Hollow Glass Microspheres Market Product (Coated, Uncoated), By Application (Plastic, Paints & Coatings, Transportation, Composites & Rubber, Insulation and Buoyancy, Healthcare), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

  • Publish Date: Sep, 2022
  • Report ID: 419973
  • Category: Consumer Goods
  • Pages: 236
$4700

Hollow Glass Microspheres Market is expected to grow from USD 4.2 billion in 2020 to USD 8.5 billion by 2028, at a CAGR of 9.3% during the forecast period 2021-2028 owing to the rising demand of energy efficient buildings.

Bubbles, microbubbles, and micro-balloons are all terms for hollow glass microspheres. These are usually constructed of borosilicate-soda lime and have a low density, chemical resistance, and high heat capacity. The walls of glass microspheres are highly stiff, with a thickness of more than 10% of the sphere's total diameter. In composite materials like syntactic foam and lightweight concrete, hollow spheres are utilised as a lightweight filler. Syntactic foam's small weight, low heat conductivity, and superior compressive stress resistance are all thanks to microballoons. Where other forms of foam would collapse, these characteristics are used in the hulls of submersibles and deep-sea oil drilling equipment. Syntactic foams of various characteristics are created by hollow spheres of other materials: ceramic balloons, for example, can produce a light syntactic aluminium foam. Hollow spheres have a variety of applications, including the controlled storage and release of medicines and radioactive tracers, as well as research into hydrogen storage and release. Microspheres are also utilised to fill polymer resins in composites for specific properties including weight, sandability, and sealing surfaces. Shapers seal EPS foam blanks with epoxy and microballoons to provide an impermeable and easily sanded surface on which fibreglass laminates are placed when manufacturing surfboards, for example.

During the projected period, the hollow glass microspheres market is expected to develop considerably. In the future years, rising environmental concerns are expected to boost demand for hollow glass microspheres, which are recyclable and reusable. During the forecast period, product development along with increased need for the product in a variety of industries, such as aerospace, healthcare, oil & gas, and automobiles, is expected to drive demand for hollow glass microspheres. However, several issues such as fluctuating manufacturing prices due to variable raw fabric pricing and expensive R&D spending are impeding the growth of the hollow glass microspheres market. In view of the impact of COVID 19 on various economies, the global share is anticipated to decline in 2020. The cause for the current year's decline in demand is the lower number of building operations in impacted nations such as China, India, the United States, and others. Due to growing demand from industries such as healthcare, transportation, and mining, the hollow glass microspheres market is expected to develop at a rapid pace in the coming years.

This study delivers a comprehensive analysis of product, application, and region. The type segment includes coated and uncoated. The uncoated segment held the largest market share in the year 2020. Because of its low cost and great advantages, uncoated glass microspheres are in high demand in the hollow glass microspheres industry. The application segment includes plastic, paints & coatings, transportation, composites & rubber, insulation and buoyancy, healthcare. Paintings & coatings segment dominated the global glass microspheres market in the year 2020. Materials incorporating hollow glass and ceramic microspheres have gotten a lot of interest in recent years.

The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In 2020, North America accounted for the most of the global Hollow Glass Microspheres Market. North America, led by the United States, has the highest demand for hollow glass microspheres in the world. Vibration isolation in North America is expected to improve as the region's construction sector grows as a result of increased technical innovation. The hollow glass microspheres market in the area is primarily driven by increased residential development expenditure and rising demand for renovating existing structures. However, due to continuous worldwide problems, demand in the region would be lower in 2020, as construction activity will be slowed. Strict building energy efficiency standards, as well as awareness of the hollow microsphere, are driving regional demand. Furthermore, the region's thriving oil and gas industry, which is causing a steady increase in drilling operations, is another factor driving up hollow glass microspheres market demand.

Sovitech, SphereTek, 3M, Geocon Products, Sinosteel Maanshan New Material Technology Company Ltd, Kish Company Inc, Mo-Sci Corporation, and Polysciences Inc are among the main market players covered in the hollow glass microspheres market.

