery from 2021 onwards, considering the revival of all the major markets including transportation, building & construction, electricals & electronics, consumer goods, etc. Further, an expected increase in the penetration of composite materials in the transportation and building & construction industries to act as a catalyst towards the market growth.

    Segments' Analysis

    Microsphere-Market-in-the-Composites-Industry-Dominant-Segments

    Wish to get a free sample? Register Here

    Microsphere Market in the Composites Industry by Filler Type

    Based on the type, Stratview Research has segmented the market into glass bubble, expanded polymers, and others. Glass bubble is expected to remain the dominant filler type during the forecast period. Glass microspheres are available as commercial products and in large quantities with a relatively low price compared to other microspheres. Glass microsphere features low density and low thermal conductivity; hence, are increasingly preferred as fillers in composite part fabrication for the transportation and building & construction industries. Glass bubbles play a vital role in reducing the weight and cost of composite parts without compromising other properties required for different applications.

    Microsphere Market in the Composites Industry by Application Type

    Based on the end-use industry type, the market is segmented into transportation, electricals & electronics, building & construction, consumer goods, and others. Transportation is expected to maintain its lead in the market over the next five years. Automakers around the globe are continuously making efforts to reduce the weight of the vehicle in order to achieve better fuel efficiency. Lower carbon emissions have been the top priority due to rising pollution concerns coupled with stringent regulations, such as CAFÉ 2025. Increasing demand for lightweight vehicles is likely to push the demand for composite materials with greater use of lightweight fillers, especially microspheres.

    Regional Insights

    In terms of regions, all the markets are expected to mark a colossal decline in 2020 in the wake of the rapid spread of the pandemic. However, Europe is estimated to comfortably maintain its leading position in the microsphere market during the forecast period. The automotive industry plays a crucial role in the European economy, alone contributing ~7% of the region’s GDP. Stringent regulation related to carbon emission and high investment towards R&D has led to greater penetration of composite materials in European vehicles than that of other regional markets with increased penetration of microspheres as fillers. Furthermore, the rising penetration of composites in a wide array of industries is likely to reinforce the demand for microspheres in the European market.

    Microsphere-Market-in-the-Composites-Industry-By-Region

    Know which region offers best growth opportunities. Register Here

    Asia-Pacific is expected to heal up with the fastest pace from 2021 onwards. China, India, Japan, and South Korea are estimated to remain the major markets for microspheres in the region, owing to their dominance in the region’s transportation, building & construction, and consumer goods industries. Furthermore, significant economic development in the region along with a huge consumer base, rising disposable income, and changing lifestyle are likely to act as a catalyst towards the region’s market growth.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2015-2026

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries/Subregions Covered

    The USA, Canada, Mexico, France, Germany, the UK, Russia, China, Japan, India, Brazil, Turkey and others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

                                                                                      

    The microsphere market in the composites industry is segmented into the following categories.

    Microsphere Market in the Composites Industry, By Type:

    • Glass Bubble (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Expanded Polymers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Microsphere Market in the Composites Industry, By Process Type:

    • Injection Molding (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Compression Molding (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Hand Lay-Up (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Spray-Up (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Pultrusion (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Microsphere Market in the Composites Industry, By End-Use Industry:

    • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • E&E (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Microsphere Market in the Composites Industry, By Region:

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: France, The UK, Germany, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea and Rest of Asia-pacific)
    • Rest of the World (Country Analysis: Brazil, Turkey, and Others)