The market research report, entitled Glass Microspheres shows good possibilities in the Glass Microspheres market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges and key players in the market.
Global Glass Microspheres Market Forecast:
The global Glass Microspheres market is forecasted to grow at a rate of xx% CAGR during the period of 2021-2026. Glass Microspheres Market will be experiencing an escalation in demand attributed to the growing usage of Glass Microspheres in the market. The Glass Microspheres market growth depends upon numerous factors which have direct or indirect impact on the demand. Our report has the summary of such factors derived using SWOT, PEST, industry life cycle and supply chain analysis. These methods help in analysing the strength of the companies and identify gaps as well as opportunities to lay out a successful roadmap which leads to higher profitability.
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Impact of COVID-19 on Glass Microspheres Market
As the world grapples with one of its greatest health pandemic, the economic and social disruption has affected millions of enterprises. The revenues have gone down in the year 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition. Stratview Research throws light on in-depth insights related to rapid alterations in the key players in each industry, growth and decline due to COVID-19, etc. The researchers at Stratview Research are regularly connecting with the clients and other key players of almost all the industries, regarding the impact of COVID-19 on their businesses.
Key Players involve in this research are:
The 3M Company
Omya International AG
Sinosteel Maanshan New Material Technology Co. Ltd.
Dennert Poraver GmbH
Sigmund Lindner GmbH
Dicalite Management Group, Inc.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Glass Microspheres Market value and growth drivers over the trend period of 2020-25. 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 2020.
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 2020 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.
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What you can explore with this report-Analyse and forecast the size of Glass Microspheres Industry market. Estimate the market shares of major segments. Showcase the development of the Glass Microspheres Industry market in different parts of the world. Know the details about the factors affecting the growth of the Glass Microspheres market by Country and Individual Segments. Know about different and crucial business strategies used by leading companies operating in the Glass Microspheres market.
Customization of the Report:
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What we do:
Stratview Research is one of the leading global Market Research agencies helping client’s tract the ever-evolving market scenarios through our customized and syndicated reports. Our reports include both quantitative and qualitative market data, gathered with the help of our across-the-board and reliable secondary sources and our in-depth interviews with the key players within the market. Our market valuations, derived from primary and secondary research, keep our clients informed about major market trends, opportunities, and challenges that may help or hamper their growth prospects in the industry