Microsphere Market In Composites Industry Report
Microsphere Market in the Composites Industry is Segmented by Type (Glass Bubble, Expanded Polymers and Others), by Process Type (Injection Molding, Compression Molding, Hand Lay-Up, Spray-Up, Pultrusion, and Others), by End-Use Industry (Transportation, Electricals & Electronics, Building & Construction, Consumer Goods, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Microsphere Market in the Composites Industry is Segmented by Type (Glass Bubble, Expanded Polymers and Others), by Process Type (Injection Molding, Compression Molding, Hand Lay-Up, Spray-Up, Pultrusion, and Others), by End-Use Industry (Transportation, Electricals & Electronics, Building & Construc...
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy 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.
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.
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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.
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.
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.
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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.
The supply chain of this market comprises raw material suppliers, para-aramid fiber suppliers, part manufacturers, OEMs, and MRO companies.
The key players in the para-aramid fiber market are-
The major players’ key focus (capacity expansions) has now transitorily shifted to cash preservation and long-term stability to handle the ongoing crisis.
Similar to the overall aramid market, DuPont de Nemours and Tejin Ltd. practically rule the para-aramid fiber market’s competitive landscape, Tejin maintaining its vanguard. The market is extremely concentrated with the top five players grabbing the majority share of the market. The major companies display a keen focus on capacity expansions in order to perpetuate and expand their steadfast presence in the market. For instance, in 2017, the market leader, Teijin, announced its target of Twaron’s capacity expansion by more than 25% over the next five years. In the same year, the company also established a new production line at its Technora production facility in Matsuyama, Japan.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
Trend & Forecast Period
North America, Europe, Asia-Pacific, Rest of the World
The USA, Canada, Mexico, France, Germany, the UK, Russia, China, Japan, India, Brazil, Turkey and others
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The microsphere market in the composites industry is segmented into the following categories.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s microsphere market realities and future possibilities in the composite industry for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for microspheres in the composites industry at the global-, regional-, as well as country-level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies
The following are the key features of the report:
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The 3M Company, Nouryon, PQ Corporation, Matsumoto Yushi-Seiyaku Co. Ltd., Sinosteel Maanshan New Material Technology Co., Ltd., Omya, Chase Corporation, Sekisui Chemical Co., Ltd., and Trelleborg AB. are among the key players in the Microsphere Market in the Composites Industry.
Europe is expected to lead the microsphere market in the composites industry during the forecast period of 2021-2026.
Transportation is expected to remain dominant end-use industry in the microsphere market in the composites industry in the coming five years.
Glass bubble is expected to remain dominant filler type in the microsphere market in the composite industry in the coming five years.
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