The ceramic microspheres market has shown significant growth in the past. Rising demand for ceramic microspheres owes to augmented demand for lightweight components, efficient, recyclables and reusable materials. Ceramic microspheres are also used in the production of mining explosives, film inks and plastics & rubber products.
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The pivotal factors driving demand for the ceramic microspheres market are growing applications of ceramic microspheres in fillers in paints, mastics, additives coatings and construction materials. However, factors hampering the market are unpredictable feedstock prices and lack of quality control in developed countries.
The ceramic microspheres market can be segmented into three major categories, including ingredients, applications and geographies. On the basis of ingredients, the market can be fragmented into ceramics and glass. The applications market can be divided into automotive materials, cosmetics, biotechnology, coating additives, oil & gas consumables, construction and aerospace & defense materials.
Geographically, the ceramic microspheres market can be segmented into North America, Asia Pacific, Europe and ROW (rest of the world). North America is the largest market due to growing demand for fiber glass in construction and automotives. Europe follows next and is estimated to experience expansion owing to Germany being the biggest producer of reinforcement fiber glass.
Asia Pacific is projected to be the most speedily developing ceramic microspheres market. This is owing to the expanding industry of construction in India and China. China being one of the biggest fiberglass producers across the world is also responsible for making Asia Pacific achieve its status and pushes further development in the region.
Information Source: Grand View Research