Global Microspheres Market by Raw Materials (Ceramic, Glass, Metallic, Fly Ash, Polymer, and Other Raw Materials), Types (Solid and Hollow), Applications (Aerospace, Oil and Gas, Medical Technology, Paints and Coatings, Composites, Cosmetics, Automotive, and Other Applications) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global microspheres market size was valued at USD 4.6 billion in 2020 and is anticipated to expand at a CAGR of 6% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing need for the advancement medical science and technology in drug carriers and delivery systems.
Microspheres are free flowing powders made of proteins or synthetic polymers. Solvent extraction, spray drying, single emulsion technique, solvent evaporation, double emulsion technique, quassi emulsion solvent diffusion, spray congealing, and phase separation concentration technique are the different methods used for preparation of microspheres. It is used in drug delivery system due to its controlled sustained release properties.
Microspheres are used in testing and developing medical devices as tracers and particles. They are used in production of steel, automobiles, personal care products, plastics, elastics, and beauty products as it is lightweight and having high compression abilities and portability. Microspheres are used in oil and gas extraction activities for developing concrete slurry and low thickness boring liquid. The covid-19 pandemic has impacted microspheres market and many end-user industry of microsphere have witnessed drop-off due to lockdown imposed by the government in several countries. It is estimated that microspheres market still seems positive for its long- term outlook presuming a hefty recovery after a downturn.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing population, healthcare needs and awareness, and economic growth is expected to propel the market in the coming years.
- Rapid growth of the construction and healthcare industries is the key factor boosting the market due to its reasonable price and superior qualities and properties during the forecast period.
- Fluctuations in cost of raw materials are projected to hamper the market expansion.
- Lack of product quality act as major factor that can hinder the market growth during the forecast period.
- Infrastructural development and increasing commercial building activities is estimated to create immense opportunities for the market players.
Scope of the Report
The report on the global microspheres market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Microspheres Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Raw Materials (Ceramic, Glass, Metallic, Fly Ash, Polymer, and Other Raw Materials), Types (Solid and Hollow) and Applications (Aerospace, Oil and Gas, Medical Technology, Paints and Coatings, Composites, Cosmetics, Automotive, and Other Applications) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Potters Industries LLC, Momentive Performance Materials Inc., 3M, Luminex Corporation, Trelleborg AB, Mo-Sci Corporation, and AkzoNobel N.N. |
Market Segment Insights:
The glass segment is projected to constitute a major market share
In terms of raw materials, the microspheres market is divided into ceramic, glass, metallic, fly ash, polymer, and other raw materials. The glass segment is expected to hold a key share of the market during the forecast period owing to high filler loading, less shrinkage, tight tolerance, and high solar reflective properties in specialty coatings and paints. Glass microspheres help to improve fuel efficiency in aircraft, automotive, and vehicles without decreasing their physical properties. On the other hand, the polymer segment is anticipated to expand at a rapid pace during the forecast period due to their elastic property.
The hollow microspheres segment is projected to hold a large market share
On the basis of types, the microspheres market is bifurcated into solid and hollow microspheres. The hollow microspheres are expected to constitute a key share of the market during the forecast period due to its wide application. It is lighter in weight and has high usage in paints and coatings, life science, pharmaceuticals, and plastic & rubber. It is used as sensitizers in mining, quarrying, and construction.
The medical technology is projected to account for a key market share
Based on applications, the microspheres market is segregated into aerospace, oil and gas, medical technology, paints and coatings, composites, cosmetics, automotive, and other applications. The medical technology is expected to represent a key share of the market in the coming years owing to growth in the drug delivery system, due to its bioavailability, biocompatibility, and ability to encapsulate drugs.
