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| Microspheres Market |
The global Microspheres Market is estimated to be valued at US$ 7324.01 Mn or Bn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Microspheres are tiny spherical particles that find applications across several
industries such as life sciences & biotechnology, cosmetics & personal
care, paints & coatings etc. due to their small and uniform size.
Microspheres help enhance the properties and performance of products.
Market key trends:
One of the key trends gaining traction in the microspheres market is the
increasing preference for biodegradable microspheres. Conventional microspheres
made from synthetic polymers like polystyrene have been facing issues regarding
their disposal and non-renewable nature. This has boosted research towards
development of biodegradable microspheres using polymers derived from natural
sources like cellulose, chitosan, silk etc. These are more eco-friendly and
help address sustainability concerns of end-use industries.
Segment Analysis
The global microspheres market is segmented into type, polymer, technology,
application, and region. Based on type, the market is divided into hollow
microspheres and solid microspheres. The solid microspheres segment currently
dominates the market owing to its widespread applications in construction
composites, medical technology, life sciences & diagnostics, and personal
care & cosmetics.
Key Takeaways
Market size
The global Microspheres
Market Share is expected to
witness high growth, exhibiting CAGR of
9.1% over the forecast period, due to increasing demand from construction
composites, medical technology, life sciences & diagnostics, and personal
care & cosmetics industries.
Regional analysis
North America is expected to dominate the global microspheres market during the
forecast period. This is attributed to the strong presence of key players and
rising investments in R&D activities in the region. Asia Pacific is
projected to witness the fastest growth due to growth of end-use industries in
emerging economies such as China and India.
Key players
Key players operating in the microspheres market are 3M, Nouryon, Bangs
Laboratories Inc., Chase Corporation, Cospheric LLC, Luminex Corporation,
Matsumoto Yushi-Seiyaku Co. Ltd, Merit Medical System, Mo-Sci Corporation,
Momentive, Sirtex Medical, Trelleborg Applied Technologies, Potters Industries
LLC, and Kureha Corporation. 3M is currently the market leader owing to its
diverse product portfolio and strong distribution network globally.
For more
insights, Read- https://www.ukwebwire.com/microspheres-market-trends-size-and-share-analysis/
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