Microspheres (Hollow Microspheres and Solid Microspheres) Market
Microspheres (Hollow Microspheres and Solid Microspheres) Market by Material (Glass Microspheres, Polymer Microspheres, Ceramic Microspheres, Fly Ash Microspheres, Metallic Microspheres and Others) for Composites, Medical Technology, Life Science & Biotechnology, Paints & Coatings, Cosmetics & Personal Care, Oil & Gas, Automotive, Aerospace and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Press Release :
The growing demand for microspheres can be attributed to advancements in chemical and biological testing. With a large portfolio offerings pertaining to the microspheres market, it is difficult to peg a single industry as the driver of sales within the market. From pharmaceuticals to aerospace, majority of the high-end industries consumer microspheres in some capacity. To exemplify, assays used in drug development and biology can be measures with the help of microspheres. The chemical industry has been at the helm of market growth and maturity. The unprecedented requirement for improved research lines, especially the ones that involve microspheres, has aided market growth. Henceforth, the global microspheres market is set to attract formidable demand in the times to follow.
Manufacturing of polymers and glass also involves the use of microspheres that help in reducing the material density. Buoyancy applications of microspheres also play a defining role in driving demand within the global market. Manufacturing of ceramics and other related materials necessitates filtering of particles. Moreover, these ceramics can be used to manufacture concrete and building materials. Use of microspheres in the domain of ceramic manufacturing has ushered an era of growth and advancement within the market. In addition to this, particle image velocimetry is also an important process that involves the use specialised microspheres.
In this report preview, Transparency Market Research decodes the key segments pertaining to the global microspheres market. The preview focuses on defining the role of each of these segments in driving market demand. The global microspheres is estimated to grow at a remarkable CAGR of 12% over the period between 2015 and 2023. Furthermore, the total value of this market is expected to reach US$ 7.77 bn by the end of the forecast period. The cost dynamics associated with the use of microspheres in various industries shall also play a defining role in market growth.
Cosmetic Manufacturing to Cause Demand-Uptick within Microspheres Market
On the basis of application, the use of microspheres spans into leading industries such as life sciences, cosmetics, pharmaceuticals, paints and composites, aerospace, automotive, and oil and gas. Manufacturing of anti-aging cosmetic products that can hide wrinkles necessitates the use of microspheres that can soften and rejuvenate the skin. In addition to this, microspheres are also used in the pharmaceutical and medical industries. The need for drug delivery has led researchers to develop microscopic technologies that can accomplish the process.
Several market experts believe that the growth of the oil and gas industry would pave way for the inflow of voluminous revenues into the global microspheres market. The need for pinpoint control within this industry shall create increased demand for microspheres in the oil industry. Furthermore, electronic paper and insulation technologies are amongst other key end-use areas for microspheres. Advancements in chemical engineering shall unravel new opportunities for growth within this market.
North America Microspheres to Lead Market Growth
On the basis of geography, the global microspheres market can be segmented into South America, Europe, Asia Pacific, the Middle East and Africa, and North America. The growing relevance of personal care products, especially in the US, has played an integral role in driving sales across the North America market. The oil and gas industry of the Middle East and Africa has matured at a much faster pace as against industries of other regions. This trend has given a thrust to the growth of the Middle East microspheres market.
Some of the key players operating in the global microspheres market are Akzo Nobel N.V, Nanjing Jianzun Glass Microsphere Plant Co., Ltd., Matsumoto Yushi-Seiyaku Co.,Ltd, Dennert Poraver GmbH, Potters Industries LLC, and Momentive Performance Materials Inc.
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