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Microspheres Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Raw Material (Glass, Polymer, Ceramic, Fly ash, Metallic, and Other Raw Materials), Type (Hollow and Solid), Application (Automotive, Aerospace, Cosmetics, Oil and Gas, Paints and Coatings, Medical Technology, Composites, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

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Market Snapshot

Microspheres Market - Market summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >6 %

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Market Overview

The microspheres market is expected to register a CAGR of over 6% during the forecast period. The major factors driving the market studied include advancements in medical science and technology and growing usage in the medical industry.

  • Fluctuating prices of raw materials and huge investments in R&D are expected to significantly hinder the growth of the market studied.
  • Asia-Pacific is expected to dominate the global market during the forecast period.
  • The growing demand of cancer treatment drugs and the expansion of end-user industries into new and emerging markets are likely to act as opportunities in the future.

Scope of the Report

The microspheres market includes:  

Raw Material
Glass
Polymer
Ceramic
Fly ash
Metallic
Other Raw Materials
Type
Hollow
Solid
Application
Automotive
Aerospace
Cosmetics
Oil and Gas
Paints and Coatings
Medical Technology
Composites
Other Applications
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

Growing Usage in Medical Application

  • Microspheres, owing to properties, such as chemical resistance, heat resistance, enhanced processing, thermal stability, size, and the ability to deliver active materials, 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, as they are available in a wide range of 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 its ability to encapsulate variety of drugs, as well as biocompatibility and high bioavailability.
  • With continuous development in the medical sector, the microsphere market (henceforth, referred to as the market studied) is expected to see tremendous growth over the forecast period.
Microspheres Market - Segmentation Trends

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China to Dominate the Asia-Pacific Market

  • China has the highest demand for microspheres in the Asia-Pacific region and is expected to increase during the forecast period.
  • The aircraft parts and assembly manufacturing sector in the country is growing at a rapid pace, with the presence of over 200 small aircraft parts manufacturers. Major manufacturers are concentrated in Nanchang, Shanghai, Chengdu, Xi’an, Harbin, Shijiazhuang, and Shenyang.
  • The aviation base in Zhoushan is also being developed, in order to create a robust aircraft manufacturing, repair, and maintenance base to cater to a capacity of nearly 600 aircrafts every year, by 2025.
  • Despite volatile growth in the real estate sector, significant development of rail and road infrastructure by the Chinese government (in order to withstand the demand from growing industrial and services sectors) has resulted in the robust growth of the Chinese construction industry, in recent years.
  • The Chinese government has rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next 10 years, despite efforts to rebalance its economy to a more service-oriented form.
  • Overall, the demand for microspheres is expected to increase in the country during the forecast period.
Microspheres Market - Regional Trends

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Competitive Landscape

The microspheres market is partly consolidated in nature. Some of the major players of the market studied include, 3M, Nouryon, Chase Corp, Luminex Corporation, and Matsumoto Yushi Seiyaku Co. Ltd, among others.

microspheres market

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 Advancements in Medical Science and Technology

      2. 4.1.2 Growing Usage in Medical Industry

    2. 4.2 Restraints

      1. 4.2.1 Fluctuating Prices of Raw Materials

      2. 4.2.2 Huge Investments in R&D

      3. 4.2.3 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 Aerospace

      3. 5.3.3 Cosmetics

      4. 5.3.4 Oil and Gas

      5. 5.3.5 Paints and Coatings

      6. 5.3.6 Medical Technology

      7. 5.3.7 Composites

      8. 5.3.8 Other Applications

    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 Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Nouryon

      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 SIR-Spheres

      13. 6.4.13 Trelleborg

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Demand in Cancer Treatment Drugs

    2. 7.2 Expansion of End-user Industries into New and Emerging Markets

**Subject to Availability

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Frequently Asked Questions

The Microspheres Market market is studied from 2016 - 2026.

The Microspheres Market is growing at a CAGR of >6% over the next 5 years.

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

Asia Pacific holds highest share in 2020.

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

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