Microspheres are small spherical beads having sizes between 1 – 1000 µm. These are majorly used as fillers or additives in various applications to enhance the structural properties of the end-use material. Owing to the micro scale structure, microspheres are visible in powdered form. Owing to the spherical structure, microspheres offer enhanced features such as lower density, uniform pore structure, thermal shock resistance, easy machining, and reduced water penetration.
On the basis of product type, microspheres market can be segmented into hollow microspheres market and solid microspheres. Hollow microspheres held the larger share of the microspheres market due to numerous existing and emerging applications. On the basis of raw material, microspheres market can be classified as glass microspheres, polymer microspheres, ceramic microspheres, fly ash microspheres, metallic microspheres, and others. Glass microspheres held the largest share of the global microspheres market. Polymer microspheres and ceramic microspheres are the fastest growing segments of the microspheres market.
On the basis of applications, microspheres market can be segmented into composites, medical technology, life science & biotechnology, paints & coatings, cosmetics & personal care, oil & gas, automotive, aerospace, and others. In terms of volume and value, composites held the largest share of the microspheres market in 2014. Due to superior structural properties microspheres are largely consumed in composites materials and advanced construction materials. Hollow glass microspheres, polymer microspheres, and ceramic microspheres are majorly used materials in medical technology and life science & biotechnology applications. Advanced features of microspheres such as dimensional stability, bio-compatibility, and clinical safety are driving the demand for microspheres in oncology treatment therapies.
Microspheres are largely used in life science & biotechnology applications such as embolization, drug delivery systems, bulking agent, and skin treatments. Hence, medical technology is estimated to be the fastest growing market for microspheres in the near future. The rising demand for light-weight materials, syntactic foams, and ablative materials in aerospace & defense industries is expected to drive the demand for microspheres in aerospace application. Owing to retro-reflective feature and lower specific gravity, microspheres have a huge demand in the manufacture of paints used in the road signs. The rising demand for microspheres in drilling muds in order to enhance mud lubricity and control the required torque of the drilling machinery is another factor for growth of microspheres market in oil & gas application. Microspheres are extensively used in cosmetic formulations owing to favorable features such as low oil absorption, high porosity and chemical inertness. Microspheres are consumed in the grinding and milling of various pigments and minerals used to manufacture powdered cosmetics and personal care products. The increasing disposable income and standard of living in the developing economies such as China and India are driving the demand for microspheres in cosmetics & personal care application.
In terms of demand and value, North America, Europe, and Asia Pacific regions held the largest share of the microspheres market in 2014. The market trends are likely to remain the same in coming years due to rising demand for microspheres in applications such as composites and medical technology. Market in Asia Pacific is expected to grow at the fastest rate over the forecast period due to huge investments in R&D and rising number of applications. Demand for microspheres in Latin America and Middle East & Africa is expected to rise at a moderate rate over the forecast period.
Companies such as 3M, Akzo Nobel N.V, Matsumoto Yushi-Seiyaku Co.,Ltd, Nanjing Jianzun Glass Microsphere Plant Co., Ltd., Dennert Poraver GmbH, Momentive Performance Materials Inc., and Potters Industries LLC are some of the global players of the microspheres market.
The report analyzes and forecasts the microspheres market on the global and regional level. The study provides historical data of 2014 along with forecast from 2015 to 2023 based on volume (Tons) and revenue (US$ Mn). The study includes drivers and restraints for the microspheres market along with their impact on demand during the forecast period. The report also analyzes opportunities in the microspheres market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources.
We have included a detailed analysis of the value chain to provide a comprehensive view of the microspheres market. Value chain analysis provides details such as integration in the market, distribution channels, product segments, and end-users. Analysis of Porter’s Five Forces model has also been included to help understand the competitive landscape of the microspheres market. The study encompasses market attractiveness analysis, wherein application segment of the market is benchmarked based on market size, compound annual growth rate (CAGR), and general attractiveness.
The study provides a decisive view of the microspheres market by segmenting it on the basis of products, material, and applications. Product, material, and application segments have been analyzed based on current and future trends, and the market has been estimated from 2015 to 2023 in terms of volume (Tons) and revenue (US$ Mn). Regional segmentation includes current and forecast demand in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. It also includes demand for individual products, materials, and applications in major countries in the respective regions.
The report provides detailed competitive outlook that includes profiles of key players operating in the global microspheres market. Key players profiled in the report include as 3M, Akzo Nobel N.V, Matsumoto Yushi-Seiyaku Co.,Ltd, Nanjing Jianzun Glass Microsphere Plant Co. Ltd., Dennert Poraver GmbH, Momentive Performance Materials Inc., and Potters Industries LLC. Company profiles include attributes such as company overview, brand/product portfolio, financial overview, business strategy, and key/recent developments related to the market.
Constant currency rates have been considered while forecasting the market. Prices of microspheres, material segments, and application segments vary in each region; hence, a similar volume-to-revenue ratio does not follow for each individual region. Regional average price has been considered while breaking down the market by product segment, material segment, and application in each region. Models and estimates have been used to produce comprehensive data sets when hard data was not available. We have used the top-down approach by considering global market to derive at market for individual product, material, and application segments of the regional market. Product segment, material segment, and applications have been further divided using the top-down approach to derive the consumption of products in the regional market.
In order to compile the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
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 Biodegrable Microspheres, etc.)
Microspheres Market – Application Segment Analysis
- Medical Technology
- Life Sciences & Biotechnology
- Paints & Coatings
- Cosmetics & Personal Care
- Oil & Gas
- Others (Including Marine, etc.)
Microspheres Market – Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa