Microspheres Market to experience an impressive growth of 11.2% during 2020-2025
January 27, 2020
Microspheres Market is likely to witness an impressive CAGR of 11.2% during the forecast period. The remarkable structural properties of microspheres, development & upgradation, and growing demand from the present-day and emerging applications are the major factors expected to bolster the demand for microspheres globally during the forecast period.
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Microspheres Market Segment Insights:
By Type:
Based on the type, the market is segmented as hollow microspheres and solid microspheres. The hollow microspheres segment dominates the market owing to its low crush strength, density, and absorption. The segment is also estimated to be the fastest-growing type segment of the microspheres market during the forecast period.
By Raw Material Type:
Based on the raw material type, the market is segmented as glass microspheres, ceramic microspheres, fly ash microspheres, polymer microspheres, and metallic microspheres. The glass microspheres segment commanded the market in 2018, whereas the metallic microspheres segment is estimated to register the highest growth during the forecast period.
By Application Type:
Based on the application type, the market is segmented as construction composites, medical technology, life science & biotechnology, paints & coatings, cosmetics & personal care, oil & gas, automotive, and aerospace. The construction composites application segment governed the market in 2018. The medical technology application segment is estimated to depict the highest growth rate in the coming five years driven by the increasing number of implant surgeries in North America, Europe, and Asia-Pacific. The medical technology segment is likely to be the largest application of the microspheres market by 2024. The growing healthcare industries in the U.S., The Middle East, and Asia-Pacific countries such as China, Japan, and India are further driving the growth of this segment.
By Region:
In terms of regions, at present, North America is the largest microspheres market, in terms of value, closely trailed by Western Europe. Some of the factors boosting the growth of the North American market are amplified local manufacturing, high growth of end-use industries, and increased number of domestic players in the region. Asia-Pacific is estimated to be the second-fastest growing microspheres market owing to the substantial demand from medical technology and construction composite applications. The presence of key developing nations such as China, India, and South Korea is also a major driver for the microspheres market in the region during the forecast period.
Key Players:
Some of the major players in the microspheres market are Akzonobel N.V., Asia Pacific Microspheres, Advanced Polymers International, Bangs Laboratories Inc., Cospheric LLC, Dennert Poraver GmbH, Durgesh Merchandise Pvt. Ltd., Petra India Group, Omya AG, and Qingdao Eastchem Inc.
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- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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