Microspheres are free flowing micro particles, spherical shape polymers which are bio-degradable in nature typically in range of micrometers (1 um to 1000 um). The common types of polymers microspheres are polyethylene, polystyrene and expandable microsphere. The global demand of polyethylene microspheres is as filler to create porous like structure in ceramics. Polystyrene microspheres are typically used in biomedical applications. Expandable microspheres are used as fillers in waterborne paints and also as filler in injection molding of thermoplastic.
Based on their applications microspheres are used in assay, cosmetics, drug delivery, personal care, electronic paper, insulation, and ceramics. Biodegradable polymer microspheres can work as miniature capsules for parental drugs, as drug delivery within pharmaceutical and biotechnology industries. The major portion of microspheres is used as retro-reflective, added with paint used on roads and signs to increase night visibility of road stripes and signs.
The U.S dominates the market in terms of advanced materials such as microspheres and is expected to experience highest revenue in corresponding five years. The market is growing slowly in Europe but it is expected to grow at significant rate in Asia-pacific region. China leading the Asia-Pacific region is the fastest global contributor to microsphere market. The Latin America is at infancy stage in microsphere market but is emerging as one of the fastest market due to infrastructure development. As a whole Asia and North America are the major market both by revenue and volume.
Some of the major factors driving microspheres market are increasing demand from current and newly applications, superior structural properties, recyclable & reusable, development and modernization of infrastructure. The constraints hindering growth of the market are fluctuating cost of the raw materials. The microsphere market also requires huge investment in R&D that ultimately increases the cost of the final product and thereby acting as a major constraint for this market..
Some of the major players operating in global market of microspheres are 3 M, Axzo Nobel Expancel, Cospheric LLC, Dennert Poraver GmbH, Eko Export SA, Luminex Corporation, Spherotech Inc, Trelleborg Offshore & Construction.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.