The global microspheres market size is expected to reach USD
8.39 billion by 2025, according to a new report by Grand View Research, Inc.
The market has witnessed strong growth over the past few years on account of
the rising demand from the paints and coatings sector, construction, and
healthcare industries. The cost-effective nature of microspheres has been a
crucial factor for the increasing market penetration.
Increasing technological
innovation in terms of improving the characteristics of microspheres has
resulted in the expansion of the market. However, growing concerns over the
microbeads impact on the environment and the strengthening of the regulatory
framework is expected to have a negative impact on the market.
The growing demand from the
paints and coatings sector owing to the increasing production in emerging
economies and expansion of the manufacturing industry is expected to have a
positive impact over the forecast period.The expansion of the construction
industry will remain a major growth contributing factor for microspheres in the
near future.
U.S. microspheres market by
material, 2014 - 2025 (USD Million)
Browse full research report on
Microspheres Market
Further key findings from the
report suggest:
- The market
for hollow microspheres was valued at USD 1.91 billion in 2015 and is
expected to foresee significant gains on account of usage in medical and
healthcare applications.
- Some critical
properties of superior quality glass microspheres are particle size
distributions, tight tolerance, and perfect sphericity.
- Multinational
healthcare companies are investing in emerging economies such as India and
China on account of low production costs and availability of cheap
manpower.
- Key industry
participants include Potters Industries LLC, Chase Corporation,
AkzoNobelExpancel, 3M Company and Sigmund Lindner GmbH. Thissector is also
characterized by product development and innovation where companies and
research institutes are developing new techniques and products for
microspheres that are commercially viable.
- Companies are
focusing on expansion of their business presence and are implementing
strategies such as acquisitionin order to increase their market penetration
within the global market. Potters Industries LLC have developed hollow
microspheres that have thicker walls and higher density
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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