North America is anticipated to hold major market share during the forecast period
On the basis of regions, the microspheres market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to dominate the market at high CAGR during the forecast period. The regional market growth can be attributed to affordable healthcare resources and growth of a construction sector mainly in Mexico and U.S. The market in Europe is also expected to expand at a substantial CAGR during the forecast period. However, Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to rising government expenditure on healthcare, consumer’s health awareness, and increasing purchasing power.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Microspheres Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Microspheres Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Microspheres Market - Supply Chain
4.5. Global Microspheres Market Forecast
4.5.1. Microspheres Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Microspheres Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Microspheres Market Absolute $ Opportunity
5. Global Microspheres Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Microspheres Market Size and Volume Forecast by Types
5.3.1. Solid
5.3.2. Hollow
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Microspheres Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Microspheres Market Size and Volume Forecast by Applications
6.3.1. Aerospace
6.3.2. Oil and Gas
6.3.3. Medical Technology
6.3.4. Paints and Coatings
6.3.5. Composites
6.3.6. Cosmetics
6.3.7. Automotive
6.3.8. Other Applications
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Microspheres Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Microspheres Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Microspheres Demand Share Forecast, 2019-2026
8. North America Microspheres Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Microspheres Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Microspheres Market Size and Volume Forecast by Types
8.4.1. Solid
8.4.2. Hollow
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Microspheres Market Size and Volume Forecast by Applications
8.7.1. Aerospace
8.7.2. Oil and Gas
8.7.3. Medical Technology
8.7.4. Paints and Coatings
8.7.5. Composites
8.7.6. Cosmetics
8.7.7. Automotive
8.7.8. Other Applications
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Microspheres Demand Share Forecast, 2019-2026
9. Latin America Microspheres Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Microspheres Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Microspheres Market Size and Volume Forecast by Types
9.4.1. Solid
9.4.2. Hollow
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Microspheres Market Size and Volume Forecast by Applications
9.7.1. Aerospace
9.7.2. Oil and Gas
9.7.3. Medical Technology
9.7.4. Paints and Coatings
9.7.5. Composites
9.7.6. Cosmetics
9.7.7. Automotive
9.7.8. Other Applications
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Microspheres Demand Share Forecast, 2019-2026
10. Europe Microspheres Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Microspheres Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Microspheres Market Size and Volume Forecast by Types
10.4.1. Solid
10.4.2. Hollow
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Microspheres Market Size and Volume Forecast by Applications
10.7.1. Aerospace
10.7.2. Oil and Gas
10.7.3. Medical Technology
10.7.4. Paints and Coatings
10.7.5. Composites
10.7.6. Cosmetics
10.7.7. Automotive
10.7.8. Other Applications
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Microspheres Demand Share Forecast, 2019-2026
11. Asia Pacific Microspheres Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Microspheres Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Microspheres Market Size and Volume Forecast by Types
11.4.1. Solid
11.4.2. Hollow
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Microspheres Market Size and Volume Forecast by Applications
11.7.1. Aerospace
11.7.2. Oil and Gas
11.7.3. Medical Technology
11.7.4. Paints and Coatings
11.7.5. Composites
11.7.6. Cosmetics
11.7.7. Automotive
11.7.8. Other Applications
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Microspheres Demand Share Forecast, 2019-2026
12. Middle East & Africa Microspheres Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Microspheres Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Microspheres Market Size and Volume Forecast by Types
12.4.1. Solid
12.4.2. Hollow
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Microspheres Market Size and Volume Forecast by Applications
12.7.1. Aerospace
12.7.2. Oil and Gas
12.7.3. Medical Technology
12.7.4. Paints and Coatings
12.7.5. Composites
12.7.6. Cosmetics
12.7.7. Automotive
12.7.8. Other Applications
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Microspheres Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Microspheres Market: Market Share Analysis
13.2. Microspheres Distributors and Customers
13.3. Microspheres Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Potters Industries LLC
13.4.2. Momentive Performance Materials Inc.
13.4.3. 3M
13.4.4. Luminex Corporation
13.4.5. Trelleborg AB
13.4.6. Mo-Sci Corporation
13.4.7. AkzoNobel N.N.
The global microspheres market has been segmented on the basis of
Raw Materials
- Ceramic
- Glass
- Metallic
- Fly Ash
- Polymer
- Other Raw Materials
- Solid
- Hollow
- Aerospace
- Oil and Gas
- Medical Technology
- Paints and Coatings
- Composites
- Cosmetics
- Automotive
- Other Applications
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Potters Industries LLC
- Momentive Performance Materials Inc.
- 3M
- Luminex Corporation
- Trelleborg AB
- Mo-Sci Corporation
- AkzoNobel N.N.
Key players competing in the microspheres market include Potters Industries LLC, Momentive Performance Materials Inc., 3M, Luminex Corporation, Trelleborg AB, Mo-Sci Corporation, and AkzoNobel N.N. Some of these players are engaged in several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance,
- In April 2016, 3M decided to use glass microspheres in greenhouse film for agricultural purpose.
- In 2018, Carlyle Group and GIC acquired AkzoNobel specialty chemicals and launched again as Nouryon.
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