The report on the Glass Microspheres Market published by Stratview Research covers in depth details associated with the Glass Microspheres Market.
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The Glass Microspheres Market is likely to witness a CAGR of 8.8% during the forecast period. The prime factors that are driving the Glass Microspheres Market is its superior thermal conductivity property leading to its wide usage in a wide array of industries.
Key Players
The following are the key players in the Glass Microspheres Market:
The 3M Company
PQ Corporation
Omya International AG
Sinosteel Maanshan New Material Technology Co. Ltd.
Dennert Poraver GmbH
Sigmund Lindner GmbH
Dicalite Management Group, Inc.
SWARCO AG
Silbrico Corporation
Bublon GmbH
Growth drivers and Market Value:
This report, from Stratview Research, studies the Glass Microspheres Market value and growth drivers over the trend period of 2022-27. According to the report -
The demand for glass microspheres is highly subjected to the growth of the end-use industries where these microspheres are used. The COVID-19 pandemic has hit the business world on an unprecedented scale. It has caused the closures of business operations, the stoppage of factory outputs, and the disruption to global manufacturing industries and their supply chain. Major end-use industries, such as automotive, building & construction, and consumer goods, have significantly been affected. Despite short-term demand fiasco due to the outbreak of COVID-19 pandemic, Stratview Research’s estimates suggest that the global glass microspheres market would be able to cross US$ 3.8 billion by 2025, expecting a hefty recovery after a downfall in 2021.
Segment Analysis:
Based on Application Type:
Based on the application type, the market is classified as plastics & rubber, paints & coatings, construction materials, agriculture materials, life sciences & pharmaceutical, and others. Paints & coatings are likely to remain the most dominant application, in terms of value, in the glass microspheres market during the forecast period. Glass microspheres reduce resin demand due to their lowest surface area; reduce volatile organic compound, shrinkage, and drying time by increasing solid content; provide good filling on uneven substrates; and provide lower viscosity compared to conventional fillers. In contrast to white inorganic pigments, such as TiO2, the glass microspheres efficiently reflect UV, Vis, and NIR radiations.
Based on Region:
In terms of regions, all regions are expected to mark a huge decline in 2021 in the wake of the rapid spread of the pandemic. Europe, which is currently holding the leading position, will manage its lead in the global market by 2025. Germany is the growth engine of the European glass microspheres market. Increased demand for glass microspheres in fuel-efficient vehicles and energy-efficient homes in the region is 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 with the fastest pace. China, India, and Japan are estimated to remain the major markets for glass microspheres in the region. There has been a growing presence of regional companies in the market.
Critical Questions Answered in the Report
- What are the key trends in the Glass Microspheres Market?
- How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
- What is the impact of COVID-19 on Glass Microspheres Market?
- What are the key strategies adopted by the major vendors to lead in the Glass Microspheres Market?
- What is the market share of the top vendors?
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