The new report by Expert Market Research titled, ‘Global Microspheres Market Analysis, Share, Size, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis global microspheres market assessing the market based on types, material, application and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.8%
The Microspheres market is likely to be driven by rising demand from the healthcare and construction industries, where microspheres are gaining traction due to their superior features and cheap price.
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Additionally, the paint and coating industries are expected to have a rise in demand in the next few years because of their diverse skills, such as raising the solid content of the coating and retaining the flow characteristics. Several constraints and hurdles face the market’s expansion. Market limitations may include rising raw material costs and a lack of quality control in developing countries.
Microspheres Industry Definition and Major Segments
Microspheres are free-flowing powders made of biodegradable proteins or synthetic polymers. Microspheres are particle spheres smaller than 200 m. Microspheres are used in many industries including medical technology, oil and gas, automotive, aerospace, cosmetics, paints and coatings, life science and biotechnology. With their controlled release, prolonged action time, and water solubility, microspheres are good microparticulate carriers.
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The major types of microspheres are:
By material, the market is divided into:
- Fly Ash (Cenospheres)
The market can be broadly categorised on the basis of its applications into:
- Construction Composites
- Healthcare and Biotechnology
- Paints and Coatings
- Cosmetics and Personal Care
- Oil and Gas
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Microspheres Market Trends
Microspheres are widely used in medicine due to their chemical and heat resistance, increased processing, thermal stability, size, and ability to distribute active ingredients. They are utilised as tracers and particles in glass, polymer, and ceramic medical devices. They are also utilised in medical device testing and development due to their regulated opacity, particle size distribution, fluorescence, electrostatic charge, and specific gravity period. The microsphere market is predicted to grow rapidly due to ongoing medical advancements.
North America currently has the largest value microspheres market, followed by Western Europe. End-use industries are growing rapidly, as is local manufacturing, and the number of domestic players. The high demand for medical technology and construction composites in Asia-Pacific is expected to drive the market. The presence of major emerging markets like China, India, and South Korea is also driving the regional microspheres market.
Key Market Players
The major players in the market Nouryon Chemical Holding B.V, Trelleborg AB, Chase Corporation, Mo SCI Corporation, 3M Co, Kureha Corporation and among others.
The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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