Transparency Market Research

Global Microspheres Market to Account for US$7.77 Billion by 2023: TMR


Albany, NY -- (SBWIRE) -- 10/23/2018 -- Microspheres are small spherical beads having sizes between 1 – 1000 µm. These are majorly used as fillers or additives in various applications to enhance the structural properties of the end-use material. Owing to the micro scale structure, microspheres are visible in powdered form. Owing to the spherical structure, microspheres offer enhanced features such as lower density, uniform pore structure, thermal shock resistance, easy machining, and reduced water penetration.

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On the basis of product type, microspheres market can be segmented into hollow microspheres market and solid microspheres. Hollow microspheres held the larger share of the microspheres market due to numerous existing and emerging applications. On the basis of raw material, microspheres market can be classified as glass microspheres, polymer microspheres, ceramic microspheres, fly ash microspheres, metallic microspheres, and others. Glass microspheres held the largest share of the global microspheres market. Polymer microspheres and ceramic microspheres are the fastest growing segments of the microspheres market.

On the basis of applications, microspheres market can be segmented into composites, medical technology, life science & biotechnology, paints & coatings, cosmetics & personal care, oil & gas, automotive, aerospace, and others. In terms of volume and value, composites held the largest share of the microspheres market in 2014. Due to superior structural properties microspheres are largely consumed in composites materials and advanced construction materials. Hollow glass microspheres, polymer microspheres, and ceramic microspheres are majorly used materials in medical technology and life science & biotechnology applications. Advanced features of microspheres such as dimensional stability, bio-compatibility, and clinical safety are driving the demand for microspheres in oncology treatment therapies.

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Microspheres are largely used in life science & biotechnology applications such as embolization, drug delivery systems, bulking agent, and skin treatments. Hence, medical technology is estimated to be the fastest growing market for microspheres in the near future. The rising demand for light-weight materials, syntactic foams, and ablative materials in aerospace & defense industries is expected to drive the demand for microspheres in aerospace application. Owing to retro-reflective feature and lower specific gravity, microspheres have a huge demand in the manufacture of paints used in the road signs. The rising demand for microspheres in drilling muds in order to enhance mud lubricity and control the required torque of the drilling machinery is another factor for growth of microspheres market in oil & gas application. Microspheres are extensively used in cosmetic formulations owing to favorable features such as low oil absorption, high porosity and chemical inertness. Microspheres are consumed in the grinding and milling of various pigments and minerals used to manufacture powdered cosmetics and personal care products. The increasing disposable income and standard of living in the developing economies such as China and India are driving the demand for microspheres in cosmetics & personal care application.

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Companies such as 3M, Akzo Nobel N.V, Matsumoto Yushi-Seiyaku Co.,Ltd, Nanjing Jianzun Glass Microsphere Plant Co., Ltd., Dennert Poraver GmbH, Momentive Performance Materials Inc., and Potters Industries LLC are some of the global players of the microspheres market.