Transparency Market Research has published a new
report titled “Microspheres Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 - 2023”. According to
the report, the global microspheres market was valued at US$ 2.72 Bn
in 2014 and is anticipated to reach US$ 7.77 Bn in 2023, expanding at
a CAGR of 12.4% between 2015 and 2023.
Microspheres are small spherical particles having
size (diameter) from 1 to 1000 µm. These microstructures particles
have white powdery form. Microspheres are manufactured using
different natural and synthetic materials such as glass, polymer,
ceramic, fly ash, metals. Owing to the superior structural and
mechanical properties, microspheres are majorly used as additives or
fillers to reduce the density of a material.
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On the basis of product type, microspheres market can
be categorized into hollow microspheres and solid microspheres. Both
the product types have comparable growth rate in the global market.
On the basis of raw material, microspheres market can be segmented
into glass microspheres, polymer microspheres, ceramic microspheres,
fly ash microspheres, metallic microspheres, and others. Glass
microspheres accounted for the largest market by material in 2014. It
held over 50% of the global microsphere market. In terms of
application, microspheres market can be classified into composites,
medical technology, life science & biotechnology, paints &
coatings, cosmetics & personal care, oil & gas, automotive,
aerospace, and others. Composites and medical technology are the
largest applications for microspheres cumulatively accounting for
over 50% of the market in 2014.
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In terms of demand, North America held the largest
share of the microspheres market in 2014 out of which U.S. accounted
for the majority share. Huge investments in R&D by the key
players in North America has led to increasing number of applications
for microspheres, hence contributing to overall market growth. Asia
Pacific is the fastest growing market for microspheres over the
forecast period. Rapid growth in infrastructure, aerospace, and
automotive industries in Asia Pacific is the major driver for growth
of microspheres market. In terms of demand, microspheres market in
Europe followed that of North America in 2014. However, the Europe
market is estimated to grow at a slower rate compared to North
America and Asia Pacific.
The upcoming construction projects in the developing
economies of Asia Pacific is expected to drive the demand for
microspheres in composites, paints & coatings, and aerospace
industry. Microspheres market in Latin America and Middle East &
Africa is expected to rise at a moderate rate during the forecast
period.
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Few of the key players of the global microspheres
market are 3M, Akzo Nobel N.V., Chase Corporation, Matsumoto
Yushi-Seiyaku Co., Ltd, Luminex Corporation, Sigmund Lindner GmbH,
MO-SCI, Cospheric LLC, Nanjing Jianzun Glass Microsphere Plant Co.,
Ltd., Dennert Poraver GmbH, Potters Industries LLC, and Momentive
Performance Materials Inc.
The microspheres market has been segmented as
follows:
Microspheres Market – Product Segment Analysis
- Hollow Microspheres
- Solid Microspheres
Microspheres Market – Material Segment Analysis
- Glass Microspheres
- Polymers Microspheres
- Ceramic Microspheres
- Fly Ash Microspheres
- Metallic Microspheres
- Others (Including Biodegradable Microspheres, etc.)
Microspheres Market – Application Segment
Analysis
- Composites
- Medical Technology
- Life Sciences & Biotechnology
- Paints & Coatings
- Cosmetics & Personal Care
- Oil & Gas
- Automotive
- Aerospace
- Others (Including Marine, etc.)
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