Hollow Microspheres Market is Forecasted to Reach US$ 4.13 Billion in 2026, Says Stratview Research

The global hollow microspheres market is projected to witness a growth rate of 6.5% annually from 2021 to 2026, with an anticipated size of US$ 4.13 billion by 2026, according to an analysis by Stratview Research

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

Click here to get a free sample of the report:
https://stratviewresearch.com/Request-Sample/828/hollow-microspheres-market.html#form

Market Statistics:
Market Size in 2020: US$ 2.75 billion
Market Size in 2026: US$ 4.13 billion
Growth (CAGR): 6.5% during 2021-2026
Leading Material Type: Hollow Glass Microsphere
Leading Application Type: Plastics and Rubber
Leading Region: Europe
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Hollow Microspheres Market:

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

Based on material type - The market is segmented as hollow glass microsphere, foam glass granulates, cenosphere, perlite microsphere, and expanded polymer microsphere. The 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 and rubber applications such as SMCs, injection-molded parts, packaging films, and wood composites. Similarly in paints and coatings, such as acrylic and industrial latex paints, solar reflective coatings, and epoxy coatings; in construction materials, such as engineered wood, kitchen sinks, putties, caulks and sealants, washbasins and bathtubs, wall, sealing, gaps, cracks, interior and exterior use on walls, lightweight cement slurries and other applications such as agriculture, buoyancy modules, and risers, deep-sea pipe, and flowline insulation.

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

To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Europe, currently holding the leading position, will manage its lead in the global market by 2026. This growth outlook is majorly attributed to the following-
· Propelled by Germany. Increased demand for hollow microspheres in fuel-efficient vehicles and energy-efficient homes in the region are the major factors behind the dominance of Europe in the market.

Asia-Pacific is projected to witness the highest growth during the forecast period with China and India being the key sources of growth engines. The region is the largest manufacturer as well as consumer of traditional fillers in the world. An expected rebound in the production of automobiles and construction activities coupled with a gradual shift from traditional fillers to hollow microspheres may drive the region's market in years to come.

North America is also estimated to generate a sizeable demand for hollow microspheres in the coming years. The USA maintains its supremacy in the market not only in the region, but also in the world; backed by the presence of a large number of raw material suppliers, hollow microsphere manufacturers, tier players, distributors, and end-users.

Hollow Microspheres Market Drivers:

Some of the key drivers listed in the report are given below.
· Hollow microspheres are widely used for a variety of applications with each of them suitable for the application. For instance, with increasing demand for lightweight materials to curb emissions from the automotive industry, hollow microspheres are widely used by the automotive industry.
· Hollow glass microspheres and expanded polymer microspheres are also used in paints & coatings and plastics & rubber applications, whereas foam glass granulates, cenosphere and perlite microspheres are more used in construction material applications.
· The regulation to reduce volatile organic compounds in paints & coatings, and the rising demand for energy-efficient buildings were the major factors that helped hollow microspheres to grow at a healthy pace till 2019. The market was expected to continue its remarkable growth in 2020.
· Hollow microspheres have witnessed a remarkable journey with their increasing adoption into various end-use industries to leverage weight reduction benefits. Owing to this, hollow microspheres dominated the overall microsphere market in 2020.

Top Companies in the Hollow Microspheres Market:

Stratview Research has identified the following companies as the top market players:
• Chase Corporation
• Dennert Poraver GmbH
• Kureha Corporation
• Matsumoto Yushi-Seiyaku Co., Ltd.
• Nouryon, Omya AG
• PQ Corporation
• Sekisui Chemical Co., Ltd.
• Sinosteel Maanshan New Material Technology Co., Ltd
• The 3M Company.

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the 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?

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