The Global Hollow Glass Microspheres market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2028. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Hollow glass microspheres are a new type of material developed widely in recent years with excellent performance. The main components of the product are borosilicates, hollow spheres with a particle size of 10-250 μm and a wall thickness of 1-2 μm. This product has the advantages of light weight, low thermal conductivity, high strength and good chemical stability. After special treatment, it has the properties of lipophilic and hydrophobic, and it is very easy to disperse in organic materials such as resins. Hollow glass microspheres are widely used in glass fiber reinforced plastics, artificial marble, artificial agate, and other composite materials, and have obvious weight-reducing effect and sound insulation effect, so that the products have good crack resistance and reworkability. Widely used in aviation, aerospace, new high-speed trains, luxury yachts, thermal insulation coatings, bowling, and other areas, and played a unique good role.
First of all, the increasing demand for hollow glass microspheres drives the market size structural properties such as recyclability, reusability increase demand for efficiency, and modernization of infrastructure. Second, 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. Asia Pacific is growing at a significant rate as these materials have started gaining prominence in this region. The growth in this region can be attributed to increased consumption of hollow glass microspheres in China.
The Global Hollow Glass Microspheres Market Size was estimated at USD 209.43 million in 2021 and is projected to reach USD 349.72 million by 2028, exhibiting a CAGR of 7.60% during the forecast period.
