Microspheres Market to offer a healthy CAGR of 11.2% during 2020-25
February 11, 2020
Microspheres Market Overview:
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.
Report Overview:
This new report from Stratview Research analyses the Microspheres Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Microspheres Market Segment Insights:
Type: hollow microspheres and solid microspheres
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.
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Raw Material Type: glass microspheres, ceramic microspheres and others
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.
Application Type: construction composites, medical technology and others
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.
A highly/moderately/fragment consolidated Market
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.
Region: North America is the largest microspheres market
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.
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