Hollow Glass Microspheres Market Size By Product (Uncoated, Coated [Silver, Nickel, Aluminum, Titanium Dioxide]), By Application (Paints & Coatings, Plastic, Composites & Rubber, Transportation, Insulation and buoyancy, Healthcare), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jul 2020  |  Report ID: GMI256  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 164   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Hollow Glass Microspheres Market size was USD 1,938.3 million in 2019 and will grow at a CAGR of 4.4% from 2020 to 2026. Rising demand of energy efficient buildings and reducing greenhouse gas emission will positively impact on increase product demand over the forecast timeframe.
 

Hollow glass microspheres are also known as bubbles, microbubbles and micro-balloons. These are typically made of borosilicate-soda lime and offer various benefits such as low density, chemical resistance and high heat. Glass microspheres walls are quite rigid and have a thickness of over 10% of overall diameter of a sphere.
 

Hollow Glass Microspheres Market Statistics
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Based on application, the market is classified into paints & coatings, plastics, composites & rubber, transportation, insulation & buoyancy, healthcare, and others. The industry is likely to witness a high demand in Russia, China, Brazil, and India owing to the growing manufacturing sector and heavy infrastructure spending. Latin America is also forecast to achieve a high growth rate over the forecast period owing flourishing to oil & gas industry in the region, which offer lucrative growth opportunities to the major players of global hollow glass microspheres market.
 

Increasing demand for reduction of greenhouse gas emissions is the major factor responsible for rising adoption of hollow microsphere systems worldwide. Multiple countries have implemented a variety of policies for mitigating greenhouse gas (GHG) emissions. Various countries have enacted legislation by establishing greenhouse gas emissions reduction, which requires state agencies to report GHG emissions. Several American states, such as North Carolina, New Mexico and Pennsylvania, have recently committed for reduction of GHG reduction emissions through executive action plans.
 

In the light of COVID 19 impact on various economies, global    share is also expected witness a downfall in the year 2020. The reason behind declining demand in the current year is due to less number of construction activities in impacted countries such as China, India, the U.S. and many others. Lack of cash flow and trade barriers are few other concerns causing disruption in raw material supply which in turn is impacting overall supply chain.
 

COVID-19 has impacted almost evert industry throughout the globe. As the product has a huge demand from the transportation industry, a dip in the transportation sector is directly impacting market growth. Due to nationwide lockdown in many countries, the transportation sector is going through a bad phase, negatively impacting the hollow glass microspheres market demand across the world. The paints & coatings industry has also been going through hard times due to declining construction activities amid the COVID-19 pandemic.
 

Hollow Glass Microspheres Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 1,938.3 Million (USD)
Historical Data for: 2015 to 2018 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.4% 2026 Value Projection: 2,418.8 Million (USD)
Pages: 164 Tables, Charts & Figures: 189
Geographies covered (19): U.S, Canada, Germany, UK, Italy, France, Spain, Brazil, Mexico, South Africa, Saudi Arabia, UAE, India, China, Japan, Australia, Indonesia, Malaysia
Segments covered: Product, Application, Region
Companies covered (13): Cospheric LLC, , Potters Industries LLC , Trellborg AB , Cenostar Corporation, Ceno Technologies, , Kish Compnay Inc, Geocon Products, Mo-Sci Corporation, Sovitech, , Polysciences Inc, , Sinosteel Manshaan New Materials Tehcology Company Ltd, SphereTek, Inc,, 3M
Growth Drivers:
  • Increasing demand for energy efficient buildings
  • Need for reducing environmental footprint
Pitfalls & Challenges:
  • Lack of quality control in emerging economies

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Uncoated hollow glass microsphere capturing a huge market

  Hollow Glass Microspheres Market by Product

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Multiple types of hollow glass microspheres are available in the industry depending on the application of the product in specific industry. these microspheres can be coated and uncoated. Uncoated hollow microsphere will hold a majority share of over 90% in 2026. Uncoated glass microsphere has a high demand in the hollow glass microspheres market due to its less price and high benefits.
 

