The worldwide microspheres market estimate was $3.98 Billion out of 2016 and is anticipated to reach $ 6.68 Billion by 2022, at a CAGR of 9.02% in the vicinity of 2017 and 2022. In this report, 2016 is considered as the base year and the estimate time frame is 2017 to 2022.
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The global microspheres market size was $ 3.98 Billion in 2016 and is projected to reach $ 6.68 Billion by 2022, at a CAGR of 9.02% between 2017 and 2022. In this report, 2016 is considered as the base year and the forecast period is 2017 to 2022.
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The superior structural properties of microspheres, development & modernization, and increasing demand from current and emerging applications are expected to drive the demand for microspheres, globally.
Some of the important manufacturers are
- 3M (U.S.),
- Potters Industries LLC (U.S.),
- AkzoNobel N.V. (Switzerland),
- Matsumoto Yushi-Seiyaku Company (Japan),
- Trelleborg AB (Sweden),
- Luminex Corporation (U.S.),
- Momentive Performance Materials Inc. (U.S.),
- Chase Corporation (U.S.),
- Sigmund Lindner GmbH (Germany),
- Mo Sci Corporation (U.S.).
Table of Contents
1.1 Objectives of the Study
1.2 Market Definition
1.3 Markets Scope
1.4 Markets Covered
2 Research Methodology
2.1 Research Data
2.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
22.214.171.124 Key Industry Insights
126.96.36.199 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities for Microspheres Manufacturers
4.2 Rapid Growth of the Microspheres Market
4.3 Hollow Microspheres Dominates the Microspheres Market
4.4 Medical Technology is Expected to Be the Fastest Growing Application of Microspheres
4.5 Glass Micrsopehres Dominates the Market
4.6 Microspheres Market Attractiveness
4.7 Lifecycle Analysis
5 Market Overview
5.2 Market Segmentation
5.2.1 Microspheres Market, By Application
5.2.2 Microspheres Market, By Type
5.2.3 Microspheres Market, By Raw Material
5.3 Market Dynamics
5.4 Revenue Pocket Matrix
5.5 Value Chain Analysis
5.6 Porter’s Five Forces Analysis
Companies in this market compete with each other with respect to prices and product offerings to meet the market requirements.
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The construction composites application segment dominated the microspheres market in 2015. The market in the medical technology application is expected to witness the highest growth rate between 2016 and 2021 due to the growing number of implant surgeries in North America, Europe, and Asia-Pacific.
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The medical technology segment is expected to be the largest application of microspheres by 2021. The growing healthcare industry in the U.S., the Middle East, and Asia-Pacific countries such as China, Japan, and India is also driving the market in this segment.
The microspheres market is classified based on type: hollow and solid. The market is dominated by hollow microspheres due to their low crush strength, density, and absorption.
Currently, North America is the largest microspheres market, in terms of value, closely followed by Western Europe. Some of the factors driving the growth of the North American market are high growth of end-use industries, amplified local manufacturing, and increased number of domestic players.
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Asia-Pacific is expected to be the second-fastest growing microspheres market due to high demand from medical technology and construction composites applications. The presence of major developing nations such as China, India, and South Korea is also a major driver of the microspheres market in the region.
The major restraints of the market are fluctuating raw material’s price, lack of quality control across developing countries, and huge investment required in R&D. Expansion is the most preferred strategy adopted by the key market players to sustain in this highly competitive market.
The major opportunity for microspheres manufacturers are emerging economies such as China, India, and Brazil.
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