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  • Microspheres Market Growth Analysis | 2020-2025

    Microspheres Market Growth Analysis | 2020-2025

    Microspheres Market Growth Analysis | 2020-2025
    Report code - SRAM313 Published On : Jun,2020 No. of Pages: 294
    Microspheres Market Size, Share, Trend, Forecast Analysis & Growth Opportuni See more...

    Market Highlights

    The Microspheres Market is likely to grow at a promising CAGR of 5.9% in the long run, to reach US$ 6.4 billion in 2025

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    Microspheres are lightweight fillers that can expand up to 120 times from their original size without significantly gaining weight, which tends to weight reduction without compromising the volume of an end product. In addition to weight reduction, these microspheres enhance several properties of the end product such as durability, flexibility, and thermal and dimensional stability. They also save raw material costs by reducing the demand for binders/resins. Ranging from 12 to 300 µm in diameter, microspheres consist of a lot of functionality in a very small package.

    There are a variety of fillers present in the market. Microspheres are lightweight alternatives to conventional fillers, such as talc, calcium carbonate, and clay. Microspheres are produced from glass, ceramics, polymers, and metals. 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), and others (metallic microspheres).

    COVID-19 Impact

    The rapid spread of the COVID-19 pandemic has impacted the entire microsphere market ecosystem and changed the market dynamics. Most of the end-use industries have witnessed a downturn since the lockdown announced by several countries across the world to control the spread of COVID-19. The microsphere market is also expected to log a decline in 2020. However, industry experts are optimistic about a V-shape recovery similar to previous pandemics, such as SARS (2003) and MERS (2015). The long-term outlook still seems positive for the microspheres market.

    Segment Analysis

    By Microsphere Type

    The market is based on the microsphere type as hollow microspheres and solid microspheres. The hollow microsphere is likely to remain the most dominant segment of the market in the coming years. The wide application of hollow microspheres due to their lighter weight (specific density less than 0.6 g/cm3, compared to solid ones having a specific density of 2.5 to 2.8 g/cm3) is the prime reason behind their dominance. Solid microspheres are also used in huge quantities in paints & coatings, plastics & rubber, and life science and pharmaceuticals. 

    By Material Type

    The microspheres market is segmented into hollow glass microspheres, foam glass granulates, cenosphere, perlite microspheres, expanded polymer microspheres, ceramic microspheres, solid glass microspheres, solid polymer microspheres, and metallic microspheres. The hollow glass microsphere is likely to remain the most dominant material type in the market during the forecast period, in terms of value. Hollow glass microspheres allow high filler loading at lower viscosities, reduce shrinkage, and offer solar reflective properties in paints and specialty coatings. Further, these microspheres reduce the part weight and help improve fuel efficiency in automotive, aircraft, and recreational vehicles without deteriorating their physical properties.

    Expanded polymer microsphere, currently holding a small position as compared to hollow glass microspheres, is estimated to capture some shares of hollow glass microspheres in the coming years, as above 600°C temperature, hollow glass microspheres start changing their properties and physical shapes, depending upon the temperature range and duration of exposure. Expanded polymer microspheres are replacing the hollow glass microsphere, especially in some paint applications, because of their elastic property.

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    By Application Type

    The microspheres market is classified as plastics & rubber, paints & coatings, construction materials, agriculture materials, life sciences & pharmaceuticals. Paints & coatings are likely to remain the most dominant application type in terms of value, in the microspheres market during the forecast period. The spherical shape of microspheres improves flow, reduces resin demand with minimal impact on viscosity, and reduces VOC compared to conventional fillers. In contrast to white inorganic pigments, such as TiO2, microspheres efficiently reflect UV, Vis, and NIR radiation.

    In plastics & rubber, microspheres are replacing traditional fillers, such as talc, calcium carbonate, and clay, especially in the transportation sector with the increasing effort towards the use of lightweight materials to improve fuel efficiency. Microspheres are widely used with injection-molded, extrusion, and compression-molded plastics and rubbers, mostly in the form of SMCs, BMCs, SFTs, LFTs, etc.

    Regional Analysis

    In terms of regions, all regions are expected to mark a huge decline in 2020 in the wake of the rapid spread of the pandemic across regions. Despite the worst hit by COVID-19, Europe will maintain its lead in the years to come. Germany is the growth engine of the European microsphere market. Increased demand for microspheres in fuel-efficient vehicles and energy-efficient buildings in the region and the presence of several market stakeholders including paint & coating manufacturers, automotive OEMs, as well as microsphere manufacturers (Nouryon, Merck KGaA, Omya AG, Trelleborg AB, and Swarco AG) are behind the dominance of Europe in the world. The short-term market demand is challenging in the European region with Italy, Russia, the UK, and Spain being severely impacted by the coronavirus outbreak.

    Asia-Pacific, from 2021 onwards, is estimated to heal up at the fastest pace. China, India, and Japan are estimated to remain the major markets for microspheres in the region. The COVID-19 pandemic is changing the regional dynamics of the world. Several companies today are showing interest in moving away from China due to several factors including the US-China trade war.

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    Key Players

    The supply chain of this market comprises raw material suppliers, microsphere manufacturers, distributors, paint & coating manufacturers, compounders, tier players, OEMs, and end-users. The key players in the market are:

    • Kureha Corporation
    • Matsumoto Yushi-Seiyaku Co., Ltd.
    • Merck KGaA
    • Nouryon
    • Omya International AG
    • PQ Corporation
    • Sekisui Chemical Co., Ltd.
    • Sinosteel Maanshan New Material Technology Co., Ltd.
    • Swarco AG
    • The 3M Company

    Some of the Key Strategic Alliances in the market:

    • In 2019, Omya International AG acquired Termolita S.A.P.I. de C.V., a company specializing in expanded perlite products in Mexico and the USA, to strengthen its R&D capability, global distribution network, and to better serve the customers in North America.
    • In 2018, SWARCO acquired the German company: Vialux Glasperlen GmbH. The acquisition of Vialux was a strategic step towards strengthening SWARCO’s global glass bead business portfolio.
    • In 2018, Carlyle Group and GIC acquired AkzoNobel Specialty Chemicals and relaunched as Nouryon. The newly formed company is working closely with stakeholders to innovate, make a strategic investment, and develop a sustainable solution.

    Research Methodology

    This report offers high-quality insights and is 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Microspheres Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Option

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players).
    • SWOT analysis of key players (up to three players).

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    General Frequently Asked Questions (FAQs)

    Microspheres are lightweight fillers that could expand up to 120 times from their original size without significantly gaining weight, which tends to weight reduction without compromising the volume of an end product. They also save raw material costs by reducing the demand for binders/resins.

    Microspheres Market is likely to witness an impressive CAGR of 5.9% during the forecast period.

    Some of the major players in the microspheres market are The 3M Company, PQ Corporation, Nouryon, Kureha Corporation, Matsumoto Yushi-Seiyaku Co., Ltd., Merck KGaA, Omya International AG, Sekisui Chemical Co., Ltd., Sinosteel Maanshan New Material Technology Co., Ltd., and Swarco AG.

    The Microspheres Market is likely to reach US$ 6.4 billion in 2025.

    The hollow glass microsphere is likely to remain the most dominant material type in the market during the forecast period, in terms of value.

    In terms of regions, at present, Europe is the largest microsphere market.

    Paints & coatings are likely to remain the most dominant application type in terms of value, in the microspheres market during the forecast period.

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