New York, November, 29, 2017: Axiom Market Research & Consulting published a report on Global Microencapsulation Market, By Applications (Pharmaceuticals, Household Products, Agrochemicals and Food & Feed Additives and Others) and Geography Forecast Upto 2022. The global microencapsulation market accounted for USD 5.7 billion in 2016 and is estimated to reach USD 9.0 billion in 2022. The market is expected to grow at a CAGR of 7.90 % over the period of 2017 to 2022.
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Global microencapsulation finds major applications in pharmaceuticals, household products, agrochemicals and food & feed additives and others (includes PCM, inks etc.). Further the market is segmented by geography such as North America, Europe, Asia Pacific, Latin America and Rest of the World. The industry is expected to become highly competitive with entry of new market players and technologies in the near future. This is likely to increase the applications of microencapsulation across different industry verticals. The key companies that dominate the global microencapsulation market are, 3M Company, Aveka, BASF, Balchem Corporation, Capsulae, Celessence Technologies Limited, Dow Corning Corporation, Evonik Industries AG, Firmenich Incorporated, Frieslandcampina Kievit, IFP Inc, Ingeniatrics Technologias, S.L., Lipo Technologies, Lycored Group, Microtek Laboratories, Reed Pacific, Ronald T Dodge Co, Sensient Technologies Corporation, Encapsys, Encapsolutions, Coatex, Givaudan and Symrise AG.
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The factors driving the microencapsulation market are rising demand for functional foods, growing demand of microencapsulation in pharmaceutical industry, growing application of microencapsulation in detergents market and textile etc. Microencapsulation technology involves the enclosing of solids, liquids or gases in microscopic particles through micro coating of compounds. The microencapsulation technology allows a substance to be enclosed in a microsphere which has diameter as small as 1 µm. Microencapsulation process is used for encapsulating several active materials such as drugs, enzymes, vitamins, flavors, pesticides, agrochemicals and catalysts inside microcapsules. These microcapsules are made up of polymeric and non-polymeric materials such as poly ethylene glycols and cellulose etc.
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