Dublin, June 12, 2024 (GLOBE NEWSWIRE) -- The "Global Microspheres Market Report by Type, Raw Material, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global microspheres market size reached US$ 6.5 Billion in 2023. Looking forward, the market is projected to reach US$ 14.1 Billion by 2032, exhibiting a growth rate (CAGR) of 8.99% during 2023-2032.
Microspheres refer to solid sphere-shaped particles available in sizes ranging from 1 to 1000 m. They are usually made using glass, ceramic, fly ash, metal and polymers and have controlled opacity, particle size distribution, gravity and electrostatic charge. In the medical sector, microspheres are used for drug administration and embolization, along with testing and development of medical equipment.
They are lightweight, have portability and high compression abilities owing to which, they are used in the production of elastics, plastics, steel, automobiles, beauty care and personal care products. They are also used for developing low thickness boring liquid and concrete slurry for oil and gas extraction activities. In addition, they find extensive applications across aviation, aerospace, defense and construction sectors.
The thriving pharmaceutical and medical industries, along with the growing need for advanced drug delivery systems, is the key factor driving the growth of the market. Furthermore, microspheres are gaining traction for bone tissue engineering and radioembolization to treat liver cancer, along with the development of biopharmaceuticals. In the oil and gas industry, they are used for torque control in drilling fluids and mud lubricity in drilling machines.
There is also an increase in the demand for paints and powder coatings that utilize microspheres for their high strength, low viscosity, gloss control and radiation curable properties. Moreover, factors including growing spending capacity of consumers, increasing research and development (R&D) in life sciences and biotechnology and the growing prevalence of lifestyle diseases are also favoring the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global microspheres market report, along with forecasts at the global and regional levels from 2024-2032. The report has categorized the market based on type, raw material and application.
Breakup by Type:
- Hollow
- Solid
Breakup by Raw Material:
- Glass
- Ceramic
- Fly Ash
- Polymer
- Metal
- Others
Breakup by Application:
- Construction Composites
- Medical Technology
- Life Science & Biotechnology
- Paints & Coatings
- Cosmetics & Personal Care
- Oil & Gas
- Automotive
- Aerospace
- Others
Competitive Landscape
The report has also analyzed the competitive landscape of the market with some of the key players being 3M, AkzoNobel, Nouryon, Matsumoto Yushi-Seiyaku Company, Chase Corporation, Trelleborg, Momentive Performance Materials, Potters Industries, Luminex Corporation, Merit Medical Systems, Bangs Laboratories, Cospheric, Asia Pacific Microspheres, Mo-Sci Corporation, Sigmund Lindner and SIR-Spheres, etc.
Key Questions Answered in This Report
- What was the size of the global microspheres market in 2023?
- What is the expected growth rate of the global microspheres market during 2024-2032?
- What are the key factors driving the global microspheres market?
- What has been the impact of COVID-19 on the global microspheres market?
- What is the breakup of the global microspheres market based on the type?
- What is the breakup of the global microspheres market based on the raw material?
- What is the breakup of the global microspheres market based on the application?
- What are the key regions in the global microspheres market?
- Who are the key players/companies in the global microspheres market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $6.5 Billion |
| Forecasted Market Value (USD) by 2032 | $14.1 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Profiles of Key Players
- 3M
- AkzoNobel
- Nouryon
- Matsumoto Yushi-Seiyaku Company
- Chase Corporation
- Trelleborg
- Momentive Performance Materials
- Potters Industries
- Luminex Corporation
- Merit Medical Systems
- Bangs Laboratories
- Cospheric
- Asia Pacific Microspheres
- Mo-Sci Corporation
- Sigmund Lindner
- SIR-Spheres
For more information about this report visit https://www.researchandmarkets.com/r/6p53r4
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