Microspheres Market Scope, Demand and Supply Chain Analysis till 2024

Posted on 2021-09-08 by researchinsights in Chemicals // 0 Comments

San Jose, California , USA, Sept 08, 2021 — /EPR Network/ —

The global Microspheres Market was estimated at USD 3.2 billion in 2015 and is anticipated to grow at a CAGR of 10.4% from 2017 to 2025. The growth of market can be attributed to the rising demand for advanced drug delivery systems and drug transportation. In addition, increasing demand from paints and coatings segment on account of advantageous properties such as rising solid content rate and flow maintenance.

Microspheres market is achieving great momentum owing to increasing demand from various application industries such as healthcare and construction. Superior properties and low price of microsphere are one of the key factor driving the market growth. This rise in the penetration of microspheres in healthcare application is credited to growing drug delivery system demand due to its superior properties such as reduced toxicity, improved efficacy, and improved patient compliance.

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Type Outlook (Revenue, USD Million, 2014 – 2025)

Hollow
Solid

Materials Outlook (Revenue, USD Million, 2014 – 2025)

Glass microspheres
Polymer microspheres
Ceramic microspheres
Fly Ash (Cenospheres) Microspheres
Metallic Microspheres

Application Outlook (Revenue, USD Million, 2014 – 2025)

Construction Composites
Healthcare and Biotechnology
Paints & Coatings
Cosmetics & Personal Care
Oil & Gas
Automotive
Others

The major players in the market includes 3M, Sigmund Linder, AkzoNobel Expancel, Luminex Corp, Potters Industries LLC, Momentive Performance Materials Inc. and Chase Corp. The market participants are heading in the way of expansion owing to the robust growth in paints and coatings, automotive, construction composites and healthcare industries.

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The major revenue share is captured by North America in global and is anticipated to contribute more than 45% in the near future. Increasing demand for affordable healthcare resources coupled with increasing construction industry mainly in Mexico and the U.S. is anticipated to fuel growth of market. Another major market for microspheres is Europe. It is expected to experience cumulative gains on account of increasing demand from construction segment.

APAC is expected to experience the rapid growth rate on account of healthcare awareness, longer lifespan desires, increase in the purchasing power and the growing occurrence of long-lasting world diseases related with fluctuating lifestyles.

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