This 231-page strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s glass microspheres market realities and future market possibilities for the forecast period of 2020 to 2025. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for the glass microspheres market. 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 formulate growth strategies.
Glass Microspheres Market: Highlights
Glass microspheres are advanced, low-density fillers used in a variety of applications. They are available in a wide range of densities and crush strengths, capable of surviving most compounding and molding processes. These microscopic spheres are water-insoluble, chemically stable, and offer a high strength-to-weight ratio. Significantly lower impact of glass microspheres on rheology than mineral fillers make them easier to form highly filled parts with more complex geometries. They minimize molding temperature and injection pressure compared to mineral fillers. Also, the spherical shape (aspect ratio of 1.0) often improves the dimensional stability of polymer composites, resulting in less shrinkage and warpage. Glass microspheres with a specific density of less than 0.6 g/cm3 help in reducing 10%-30% weight of the plastic parts compared to the traditional fillers (talc, calcium carbonate, and clay with specific density in the range of 2.5 to 2.8 g/cm3).
The demand for glass 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 on an unprecedented scale. It has caused the closures of business operations, the stoppage of factory outputs, and the disruption to global manufacturing industries and their supply chain. Major end-use industries, such as automotive, building & construction, and consumer goods, have significantly been affected. Despite short-term demand fiasco due to the outbreak of COVID-19 pandemic, Stratview Research’s estimates suggest that the global glass microspheres market would be able to cross US$ 3.8 billion by 2025, expecting a hefty recovery after a downfall in 2020.
Glass Microspheres Market Share Analysis
Hollow glass is the Most Dominant Glass Microsphere Type
Stratview has firstly segmented the glass microspheres market based on the material type as hollow glass microsphere, foam glass granulates, perlite microsphere, and solid glass beads. 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 plastic & rubber applications, such as SMCs, injection-molded parts, packaging films, and wood composites; as well as in construction materials, such as caulks, adhesives & sealants, cultured marbles, putties, and potting compounds; and paints & coatings; and other applications such as lightweight cement slurries, syntactic foam, and buoyancy modules & risers.
Solid glass beads are currently holding the second-largest share in the market. Solid glass beads have higher densities (borosilicate glass spheres: 2.2 g/cm3, soda-lime glass spheres: 2.5 g/cm3, and barium titanate glass spheres: 4.49 g/cm3) and offer excellent retroreflection property, and are preferred in road marking application in order to lower the risk of accidents.
Paints & Coatings is the Most Dominant Application of Glass Microspheres
Based on the application type, the market is classified as plastics & rubber, paints & coatings, construction materials, agriculture materials, life sciences & pharmaceutical, and others. Paints & coatings are likely to remain the most dominant application, in terms of value, in the glass microspheres market during the forecast period. Glass microspheres reduce resin demand due to their lowest surface area; reduce 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. In contrast to white inorganic pigments, such as TiO2, the glass microspheres efficiently reflect UV, Vis, and NIR radiations.
Plastics & rubber accounted for the second-largest share after paints & coatings. Microspheres are replacing traditional fillers, such as talc, calcium carbonate, and clay, in the transportation sector with the increasing effort towards the use of lightweight materials to improve fuel efficiency.
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. Europe, which is currently holding the leading position, will manage its lead in the global market by 2025. Germany is the growth engine of the European glass microspheres market. Increased demand for glass microspheres in fuel-efficient vehicles and energy-efficient homes in the region is 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 with the fastest pace. China, India, and Japan are estimated to remain the major markets for glass microspheres in the region. There has been a growing presence of regional companies in the market.
Key Players
The supply chain of this market comprises raw material suppliers, glass microsphere manufacturers, paint/coating manufacturers, compounders, tier players, and end users. The key players in the market are the following.
- The 3M Company
- PQ Corporation
- Omya International AG
- Sinosteel Maanshan New Material Technology Co. Ltd.
- Dennert Poraver GmbH
- Sigmund Lindner GmbH
- Dicalite Management Group, Inc.
- SWARCO AG
- Silbrico Corporation
- Bublon GmbH
Some of the Key Merger & Acquisition and 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 2017, PQ Corporation has acquired Sovitec Mondial S.A. facilities in Belgium, Spain, Argentina, and France. This acquisition helped the company in strengthening its position and better serving customers outside North America.
New Product Launch in the Market:
- In 2017, PQ Corporation introduced a faster-drying road marking system, VISILOK, which can reduce traffic disruption during stripping operations and improve road worker safety by reducing the amount of time needed. It cuts waterborne dry time more than half.
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 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
The global glass microspheres market is segmented into the following categories.
Glass 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)
- Perlite Microsphere (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Solid Glass Beads (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Glass Microspheres Market, By Application Type
- Plastics & Rubber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Paints & Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Construction Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Agriculture Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Life Sciences & Pharmaceutical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Glass Microspheres Market, 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-Regional 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 or 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].