Hollow Glass Microspheres Market,  Analysis and Forecast, Product

  • Coated
  • Uncoated

Hollow Glass Microspheres Market, Analysis and Forecast, Application

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

Hollow Glass Microspheres Market,  Analysis and Forecast, Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Sweden
    • Netherland
    • U.K.
    • Italy
    • Spain
    • Turkey
    • Switzerland
    • Belgium
    • Rest Of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Singapore
    • Malaysia
    • Thailand
    • Indonesia
    • Philippines
    • Rest Of APAC
  • South America
    • Brazil
    • Argentina
    • Peru
    • Colombia
    • Rest Of South America
  • Middle East And Africa
    •  UAE
    •  Saudi Arabia
    •  Egypt
    •  Nigeria
    •  South Africa
    • Rest Of Mea

Report Description:

  • The base year for the study has been considered 2020, historic year 2018 and 2019, the forecast period considered is from 2021 to 2028.
  • The study delivers a comprehensive analysis of global market for all segments and region.
  • The report offers in-depth analysis of driving factors, opportunities and restraints for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2021 to 2028.
  • Porter’s Five Forces model is used in order to recognize the competitive scenario in the market. This report incorporates the industry analysis which is focused on providing an extensive view of the market.
  • The study also includes attractiveness analysis of all segments and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunist for understanding the future growth of the market.
  • The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Product
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends
5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising environmental concerns
          5.2.2. Increased need for the hollow glass microspheres in a variety of industries
    5.3. Restrains
          5.3.1. Impact of COVID 19 on various economies
    5.4. Opportunities
          5.4.1. Growing demand from industries such as healthcare, transportation, and mining
6. Global Hollow Glass Microspheres Market Analysis and Forecast, By Product
    6.1. Segment Overview
    6.2. Coated
    6.3. Uncoated
7. Global Hollow Glass Microspheres Market Analysis and Forecast, By Application
    7.1. Segmant Overview
    7.2. Plastic
    7.3. Paints & Coatings
    7.4. Transportation
    7.5. Composites & Rubber
    7.6. Insulation and Buoyancy
    7.7. Healthcare
8. Global Hollow Glass Microspheres Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa
9. Global Hollow Glass Microspheres Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in Global Hollow Glass Microspheres Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions
10. Company Profiles
    10.1. Sovitech
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. SphereTek
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. 3M
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Geocon Products
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Sinosteel Maanshan New Material Technology Company Ltd
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Kish Company Inc.
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Mo-Sci Corporation
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Polysciences Inc
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis

List of Table

1. Global Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

2. Global Coated, Hollow Glass Microspheres Market, By Region, 2018-2028 (USD Billion) 

3. Global Uncoated, Hollow Glass Microspheres Market, By Region, 2018-2028 (USD Billion)

4. Global Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

5. Global Plastic, Hollow Glass Microspheres Market, By Region, 2018-2028 (USD Billion)

6. Global Paints & Coatings, Hollow Glass Microspheres Market, By Region, 2018-2028 (USD Billion)

7. Global Transportation, Hollow Glass Microspheres Market, By Region, 2018-2028 (USD Billion)

8. Global Composites & Rubber, Hollow Glass Microspheres Market, By Region, 2018-2028 (USD Billion)

9. Global Insulation and Buoyancy, Healthcare, Hollow Glass Microspheres Market, By Region, 2018-2028 (USD Billion)

10. Global Healthcare, Hollow Glass Microspheres Market, By Region, 2018-2028 (USD Billion)

11. North America Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

12. North America Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

13. U.S. Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

14. U.S. Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

15. Canada Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

16. Canada Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

17. Mexico Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

18. Mexico Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

19. Europe Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

20. Europe Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

21. Germany Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

22. Germany Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

23. France Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

24. France Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

25. U.K. Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

26. U.K. Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

27. Italy Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

28. Italy Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

29. Spain Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

30. Spain Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

31. Asia Pacific Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

32. Asia Pacific Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

33. Japan Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

34. Japan Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

35. China Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

36. China Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

37. India Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

38. India Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

39. South America Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

40. South America Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

41. Brazil Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

42. Brazil Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

43. Middle East and Africa Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

44. Middle East and Africa Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

45. UAE Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

46. UAE Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

47. South Africa Hollow Glass Microspheres Market, By Product, 2018-2028 (USD Billion)

48. South Africa Hollow Glass Microspheres Market, By Application, 2018-2028 (USD Billion)

List of Figures 

1. Global Hollow Glass Microspheres Market Segmentation

2. Global Hollow Glass Microspheres Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Hollow Glass Microspheres Market Attractiveness Analysis By Product

9. Global Hollow Glass Microspheres Market Attractiveness Analysis By Application 

10. Global Hollow Glass Microspheres Market Attractiveness Analysis By Region

11. Global Hollow Glass Microspheres Market: Dynamics

12. Global Hollow Glass Microspheres Market Share By Product (2021 & 2028)

13. Global Hollow Glass Microspheres Market Share By Application (2021 & 2028)

14. Global Hollow Glass Microspheres Market Share by Regions (2021 & 2028)

15. Global Hollow Glass Microspheres Market Share by Company (2020)

Research Methodology

Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.

