The North American microspheres market is expected to register a CAGR of 12.23% during the forecast period, 2018-2023. United States dominated the North American microsphere market, accounting for almost 85% of the market.
Microspheres are endowed with properties, such as chemical resistance, heat resistance, enhanced processing, thermal stability, size, and ability to deliver active materials. Owing to such properties, microspheres are used in the medical industry to manufacture medical devices in various treatments, like treatment of arthritis, tissue engineering, drug delivery, cancer therapies, tissue fillers, injectable biomaterials, etc. Continuous progression in medical device manufacturing and growing R&D activities in the field of biomedicine are expected to drive the market for microspheres through the forecast period.
Polymer microspheres are widely employed for medical applications, out of which polyethylene, polystyrene, and expandable microspheres are the common types. Besides medical application, polymer microspheres also find application in the automotive industry in coatings application and in the plastic industry in injection molding applications. Continuous growth in the medical and automotive industries is expected to drive the polymer segment in the market through the forecast period.
Building and construction dominated the North America microsphere market, due to the vast usage of microspheres in composites where it is used as a filler. The United States, which has the largest construction industry in North America, is growing at an alarming rate, with the market expected to cross USD 460 billion in the residential sector and USD 700 billion in the nonresidential sector, hugely driven by the continuous investments in office buildings, highways, and street projects. Such positive growth is expected to drive the building & construction industry, which in turn, is expected to boost the microsphere market in the region through the forecast period.
The United States has one of the largest construction markets, globally. Furthermore, the country ranks at the top in the field of medical technology and cosmetics. In North America, the country also dominates the automotive, aerospace, and oil & gas industries, which is expected to make the country the dominant market in the North America microsphere market through the upcoming years.
Major Players: 3M, Potters Industries LLC, Chase Corporation, Momentive, and Luminex Corporation, among others.
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Buyers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Advancements in Medical Science & Technology
4.1.2 Increasing Demand for Composites for Building and Construction
4.1.3 Recyclability and Reusability
4.2.1 Huge Investments in R&D are required
4.2.2 High Production Costs
4.3.1 Growing Demand for In Bio-Medical Industry
4.3.2 Other Opportunities
5. Market Segmentation and Analysis
5.1 By Type
5.2 By Raw Material
5.2.4 Fly ash
5.3 By End-user Industry
5.3.4 Oil & Gas
5.3.5 Paints & Coatings
5.3.6 Medical Technology
5.3.7 Building & Construction
6. Regional Market Analysis (Market size, growth and forecast)
6.1 North America
6.1.1 United States
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.2 Akzo Nobel (Expancel)
8.3 Aveka Manufacturing Inc.
8.4 Bangs Laboratories Inc.
8.5 Celonova Biosciences Inc.
8.6 Chase Corp.
8.7 Cospheric LLC
8.8 Evonik Industries AG
8.9 Henkel AG & Co. KGaA
8.10 Induchem AG
8.11 Luminex Corp.
8.12 Matsumoto Yushi-Seiyaku Co. Ltd
8.13 Merit Medical Systems Inc.
8.14 MO SCI Corp.
8.15 Momentive Performance Materials Inc.
8.16 Nanjing Jianzun Glass Microsphere Plant Co. Ltd.
8.18 Potters Industries LLC
8.19 Sirtex Medical Inc.
8.20 Sunjin Beauty Science
8.21 Swarco AG
8.22 Trelleborg AB
8.23 Malayan Adhesives & Chemicals SDN BHD
8.24 Polysciences, Inc.
*List not exhaustive
**Subject to Availability on Public Domain