What is Global Solid Buoyancy Material (SBM) Market?
The Global Solid Buoyancy Material (SBM) Market is a vast and dynamic field that encompasses a wide range of materials used to provide buoyancy in various applications. These materials are designed to resist compression at great depths, making them ideal for use in a variety of industries, including marine, offshore oil exploration, and scuba diving equipment. The SBM market is a global entity, with key players spread across different regions, contributing to the market's growth and development. The market's value was pegged at US$ 623.1 million in 2022, and it is projected to reach US$ 773.5 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 3.1% from 2023 to 2029.
Chemical Foam Buoyancy Material, Hollow Glass Bead Buoyancy Material, Composite Lightweight Buoyancy Material in the Global Solid Buoyancy Material (SBM) Market:
The Global Solid Buoyancy Material (SBM) Market is segmented into three main types: Chemical Foam Buoyancy Material, Hollow Glass Bead Buoyancy Material, and Composite Lightweight Buoyancy Material. Each of these materials has unique properties that make them suitable for specific applications. Chemical Foam Buoyancy Material is a type of SBM that is made by introducing gas bubbles into a polymer matrix. This material is lightweight and has excellent buoyancy characteristics, making it ideal for use in applications where weight is a critical factor. Hollow Glass Bead Buoyancy Material, on the other hand, is made by incorporating hollow glass beads into a polymer matrix. This material has excellent compressive strength and buoyancy characteristics, making it suitable for use in deep-sea applications. Lastly, Composite Lightweight Buoyancy Material is a type of SBM that combines the best properties of the other two types. This material is lightweight, has excellent buoyancy characteristics, and is resistant to compression, making it ideal for use in a variety of applications.
Scuba Diving Equipment, Offshore Oil Exploration, Ocean Buoy, Other in the Global Solid Buoyancy Material (SBM) Market:
The Global Solid Buoyancy Material (SBM) Market finds its application in several areas such as Scuba Diving Equipment, Offshore Oil Exploration, Ocean Buoy, and others. In Scuba Diving Equipment, SBM is used to create buoyancy compensators, which are essential pieces of equipment that help divers maintain neutral buoyancy underwater. In Offshore Oil Exploration, SBM is used to create buoyancy modules that are used to support the risers and drilling equipment. These modules are designed to resist the high pressures found at great depths, making them an essential part of any offshore oil exploration operation. In Ocean Buoys, SBM is used to create buoyancy aids that help keep the buoys afloat. These aids are designed to resist the harsh conditions found in the open ocean, making them an essential part of any ocean buoy system.
Global Solid Buoyancy Material (SBM) Market Outlook:
The global Solid Buoyancy Material (SBM) market, as per the recent data, was valued at US$ 623.1 million in 2022. The market is expected to grow and reach a valuation of US$ 773.5 million by 2029. This growth trajectory suggests a Compound Annual Growth Rate (CAGR) of 3.1% during the forecast period from 2023 to 2029. The market is dominated by the top three manufacturers who collectively hold a share of over 45%. In terms of product segmentation, Hollow Glass Bead Buoyancy Material emerges as the largest segment, commanding a share of over 75%. This dominance can be attributed to the material's superior compressive strength and buoyancy characteristics, making it a preferred choice for deep-sea applications.
| Report Metric | Details |
| Report Name | Solid Buoyancy Material (SBM) Market |
| Accounted market size in 2022 | US$ 623.1 million |
| Forecasted market size in 2029 | US$ 773.5 million |
| CAGR | 3.1% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Trelleborg, Matrix, Balmoral, Engineered Syntactic Systems (ESS), Diab Group, Bmtl-HF, Gurit, Floatex, Syntech, Marine Chemical Research Institute, Hubei Haishan Technology Co.,Ltd., CBM Future, AMMT, Qingdao Evergreen Maritime Co.,Ltd |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
