The growing demand from paints coatings, the increasing need for advanced drug delivery systems, and the rising number of implant surgeries are driving the need for the market.
The global Microspheres market is forecast to reach USD 10.24 Billion by 2027, according to a new report by Reports and Data. It is expected that the superior structural properties of microspheres, growth modernization, and increased demand from existing and emerging applications would boost demand for microspheres globally. The increasing need for advanced drug delivery systems and drug carriers over the forecast period is expected to be a significant factor in the growth of microspheres. Growing demand from the paints and coatings sector due to their different capabilities, including improving solid coating quality and retaining flow properties, is also one of the factors driving the market.
Microspheres are used in medical devices, which are made of glass, polymers, and ceramics as tracers and particles. They are also used in the research and production of medical devices due to their availability in a broad range of colors with controlled opacity, particle size distribution, fluorescence, electrostatic load, and specific gravity. Increasing new hospital building projects along with demand for medical equipment would drive market growth.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
AkzoNobel Expancel, Chase Corporation, Trelleborg AB, Mo SCI Corporation, Momentive Performance Materials Inc., Sigmund Linder GmbH, Potters Industries LLC, 3M Company, Luminex Corporation, and, Matsumoto Yushi-Seiyaku Co. Ltd., among others.
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The Microspheres market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Material Outlook (Revenue, USD Billion; 2017-2027)
- Glass
- Polymer
- Ceramic
- Fly ash
- Metallic
Type Outlook (Revenue, USD Billion; 2017-2027)
- Hollow
- Solid
Application Outlook (Revenue, USD Billion; 2017-2027)
- Automotive
- Medical Technology
- Construction Composites
- Life Sciences Biotechnology
- Paints Coatings
- Cosmetic % Personal Care
- Oil Gas
- Aerospace
Key Regions Analyzed in the Report include:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Furthermore, it consists information about individual segment of the Microspheres market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Further key findings from the report suggest
- Medical applications dominated the market and represented 21.5% of the total market in 2019. The rapid evolution of the drug delivery system is expected to drive the market in the medical segment over the forecast period.
- A key factor driving market growth in the booming pharmaceutical and medical industries is the development of biopharmaceuticals, microspheres are gaining popularity for bone tissue engineering and radioembolization to treat hepatic cancer.
- North America emerged as the leading market, followed by Europe. The growing healthcare sector, mainly due to the rising elderly population along with the numbers of domestic manufacturers in the region assisted by government guidelines, will drive growth in the market.
- In the Asia Pacific, the construction segment has acquired the market. With the increasing urbanization and industrialization, the region has excellent growth potential in the near future and is expected to grow from 2019 to 2027 at an estimated 9.4% CAGR.
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