Global market analysis of hollow glass Microspheres
Global market analysis of hollow glass Microspheres
The global hollow glass microsphere market is expected to grow from USD 4.2 billion in 2020 to USD 9.5 billion by 2028, at a CAGR of 9.3% during the forecast period of 2021-2028.
Introduction of Hollow Glass Microspheres
Hollow glass microspheres, also known as microbubbles, glass bubbles or air bubbles, are mainly composed of a combined borosilicate-soda lime glass formulation, which has the advantages of high heat and chemical resistance and low density. These microspheres can also be coated with a conductive coating. The adjusted thickness of the conductive coating on the microbubbles provides excellent shielding and conductive properties. Electronics, medical devices, military applications, biotechnology and various other specialized fields can benefit from this. Hollow Glass Microspheres (HGMS) have an extraordinary spherical shape that provides many significant advantages, including reduced shrinkage and warpage, better flow/lower viscosity, and greater fill volume. It also allows HGMS to be easily blended into compounds that
Market Size Demand for Hollow Glass Microspheres
Hollow glass microspheres are a well-known lightweight technology for injection moulded plastics in transportation applications, and the transportation industry is expected to drive market revenues. These glass bubbles help reduce the weight of parts and improve fuel efficiency in automobiles, commercial vehicles, recreational vehicles, and aircraft while maintaining essential physical properties. Microspheres offer many advantages over other particle geometries in biomedical applications, which is expected to drive industrial growth in the healthcare industry. Construction, defence, mining, cementing and drilling fluids are among the many applications. Glass bubbles are used as sensitizers in explosive formulations to provide uniform and stable internal voids to improve detonation efficiency, stimulating their demand in the mining industry.
COVID-19 has had an impact on almost every sector of the planet. With such a high demand for this product in the transportation industry, the downturn in this sector has had a direct impact on market growth. The transportation sector is being hit hard due to nationwide embargoes imposed by several countries, severely damaging the demand for hollow glass microspheres worldwide.
Global hollow glass microspheres market distribution
The uncoated segment dominates the market and holds the largest market share of 60.7% in 2022
On the basis of product, the global hollow glass microspheres market is segmented into coated and uncoated. The uncoated segment will have the largest market share of 60.7% in 2022. Uncoated glass microspheres are in high demand in the hollow glass microsphere industry due to their low cost and advantages. The product's high-temperature operation, chemical stability, and high-temperature glass operation, along with its low density and lightweight features, make it ideal for a wide range of applications. Depending on the product, the coating category is expected to account for approximately 8% of demand throughout the forecast timeframe. Coatings can be made from a variety of metals, including nickel, silver and aluminium. Silver has many properties that make it an excellent coating for microspheres.
Global Hollow Glass Microspheres Market
The painting and coating segment dominates the market and holds the largest market share of 17.7% in 2022
On the basis of application, the global hollow glass microsphere market is segmented into plastics, paints and coatings, transportation, composites and rubber, insulation and buoyancy, and healthcare. The paints and coatings segment will hold the largest market share of 17.7% in 2022. Materials containing insulating glass and ceramic microspheres have attracted a lot of attention in recent years. These materials offer good thermal insulation properties and are mainly known for their unique properties of hollow particles that absorb and scatter thermal radiation. Due to its potential to reduce heat radiation, the product has been used in various applications in the paint and coating industry to reduce heat loss from building walls. Hollow ultra-low-density microspheres can be used as fillers in waterproof coatings to enhance a variety of coating properties. Hollow microspheres also help reflect the sun's rays and reduce the temperature of roof coverings. This helps improve the overall indoor environment of a building, even without an air conditioning system. It saves energy because it reduces the need for air conditioning. Hollow glass microspheres have made their way into everything from single-family homes to large corporations. It saves energy because it reduces the need for air conditioning. Hollow glass microspheres have made their way into everything from single-family homes to large corporations. It saves energy because it reduces the need for air conditioning. Hollow glass microspheres have made their way into everything from single-family homes to large corporations.
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