Stratview Research announces the launch of a new research report on Hollow Microspheres Market by Material Type (Hollow Glass Microsphere, Foam Glass Granulates, Cenosphere, Perlite Microsphere, and Expanded Polymer Microsphere), by Application Type (Plastics & Rubber, Paint & Coatings, Construction Materials, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.
This 206-page strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s hollow microspheres market realities and future market possibilities for the forecast period of 2020 to 2025. The report segments and analyzes the market in the most detailed manner 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 and investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Hollow Microspheres Market: Highlights from the Report
Hollow microspheres are low density, lightweight fillers that add volume without significantly adding weight. They offer a lot of functionalities in a 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, 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.
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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.
Based on the application type, 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%).
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In terms of regions, all regions are expected to mark a huge decline in 2020 in the wake of 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.
The supply chain of this market comprises raw material suppliers, hollow microspheres manufacturers, and end-use industries. 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. And Sekisui Group.
Some of the recent merger & acquisitions and strategic alliances in the market:
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 on 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:
This report studies the hollow microspheres market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:
Hollow Microspheres Market, By Material Type
Hollow Microspheres Market, By Application Type
Hollow Microspheres, By Region
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