The global microspheres market Size reached US$ 5.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.56 Billion by 2027, exhibiting at a CAGR of 10.2% during 2022-2027.
Microspheres are small spherical particles with size ranging from 1 to 1000 um. They can be produced from natural, inorganic or synthetic polymeric materials depending upon the intended use. Various methods are employed for the preparation of microspheres, some of which include spray drying, solvent evaporation, and single emulsion, double emulsion, and phase separation concertation techniques. These particles are extensively utilized in various industry verticals, such as oil and gas, medical, pharmaceutical and automotive, for a vast array of applications.
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Global Microspheres Market Trends:
The global market is primarily driven by the numerous applications of microspheres in various industries. For instance, in the medical sector, microspheres are used as tracers in medical devices made from glass, polymers and ceramics. Furthermore, owing to various properties, such as particle distribution and electrostatic charge, these particles are used for manufacturing and testing medical devices. In addition to this, in the pharmaceutical industry, these particles form an integral part of bone tissue engineering and are utilized for the development of biopharmaceuticals.
The oil and gas sector is another major industry in which microspheres find widespread utilization. These particles are employed for preparing low thickness boring liquid and concrete slurry, which are used in extraction activities, and for torque control in drilling fluids. The rising consumer expenditure capacities and extensive research and development (R&D) in the field of biotechnology are some of the other factors driving the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global microspheres market, along with forecasts at the global and regional level from 2022-2027. Our 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
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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.
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