Global Hollow Glass Microspheres Market to be Worth USD 352.8 Million by 2021, at a CAGR of 7.5%
PUNE, India, June 8, 2016 /PRNewswire/ --
According to the new Market Research Report "Hollow Glass Microspheres Market, By End-User Industry (Aerospace & Defense, Automotive, Healthcare, Oil & Gas, Others), Geography (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America) - Global Forecast to 2021", is expected to reach USD 352.8 million by 2021, at a CAGR of 7.5% from 2016 to 2021.
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"Hollow Glass Microspheres Market, By End-User Industry (Aerospace & Defense, Automotive, Healthcare, Oil & Gas, Others), Geography (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America) - Global Forecast to 2021"
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Aerospace & Defense segment to dominate the global hollow glass microspheres market
Hollow glass microspheres are widely used in the aerospace & defense industry across major regions. They are mainly used in manufacturing composites, undercoats, tires, engine parts, brake blocks, body fillers, decorative bars, damping materials, and plastics. The aerospace & defense industry uses hollow glass microspheres as void fillers for weight reduction, thermal coatings, specialty paints & coatings, and potting compounds to encapsulate electronic components. The properties of hollow glass microspheres, such as high temperature resistance, good density, clean surface chemistry, and low thermal conductivity make them suitable for use in the aerospace & defense industry.
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North America dominates the global hollow glass microspheres market, and is experiencing high growth owing to the increased demand for efficiency in many end-user industries. Product innovation in terms of quality and application development is another driving factor for the growth of hollow glass microspheres market in North America. The U.S. and Canada are expected to lead the hollow glass microspheres market in the North American region, the U.S. being the most dominant market, expected to account for a significant market share. The hollow glass microspheres market in North America is expected to witness a significant growth due to the increase in demand for advanced materials in existing and emerging applications. The market in North America is highly regulated by several associations, such as The American Glass Beads Manufacturers Associations, United States Department of Energy, and American Institute of Physicists, which play a key role in the monitoring and commercialization of hollow glass microsphere products.
Key Players of Global Hollow Glass Microspheres Market includes:
3M Company (U.S.), Trelleborg AB (Sweden), Potters Industries LLC (U.S.), Mo-Sci Corporation (U.S.), Sinosteel Maanshan New Material Technology Co., Ltd. (China), Cospheric LLC (U.S.), Dennert Poraver GmbH (Germany), Polysciences, Inc. (U.S.), CenoStar Corporation (U.S.), and others.
The global hollow glass microspheres market is segmented on the basis of end-user industries and region. Based on end-user an industry, the market has been segmented into aerospace & defense, automotive, healthcare, oil & gas, and others. The market has been further segmented on the basis of region into Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America.
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