Rising demand from the paints and coatings sector is expected to have a positive effect over the forecast period due to the rising growth in emerging economies and the expansion of the manufacturing industry.
Dallas, United States - April 22, 2021 /MarketersMedia/ —
The global microspheres market is anticipated to cross USD 7.0 billion by 2025, growing at a CAGR of >8.5%. Increasing population coupled with infrastructure development has prompted developed as well as developing economies to strengthen their infrastructure development, which, in turn, is expected to open new avenues for microspheres industry over the coming years.
Integration across the supply chain is expected to be a key element in the industry because most manufacturers are trying to reduce costs and thus retrograde and forward integration would be necessary. The relationship between producer and supplier is getting stronger, and there are tie-ups at several rates of distribution.
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The global microspheres market is competitive in nature as a large number of well-established healthcare and automotive companies are operating in this industry. Some prominent manufacturers are 3M, Nouryon, Asia Pacific Microspheres, Bangs Laboratories Inc., Chase Corp, Cospheric LLC, Luminex Corporation, Matsumoto Yushi Seiyaku Co., Ltd, Merit Medical Systems Inc., Mo-Sci Corporation, Momentive, SIR-Spheres, and Trelleborg.
With increasing incorporation of highly advanced technologies in diagnostics and treatment procedures applied in the healthcare sector along with vast R&D outlines witnessing a revolutionizing adoption of technological aid has led to an increasing growth of the healthcare sector whilst witnessing a growth in the demand for highly advanced drug delivery systems and drug carriers is considered to a major driving factor leading to the growth of the microspheres market. Apart from the healthcare sector, the paints and coatings industry are also causing a surge in demand for microspheres owing to the functions such as maintaining the flow characteristics and increasing the solid content.
Two variations of microspheres are utilized for industrial purposes which include hollow microspheres and solid microspheres and the range of industries they are utilized in include construction and infrastructure, composites, healthcare, paintings and coatings, cosmetics, automotive and oil and gas. The utilization of the microspheres is highly dependent on the type of materials used for making with segregation as ceramic, glass, polymer, metallic and fly ash. The most dominant industrial segments with maximum requirement and need for microspheres is construction and the healthcare sector mainly due to the superior range of properties it attributes coupled with affordable price.
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The most significant influential drivers escalating the growth of the global microspheres market include the increasing economic status and growth, rising need and healthcare awareness, the ever-increasing global population, advancements in the healthcare sector along with increased expenditure and lastly the advent of research initiatives in the field of polymer industry. Specific research activities particularly targeted in the fields of Micro and nanomaterials with the objective of changing molecular compositions and properties is also a contributing factor boosting the growth of the microspheres market.
Moreover, glass microspheres are popularly used mainly due to the tight tolerance it provides essentially driving the demand from high-value delivering industries such as biomedical, automotive, microscopy, life sciences applications and high-tech equipment. The leading global player of the microspheres market is North America accounting for majority of market share primarily due to the availability of affordable healthcare services and extensively advanced prevalence of facilities coupled with the rising construction sector specifically in regions of the U.S. and Mexico is resulting is considerable expansion of the microspheres market. Europe and Asia Pacific are also seen as crucial players expected to witness exponential growth. Asia Pacific projects the fastest growth rate on the account of increasing purchasing power, government support with increasing expenditure on healthcare and shift in lifestyle.
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Key segments of the global microspheres market
End-Use Overview, 2015-2025 (USD Billion)
Healthcare
Automotive
Construction Composites
Paints & Coatings
Oil & Gas
Cosmetics & Personal Care
Others
Material Overview, 2015-2025 (USD Billion)
Glass
Polymer
Ceramic
Fly ash
Metallic
Regional Overview, 2015-2025 (USD Billion)
North America
US
Canada
Europe
Germany
UK
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Central & South America
Brazil
Rest of Central & South America
Middle East & Africa
GCC
Rest of Middle East & Africa
Table Of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Microspheres Market by End-Use
Chapter 6 Microspheres Market by Material
Chapter 7 Microspheres Market by Type
Chapter 8 Microspheres Market by Region
Chapter 9 Company Profiles
Chapter 10 Competitive Landscape
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