High temperature operation, chemical stability, & high temperature operation of glass, low density, as well as lightweight functionality make the product highly in a wide range of applications.
 

Paints and coatings as the major application segment

  Hollow Glass Microspheres Market by Application

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Hollow microsphere systems have ample applications in paints & coatings, transportation, healthcare, and many more. Hollow glass microspheres market share from paints & coatings applications was close to 30% in 2019. In recent years, materials containing hollow glass and ceramic microspheres have been attracting considerable attention. These materials have quite good heat-insulation properties, which are mostly known by their special characteristics of absorption and scattering of thermal radiation by hollow particles.
 

The product has been used in various applications in paints and coatings sector for reducing heat loss from the walls of buildings attributed to the ability to cause a decline in thermal radiations.
 

Hollow ultra-low-density microspheres can be used as fillers in waterproof coatings to improve a number various properties of applied coating. Hollow microspheres also help in reflecting solar radiations and hence reducing the temperature in roof coatings. This can help in improving the overall indoor climate of buildings even without any air conditioning system. It saves energy by reducing the requirement for air conditioning. From single homes to large industries, the hollow glass microspheres have established its presence.
 

North America registered largest product demand across global hollow glass microsphere market

  Hollow Glass Microspheres Market by Region

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North America has the largest share in demand of hollow glass microsphere worldwide led by the U.S. Growing construction sector in the region due to increase in technological innovation is projected to boost vibration isolation in North America. The hollow glass microspheres market in the region is mainly, driven by rising investment in residential construction segment and growing demand for remodeling the old buildings. However, due to ongoing global crises, the demand in region will be on a lower side in the year 2020 due to dampening construction activities.
 

The regional demand is led by strict regulations regarding energy efficiency of buildings coupled with awareness of hollow microsphere. Furthermore, flourishing oil & gas industry, which is triggering continuous hike in drilling activities is another reason responsible for increased the hollow glass microspheres market demand from the region.
 

Product innovation and new launches to escalate the business growth

Many industry players are keen to tap a larger market share and are opting for various strategies to achieve the goals. For instance, Recently, 3M introduced a new line of glass microsphere with high strength to density ratio and lightweight characteristic. This is known as Plug n Play weight reduction solution.
 

3M glass bubbles are weight reducing fillers, which can be incorporated into multiple polymers into articles by, blow molding, thermoforming, sheet casting, etc. Its strategic initiatives and established brand name in the hollow glass microspheres industry are expected to increase its market share in the near future
 

The hollow glass microspheres market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD thousand and volume in tons from 2015 to 2026, for the following segments:

By Product

  • Uncoated
  • Coated
    • Silver
    • Nickel
    • Aluminum
    • Titanium dioxide
    • Others

By Application

  • Paints & Coatings
  • Plastic, Composites & Rubber
  • Transportation
  • Insulation and buoyancy
  • Healthcare
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Frequently Asked Questions (FAQ) :

According to the report published by Global Market Insights Inc., the hollow glass microspheres business is supposed to attain $2,418.8 million by 2026.
Increasing demand for energy efficient buildings and need for reducing environmental footprint are major factors expected to drive the growth of global market.
Cospheric LLC, , Potters Industries LLC , Trellborg AB , Cenostar Corporation, Ceno Technologies, , Kish Compnay Inc, Geocon Products, Mo-Sci Corporation, Sovitech, , Polysciences Inc, Sinosteel Manshaan New Materials Tehcology Company Ltd, SphereTek, Inc,, 3M are some of the top contributors in the industry.
The paint and coatings application segment registered a major share in 2019 and is projected to record a remarkable growth rate throughout the forecast period.

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Premium Report Details

  • Published Date: Jul 2020
  • Pages: 164
  • Tables: 165
  • Charts / Figures: 24
  • Companies covered: 13
  • Countries covered: 19

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