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Microspheres Market Analysis, Share, Growth & Forecast [2031]

Global Microspheres Market

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Segments - 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 2023 – 2031

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Riddhesh Dani

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Report Description

Global Microspheres Market Outlook 2031

The global microspheres market size was valued at USD 5.17 Billion in 2022 and is anticipated to reach USD 8.73 Billion by 2031 expand at a CAGR of 6% during the forecast period, 2023–2031. 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.

Microspheres 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 Microspheres Market 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.

Attributes	Details
Report Title	Microspheres Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
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)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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.

Microspheres 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.

Segments

The global microspheres market has been segmented on the basis of

Raw Materials

Ceramic
Glass
Metallic
Fly Ash
Polymer
Other Raw Materials

Types

Solid
Hollow

Applications

Aerospace
Oil and Gas
Medical Technology
Paints and Coatings
Composites
Cosmetics
Automotive
Other Applications

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Potters Industries LLC
Momentive Performance Materials Inc.
3M
Luminex Corporation
Trelleborg AB
Mo-Sci Corporation
AkzoNobel N.N.

Competitive Landscape

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.

Table Of Content

1. Executive Summary
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 (000â€™ 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.

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