Global Microspheres Market Analysis & Trends - Industry Forecast to 2028

Global Microspheres Market Analysis & Trends - Industry Forecast to 2028

  • July 2021 •
  • 197 pages •
  • Report ID: 5067661 •
  • Format: PDF
Microspheres: Market Size

From $5.62 billion in 2020, the global Microspheres market is projected to reach $12.96 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 11.0% from 2020 - 2028 timeframe.

Some of the prominent trends that the market is witnessing include, emerging economies in APAC, high demand from existing and emerging applications and increasing demand for energy efficiency .

Global Microspheres Market: Market Dynamics

The booming pharmaceutical and medical industries, and the need for advanced drug delivery systems are the major factors driving the microsphere market growth. Microspheres in drug delivery are used for targeted as well as prolonged drug release in the diseased area. It also protects the unstable drugs before and after the administration. The improved efficacy, reduced toxicity, improved patient compliance, and convenience of microspheres has led to increasing demand in drug delivery systems will boost the market growth. Moreover, the growing demand from the paints and coatings sector on account of their various abilities including increasing solid content of the coating and maintain the flow characteristics expects a boost to the market growth.

For instance, in 2017, according to the International Federation of Pharmaceutical Manufacturers and Association (IFPMA), it was estimated that investments made by research-based pharmaceutical industries on R&D were US$ 149.8 billion per year. Furthermore, the growing usage of microspheres in clinical research is expected to accelerate the microspheres market growth in the foreseeable future.

On the other hand, the microsphere plays an important role to improve the bioavailability of conventional drugs. In addition, it also helps in minimizing side effects and protects the GIT from irritant effects of the drug will fuel the market growth.

Impact of COVID-19 on Microspheres

The rapid spread of the COVID-19 pandemic has a positive impact on the microsphere market. With the absence of a vaccine, healthcare professionals have been forced to rely on curative measures to alleviate the suffering of COVID-19 patients. In such dire circumstances, there is growing reliance on efficient drug delivery mechanisms to provide quick treatment for the disease. Moreover, the situation has generated several innovation opportunities for companies.

By Type

Hollow Spheres Segment Dominate the Market in 2020

The hollow spheres segment made huge revenue in 2020 and growing its prominence during the forecast period. The factors can be attributed to their low crush strength, density, and absorption. Hollow spheres are used as sensitizers in construction, quarrying, and mining applications for water gel explosives and emulsions. Hollow microspheres help in saving material costs as compared to other resins. The wide application of hollow microsphere due to their lighter weight (specific density less than 0.6 g/cm3, compared to solid one having specific density 2.5 to 2.8 g/cm3) is the prime reason behind its dominance.

By Geography

North America Region is Leading in the Global Market Place

North America is likely to have a huge demand in the forecast period owing to the prevalence of affordable healthcare resources coupled with the growing construction sector primarily in the U.S. and Mexico. The increasing healthcare sector owing to the rising aging population should drive regional industry growth. The increasing number of domestic players in the region supported by government guidelines should drive industry growth.

List of the Key Players profiled in the market Include:

• Advanced Polymers International
• Asia Pacific Microspheres
• Bangs Laboratories Inc.
• Ceno Technologies
• Cospheric LLC
• Dennert Poraver GmbH
• Durgesh Merchandise Pvt. Ltd
• Nanjing Jianzun Glass Microsphere Plant Co., Ltd
• Omya AG
• Petra India Group
• Polysciences Inc.
• Qingdao Eastchem Inc.
• Reslab Microfiller
• Spherotech Inc
• The Kish Compmay, Inc

List of the regions/countries profiled in the market Include:

North America
• US
• Canada
• Mexico
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others