Microspheres Market is Forecasted to Reach US$ 6.4 billion in 2025, Says Stratview Research

The global microspheres market is projected to witness a growth rate of 5.9% annually from 2020 to 2025, with an anticipated size of US$ 6.4 billion by 2025, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global microspheres market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2025: US$ 6.4 billion
Growth (CAGR): 5.9% during 2020-2025
Forecast Period: 2020-2025
Trend Period: 2014-2018
Base Year: 2019
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Microspheres Market:

The global microspheres market is segmented based on microsphere type, material type, application type, and region.

Based on 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 its dominance. Solid microspheres are also used in huge quantities in paints & coatings, plastics & rubber, and life science and pharmaceuticals.

Based on material type - The 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.

Based on application type - The market is classified as plastics & rubber, paints & coatings, construction materials, agriculture materials, life sciences & pharmaceuticals, and others. 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.

To know the most attractive segments, click here:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Europe dominates the market during the forecast period. This growth outlook is majorly attributed to the following-

• 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.

Top Companies in the Microspheres Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• 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

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Microspheres Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Hollow Microspheres Market: https://www.stratviewresearch.com/828/hollow-microspheres-market.html
• Microsphere Market in the Composites Industry: https://www.stratviewresearch.com/1055/microsphere-market-in-composites-industry.html

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