Microspheres Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The Microspheres Market is Segmented by Raw Material (Glass, Polymer, Ceramic, Fly Ash, Metallic, and Other Raw Materials), Type (Hollow and Solid), Application (Automotive, Cosmetics, Paints and Coatings, Medical Technology, Composites, and Other Applications (Life Sciences Industry, Oil and Gas, and Aerospace)), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecast in revenue (USD million) for all the above segments.

Market Snapshot

microspheres market
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >9 %
expandable microspheres market size

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Market Overview

The microspheres market is expected to register a CAGR of over 9% during the forecast period (2022-2027).

The COVID-19 outbreak had a minor negative impact on the market in 2020. However, the market is expected to grow steadily during the forecast period.

  • The major factors driving the market include growing applications and advancements in the medical industry and increasing demand from the cosmetics industry.
  • High production costs and huge R&D investments are expected to significantly hinder the market's growth during the forecast period.
  • Asia-Pacific is expected to dominate the overall market during the forecast period.
  • The increasing applications of microspheres in cancer treatment drugs are likely to act as an opportunity over the forecast period.

Scope of the Report

Microspheres are microparticles ranging from 1 to 1,000 microns in diameter. They have chemical resistance, heat resistance, enhanced processing, and thermal stability. The microspheres market is segmented by raw material, type, application, and geography. By raw material, the market is segmented into glass, polymer, ceramic, fly ash, metallic, and other raw materials. By type, the market is segmented into hollow and solid. By application, the market is segmented into automotive, cosmetics, paints and coatings, medical technology, composites, and other applications (life science industry, aerospace, and oil and gas). The report also covers the market size and forecast for the microspheres market in major countries across various regions. For each segment, the market sizing and forecast have been done based on revenue (USD million).

Raw Material
Glass
Polymer
Ceramic
Fly ash
Metallic
Other Raw Materials
Type
Hollow
Solid
Application
Automotive
Cosmetics
Paints and Coatings
Medical Technology
Composites
Other Applications (Life Science Industry, Aerospace, and Oil and Gas)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Medical Application to Dominate the Market

  • Due to their such as chemical resistance, heat resistance, enhanced processing, thermal stability, size, and the ability to deliver active materials, microspheres are widely used in the medical industry.
  • They are used as tracers and particles in medical devices made from glass, polymers, and ceramics.
  • Additionally, they are used in testing and developing medical devices. They are available in various colors, accompanied by controlled opacity, particle size distribution, fluorescence, electrostatic charge, and specific gravity period.
  • Moreover, the usage of microspheres (majorly polymer microspheres) as a drug delivery system is gaining huge momentum due to their ability to encapsulate various drugs and their biocompatibility and high bioavailability.
  • With continuous development in microspheres, the medical application is expected to dominate the market during the forecast period.
expandable microspheres market share

China to Dominate the Asia-Pacific Market

  • China has the highest demand for microspheres in the Asia-Pacific region, which is expected to increase during the forecast period.
  • The Chinese government is developing policies to support and encourage domestic medical device innovation, thus providing opportunities for the microspheres market. The “Made in China 2025” initiative improves industry efficiency, product quality, and brand reputation, which may spur the development of domestic medical device manufacturers and increase competitiveness.
  • According to European Coatings, there are nearly 10,000 coatings manufacturers in China. The Chinese paints and coatings production has been showing steady growth over the recent years.
  • Although China is home to many companies producing paints and coatings, foreign companies and joint ventures also hold a fair share of the market. This huge production base is expected to contribute to the demand for microspheres from the paints industry.
  • Despite volatile growth in the real estate sector, significant development of rail and road infrastructure by the Chinese government (to withstand the demand from growing industrial and services sectors) resulted in the robust growth of the Chinese construction industry in recent years.
  • Overall, the demand for microspheres in China is expected to increase during the forecast period.
 expandable microspheres market analysis

Competitive Landscape

The microspheres market is partly consolidated. Some of the major players (in no particular order) include 3M, Nouryon, Chase Corp., Luminex Corporation, and Matsumoto Yushi Seiyaku Co. Ltd.

Recent Developments

  • In May 2021, Nouryon started the engineering phase at its Expancel expandable microspheres plant in Wisconsin, United States. Through this phase, the company plans to serve its specialty additive end-users in North America in a better way. The construction of the plant is likely to start by the end of 2021.
  • In April 2021, BASF SE and Omya partnered for the advancement and commercialization of BasoSphere hollow glass microspheres for cementing applications in the oil and gas industry.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Application and Advancements in Medical Industry

      2. 4.1.2 Increasing Demand from Cosmetics Industry

    2. 4.2 Restraints

      1. 4.2.1 Huge Investments in R&D

      2. 4.2.2 High Production Costs

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Patent Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Raw Material

      1. 5.1.1 Glass

      2. 5.1.2 Polymer

      3. 5.1.3 Ceramic

      4. 5.1.4 Fly ash

      5. 5.1.5 Metallic

      6. 5.1.6 Other Raw Materials

    2. 5.2 Type

      1. 5.2.1 Hollow

      2. 5.2.2 Solid

    3. 5.3 Application

      1. 5.3.1 Automotive

      2. 5.3.2 Cosmetics

      3. 5.3.3 Paints and Coatings

      4. 5.3.4 Medical Technology

      5. 5.3.5 Composites

      6. 5.3.6 Other Applications (Life Science Industry, Aerospace, and Oil and Gas)

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 BASF SE

      3. 6.4.3 Asia Pacific Microspheres

      4. 6.4.4 Bangs Laboratories Inc.

      5. 6.4.5 Chase Corp.

      6. 6.4.6 Cospheric LLC

      7. 6.4.7 Luminex Corporation

      8. 6.4.8 Matsumoto Yushi Seiyaku Co. Ltd

      9. 6.4.9 Merit Medical Systems Inc.

      10. 6.4.10 Mo-Sci Corporation

      11. 6.4.11 Momentive

      12. 6.4.12 Nouryon

      13. 6.4.13 Omya

      14. 6.4.14 SIR-Spheres

      15. 6.4.15 Trelleborg

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Application in Cancer Treatment Drugs

**Subject to Availability

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Frequently Asked Questions

The Microspheres Market market is studied from 2017 - 2027.

The Microspheres Market is growing at a CAGR of >9% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

3M, Nouryon, Luminex Corporation, Matsumoto Yushi Seiyaku Co. Ltd, Chase Corp. are the major companies operating in Microspheres Market.

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