Hollow Microspheres Market | Covid-19 Impact Analysis

Hollow Microspheres Market: Highlights

Hollow microspheres are low density, lightweight fillers that add volume without significantly adding weight. They offer a lot of functionalities in a very small package. Weight reduction, viscosity reduction, cost saving through lower resin consumption, enhanced mold flow, and improved impart resistance are some of the advantages offered by these microspheres when used in plastics & rubber, paint & coatings, and other applications. Hollow microspheres reduce resin demand due to their low surface area; reduced volatile organic compound, shrinkage, and drying time by increasing solid content; provide good filling on uneven substrates; and provide lower viscosity compared to conventional fillers. They are also used to reduce the weight of cement to reinforce oil wells and underwater pipe insulation.

The demand for hollow microspheres is highly subjected to the growth of the end-use industries where these microspheres are used. The COVID-19 pandemic has hit the business world in an unprecedented scale. It has caused the closures of many business operations, the stoppage of factory outputs, and the disruption to global manufacturing industries and their supply networks. Major end-use industries, such as automotive, building & construction, and consumer goods, have been significantly affected, which, in turn, are affecting the demand for microspheres including hollow microspheres.

Despite short-term demand fiasco due to the outbreak of COVID-19 pandemic, Stratview Research’s estimates suggest that the global hollow microspheres market would able to cross the landmark figure of US$ 4.0 billion by 2025, expecting a recovery after a downfall in 2020.

Hollow Microspheres Market Share Analysis

Hollow Glass Microspheres are the most dominant

Stratview has firstly segmented the hollow microspheres market based on the material type as hollow glass microsphere, foam glass granulates, cenosphere, perlite microsphere, and expanded polymer microsphere. Hollow glass microsphere is likely to remain the most preferred microsphere type in the market in the coming years. Hollow glass microspheres are increasingly finding usage in plastics & rubber applications such as SMCs, injection-molded parts, packaging films, and wood composites; in construction materials such as caulks, adhesives, and sealants, cultured marbles, putties, and potting compounds; paints & coatings; and other applications such as lightweight cement slurries, syntactic foam, and buoyancy modules and risers.

Expanded polymer microsphere, currently holding a diminutive position as compared to hollow glass microspheres, is estimated to capture some share of other hollow microspheres, especially of hollow glass microspheres in the coming years. Expanded polymer microspheres usually expand about 60 times their original size without addition of weight. Furthermore, the density of expanded polymer microsphere is relatively low than hollow glass microsphere. Expanded polymer microspheres are gaining tractions in paints & coatings, plastics & rubbers, and construction materials, such as crack fillers, polyester putties, and cultured marble.

Plastics & Rubber are the Most Dominant Applications of Hollow Microspheres

Based on the application type, the market is classified as plastics & rubber, paint & coatings, construction materials, and others. Plastics & rubber is likely to remain the most dominant application segment, in terms of value, in the hollow microspheres market during the forecast period. Plastics are replacing metals for years to reduce greenhouse gas emission and improve fuel efficiency. Now research is focused on low-density plastics that are further lighter in weight without compromising performance. Contrary to the traditional fillers (talc, calcium carbonate, and clay with specific density 2.5 to 2.8 g/cm3), hollow microspheres with specific density of less than 0.6 g/cm3 help in 10-30% plastic parts’ weight reduction. Hollow microspheres also improve productivity by reducing the energy consumption, cost, and cycle time (by 25%).

Europe will maintain its leading position

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. However, Europe, currently holding the leading position, will manage its lead in the global market by 2025. Asia-Pacific, from 2021 onwards, is estimated to heal up with the fastest pace. Germany is the growth engine of the European hollow microspheres market. Increased demand for hollow microspheres in fuel-efficient vehicles and energy-efficient homes in the region are behind the huge demand for hollow microsphere in Europe.

Key Players

The supply chain of this market comprises raw material suppliers, hollow microspheres manufacturers, and end-use industries. The key players in the market are

• The 3M Company
• Kureha Corporation
• PQ Corporation
• Omya International AG
• Nouryon (AkzoNobel)
• Sinosteel Maanshan New Material Technology Co. Ltd.
• Chase Corporation, Dennert Poraver GmbH
• Matsumoto Yushi-Seiyaku Co. Ltd.
• Sekisui Group

Some of the Key Merger & Acquisitions and Strategic Alliances in the market:

• In 2018, Carlyle Group and GIC acquired AkzoNobel Specialty Chemicals and relaunched as Nouryon. The Carlyle Group and GIC mark this transition to become an independent, global specialty chemicals leader.
• 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. These businesses are highly complementary to Omya’s strategy of offering a diversified portfolio of minerals to its clients.

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 206-page strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s market realities and future possibilities for the forecast period of 2020 to 2025. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. 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 in the formulation of growth strategies. 

This report provides market intelligence in the most comprehensive way. 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. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Market Segmentation

The global hollow microspheres market is segmented into the following categories.

Hollow Microspheres Market, By Material Type

• Hollow Glass Microsphere (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Foam Glass Granulates (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Cenosphere (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Perlite Microsphere (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Expanded Polymer Microsphere (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Hollow Microspheres Market, By Application Type

• Plastics & Rubber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Paint & Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Construction Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Hollow Microspheres, By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Japan, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Report Customization Options

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 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the material types by application type

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 the 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 at [email protected].