Market research is valuable because of the following reasons:

  • Market research helps businesses strengthen a company’s position
  • Market research helps in minimizing the investment risks associated with the businesses in any industry vertical
  • Market research helps in identifying the potential threats and opportunities associated with the business industry
  • Market research aids in spotting the emerging trends and facilitates strategic planning in order to stay ahead in the competition

Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.

Our market research process involves with the four specific stages.

  • Data Collection
  • Data Synthesis
  • Market Deduction & Formulation
  • Data Screening & Validation

Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:

  • Primary Research: By conducting primary research, it involves with the two types of data gathering; exploratory and specific. Exploratory data is open-ended and helps us to define a particular problem involving surveys, and pilot study to the specific consumer group, knowing their needs and wants catering to the industry related product/service offering. Explanatory data gathering follows with the bit of unstructured way. Our analyst group leads the study by focusing on the key crowd, in this manner picking up bits of knowledge from them. In light of the points of view of the clients, this data is used to plan advertise techniques. In addition, showcase overviews causes us to comprehend the current scenario of the business. Specific data gathering on the hand, involves with the more structured and formal way. The primary research usually includes in telephonic conversations, E-mail collaborations and up close and personal meetings/interviews with the raw material suppliers, industrial wholesalers, and independent consultants/specialists. The interviews that we conduct offers important information on showcase size and industry development patterns. Our company likewise conducts interviews with the different business specialists so as to increase generally bits of knowledge of the business/showcase.
  • Secondary Research: The secondary research incorporates with the data gathering from the non-profit associations and organizations, for example, World bank, WHO, investor relations and their presentations, statistical databases, yearly(annual reports) reports, national government records, factual databases, websites, articles, white papers, press releases, blogs and others. From the annual report, we deduce an organization's income/revenue generation to comprehend the key product segment related to the market. We examine the organization sites and implement product mapping strategy which is significant for determining the segment revenue. In the product mapping technique, we choose and categorize the products offered by the companies catering to the industry specific market, derive the segment revenue for each of the organizations to get the market estimation. We also gather data & Information based on the supply and demand side of the value chain involved with the domain specific market. The supply side denotes the distributors, wholesalers, suppliers and the demand side denotes the end-consumers/customers of the value chain. The supply side of the market is analyzed by examining the product growth across industry in each of the region followed by its pricing analysis. The demand side is analyzed by the evaluating the penetration level and adoption rates of the product by referring to the historical/past data, examine the present usage and forecasting the future trends. 
  • Purchased Database: Our purchased data provides insights about the key market players/companies along with their financial analysis. Additionally, our data base also includes market related information. 
    • We also have the agreements with various reputed data providers, consultants and third party vendors who provide information which are not limited to:
      • Export & Import Data
      • Business Information related to trade and its statistics
      • Penetration level of a particular product/service based on geography mainly focusing on the unmet prerequisites of the customers.
  • In-house Library: Apart from these third-party sources, we have our in-house library of quantitative and qualitative data & information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, internal audit reports, historic databases, archives and journal publications. Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those particular cases, we utilize our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopts a robust research technique in order to deduce the market size and its estimates:
  • Examining demographic along with psychographic segmentation for market evaluation
  • Analyzing the macro and micro-economic indicators for each demography
  • Evaluating the current industry trends popular in the market.

Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:

  • Information Screening: Information screening is the way toward examining information/data gathered from the sources for errors/mistakes and amending it before data integration process. The screening includes in looking at raw information, identifying and distinguishing mistakes and managing missing information. The reason for the information screening is to ensure information is effectively entered or not. Our organization utilizes objective and precise information screening grades through repetitive quality checks.
  • Data Integration: The data integration method involves with the incorporation of numerous information streams. The data streams is important so as to deliver investigate examines that give overall market scenario to the investors. These information streams originate from different research contemplates and our in house database. After the screening of the information, our analysts conduct efficient integration of the data streams, optimizing connections between integrated surveys and syndicated data sources. There are two research approaches that we follow so as to coordinate our information; top down methodology and bottom up methodology. 
    • Top-down analysis generally refers to using broad factors as a basis for decision making. The top-down approach helps in identifying the overall market scenario along with the external and internal factors effecting the market growth.
    • The bottom-up approach takes a completely different approach. Generally, the bottom-up approach focuses its analysis on micro attributes and specific characteristics of the domain specific market.

Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.

This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.

Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.

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