The global microspheres market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market. The upcoming market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The Global Microspheres Market accounted to USD 840.1 Million in 2016 and is projected to grow at a CAGR of 7.8% during the forecast period of 2017 to 2024.
Market Definition: Global Microspheres Market
Microspheres are free flowing powders that comprise of proteins or synthetic polymers biodegradable in nature, with a size less than200µm. They are extensively used as diagnostics, for the production of recombinant proteins & peptides, cosmetics, construction composites, paints & coating, oil & gases and paramedical uses.
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Major Market Drivers and Restraints:
- Rising demand due for energy efficiency
- Development and modernization of infrastructure
- Superior properties at reasonable price
- Lack of quality control while manufacturing
Market Segmentation: Global Microspheres Market
On the basis of type, the global microspheres market is segmented into hollow microspheres, solid microspheres.
On the basis of raw material, the global microspheres market is segmented intoglass, fly ash, ceramic, polymer and metallic component.
On the basis of applications, the global microspheres market is segmented into construction composites, life science & biotechnology, medical technology, paints & coatings, oil & gas, cosmetics & personal care, aerospace and automotive.
On the basis of geography, global microspheres market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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Major Market Competitors: Global Microspheres Market
Some of the major players operating in global microspheres market are 3M, AkzoNobel N.V., Sigmund Lindner GmbH, Potters Industries LLC, Luminex Corporation, Momentive, Chase Corporation, Cospheric LLC and TrelleborgABamong others.
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