NEW
YORK, June 19, 2024 /PRNewswire/ -- The
global hollow microspheres market size is estimated to
grow by USD 2.30 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of over 9.91% during the forecast
period. Rising spending on infrastructure
development is driving market growth, with a trend
towards increasing demand for porous wall hollow glass
microspheres. However, volatility in raw material prices
poses a challenge. Key market players include 3M Co., Akzo Nobel NV, BASF SE, Celonova
Biosciences Inc., Chase Corp., Cospheric LLC, Dennert Poraver GmbH,
DiaSorin SpA, H.B. Fuller Co., Malayan Adhesives and Chemicals Sdn
Bhd, Matsumoto Yushi Seiyaku Co. Ltd., Momentive Performance
Materials Inc., Mo-Sci Corp., Nanjing Jianzun Glass Microsphere
Plant Co. Ltd., Polysciences Inc., Q Group Holdings Inc., Sigmund
Lindner GmbH, Spherotech Inc., The Kish Co. Inc., and Trelleborg
AB.
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report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Material (Glass and
Ceramic and others), End-user (Medical technology, Construction
composites, Biotechnology and medicine, Cosmetics and personal
care, and Others), and Geography (North America, Europe, APAC,
Middle East and Africa, and South America)
|
Region
Covered
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Key companies
profiled
|
3M Co., Akzo Nobel NV,
BASF SE, Celonova Biosciences Inc., Chase Corp., Cospheric LLC,
Dennert Poraver GmbH, DiaSorin SpA, H.B. Fuller Co., Malayan
Adhesives and Chemicals Sdn Bhd, Matsumoto Yushi Seiyaku Co. Ltd.,
Momentive Performance Materials Inc., Mo-Sci Corp., Nanjing Jianzun
Glass Microsphere Plant Co. Ltd., Polysciences Inc., Q Group
Holdings Inc., Sigmund Lindner GmbH, Spherotech Inc., The Kish Co.
Inc., and Trelleborg AB
|
Key Market Trends Fueling Growth
The global hollow microspheres market is experiencing growth due
to the rising demand for porous wall hollow glass microspheres
(PWHGM). These microspheres offer unique benefits, including the
ability to adjust pore structure by modifying temperature. PWHGM is
utilized in various applications, such as hydrogen storage
materials, catalysts, and microsphere inks. In hydrogen storage,
PWHGM facilitates selective hydrogen gas absorption. Additionally,
the increasing need for anti-counterfeiting technologies is driving
the use of PWHGM inks, further boosting market expansion.
The Hollow Microspheres market is experiencing significant
growth due to their increasing usage in various industries. These
microspheres are used in polymers, plastics, cosmetics, and
construction materials. The use of hollow microspheres in concrete
makes it stronger and lighter. In the medical field, they are used
for drug delivery and imaging. The use of these microspheres in
coatings provides protection against corrosion. The market is
driven by the demand for lightweight and high-performance
materials. The use of advanced technologies in manufacturing hollow
microspheres is also contributing to their growth. The market is
expected to continue its upward trend in the coming
years.
Research report provides comprehensive data on impact of trend.
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Market Challenges
- The global hollow microspheres market relies heavily on raw
materials like lactides and glycolides sourced from the oil and gas
industry. Crude oil price fluctuations impact market performance
and demand, with positive economic outlooks reducing demand
volatility. Raw material costs vary due to availability and pricing
structures, leading to differential costs worldwide. Volatility in
raw material prices negatively affects manufacturer margins,
potentially hindering market growth during the forecast
period.
- The Hollow Microspheres market faces several challenges in its
growth. One major challenge is the high production costs due to
complex manufacturing processes. Another challenge is the limited
availability of raw materials required for production. The use of
certain chemicals in the production process also poses
environmental concerns, necessitating the development of
eco-friendly alternatives. Additionally, the market is highly
competitive, with numerous players vying for market share. The need
for continuous research and development to improve product quality
and performance is essential to stay competitive. The market also
requires regulatory compliance, with stringent regulations
governing the production and use of Hollow Microspheres in various
industries. Overall, the Hollow Microspheres market presents
significant opportunities, but also requires innovative solutions
to overcome these challenges.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This hollow microspheres market report extensively covers market
segmentation by
- Material
- 1.1 Glass
- 1.2 Ceramic and others
- End-user
- 2.1 Medical technology
- 2.2 Construction composites
- 2.3 Biotechnology and medicine
- 2.4 Cosmetics and personal care
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Glass- Hollow microspheres, also known as
micro balloons, are made from soda lime borosilicate glass. These
lightweight, buoyant, and rigid spheres have distinctive features
such as waterproofness, non-toxicity, insulation, and chemical
stability. They are used as additives in various industries,
including cosmetics, adhesives, and construction composites,
providing cost advantages through increased volume. The global
market for hollow microspheres is driven by their use in
construction composites, which hold the largest share, and the
growing medical technology sector. Vendors focus on research and
development to create advanced products for end-users.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Hollow Microspheres Market encompasses various types of
microspheres, including hollow glass microspheres and polymer
microspheres. These microspheres find extensive applications in
diverse industries such as Construction Materials, where they are
used in SMCs (Sheet Molding Compounds) for injection-molded parts
and in wood composites for improved insulation properties. In the
realm of Transportation, hollow microspheres are utilized in
energy-efficient buildings for insulation and in aircraft
manufacturing for lightweight materials. Additionally, they are
employed in packaging films for solar reflective properties and in
deep-sea pipes for flowline insulation. Hollow microspheres, such
as Cenosphere and Perlite microspheres, also serve as crack
fillers, polyester putties, and additives in cultured marble and
composites. The market for these microspheres is influenced by
market recoveries and the demand for energy efficiency and reduced
greenhouse gas (GHG) emissions. The research firm, Stratview,
reports on the latest trends and forecasts for the Hollow
Microspheres Market in Pennsylvania and beyond.
Market Research Overview
The Hollow Microspheres Market refers to the global trade of
hollow microspheres, which are small, hollow spheres made of
various materials such as silica, metal, and polymers. These
microspheres are used in various industries including
pharmaceuticals, cosmetics, and electronics due to their unique
properties like high surface area, low density, and excellent
insulation. They find applications in drug delivery systems,
catalyst supports, and as fillers in composite materials. The
market for hollow microspheres is driven by the increasing demand
for lightweight and high-performance materials in various end-use
industries. The market is expected to grow significantly in the
coming years due to the continuous research and development in the
field of hollow microspheres technology. The production process
involves the use of techniques such as emulsion polymerization,
sol-gel, and microemulsion. The market is segmented based on
material type, size, shape, and end-use industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Material
-
- End-user
-
- Medical Technology
- Construction Composites
- Biotechnology And Medicine
- Cosmetics And Personal Care
- Others
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio