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Hollow Glass Microspheres Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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Hollow glass microspheres are modern material evolved extensively in current years with enhanced performance. The major additives of the product are borosilicate. Hollow spheres have size of 10–250 μm and a wall thickness of 1–2 μm. They are suitable to be used in numerous packages inclusive of thermoplastics, rubber & elastomers, abrasive substances, sheet molding compounds, cryogenic generation, thermosets-epoxy, acoustic & thermal insulating substances, polyurethanes, plastisol, and repair compounds. Furthermore, these act as a sensitizer for emulsion explosives, as they possess excessive comprehensive properties. The aerospace & defense industry uses hollow glass microspheres as void fillers for weight reduction, thermal coatings, and distinctiveness paints & coatings. It is additionally used to assemble low-density drilling fluid and occasional density excessive strength cement slurry in oil and fuel extraction sectors. Rise in modernization coupled with development of infrastructure are expected to boost the growth global hollow glass microspheres market during the forecast period.
Market scope and structure analysis
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Million (USD) |
Segments covered | Type, Application, and Region |
Regions covered |
|
Companies covered | Include 3M Company, AkzoNobel, Cospheric, DennertPoraver, EKO Export, Induchem Holding, Merit Medical Systems, Mo Sci, Momentive Performance Materials, Phosphorex Incorporated, Polysciences, Sigmund Lindner, Sinosteel Maanshan Institute of Mining Research Company, Sunjin Chemical, and TRELLEBORG |
Segmentation by type
- Glass
- Others
Segmentation by application
- Automotive
- Aerospace & Defense
- Building & Construction
- Paints & Coatings
- Electrical & Electronics
- Cosmetics & Personal Care
- Healthcare
COVID-19 scenario analysis
The outbreak of coronavirus has reduced the global demand for various consumer goods across the globe. The travel ban has further reduced the demand for fuel, which further declines the demand for automobiles. Many automobiles and aviation industries have halted their manufacturing process due to low market demand. The supply chain disruptions have further created havoc among manufacturers due to lack of raw materials for production.
Market scenario analysis
Hollow glass microspheres market is anticipated to grow significantly during the forecast period. Increase in environmental concerns is predicted to fuel the demand for hollow glass microspheres in coming years, as they are recyclable and reusable. Product development coupled with increase in demand for the product in numerous industries, including aerospace, healthcare, oil & gas, automobile are anticipated to boost the demand for hollow glass microspheres during the forecast period. However, various factors hindering the growth of the hollow glass microspheres market include fluctuations in manufacturing costs due to unstable raw cloth costs and high R&D expenditure.
Market drivers
Surge in adoption of hollow glass microspheres in deep sea exploration is expected to propel the market growth during the forecast period. The industry specializes in R&D activities to gain competitive aspect. Weightlessness, low thermal conductivity, smooth mobility, and excessive compressive electricity of hollow glass microspheres are expected to drive their demand during the forecast period. Product innovation and technological development are other factors contributing toward the global market growth.
Regional insights
North America is anticipated to serve as a lucrative market for hollow glass microspheres. U.S. and Canada are predicted to dominate the hollow glass microspheres market in the region. Asia-Pacific is developing at a significant rate, as these materials have started gaining prominence in this region. Moreover, flourishing manufacturing industries and heavy spending on infrastructure boost the market growth during the forecast period.
Key benefits of the report
- This study presents the analytical depiction of the global hollow glass microspheres industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hollow glass microspheres market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global hollow glass microspheres market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global hollow glass microspheres market research report:
- Which are the leading players active in the global hollow glass microspheres market?
- What the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
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Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
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