The microspheres market is likely to be driven by rising demand from the healthcare and construction industries, as microspheres are gaining traction due to their superior features and affordable pricing.
JERSEY CITY, N.J. , July 25, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Microspheres Market" By Type (Hollow Microspheres, Solid Microspheres), By Raw Material (Glass Microspheres, Metallic Microspheres, Ceramic Microspheres, Fly ASH Microspheres), By Application (Construction Composites, Medical Technology, Life Science And Biotechnology, Paints And Coatings), and By Geography. According to Verified Market Research, the Microspheres Market size was valued at USD 5024.60 Million in 2021 and is projected to reach USD 10,127.0 Million by 2030, growing at a CAGR of 7.20% from 2022 to 2030.
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Browse in-depth TOC on "Microspheres Market" 202 - Pages 126 – Tables 37 – Figures
Increasing demand from the healthcare and construction sectors where microspheres are gaining momentum owing to their superior properties and reasonable price are expected to drive the Microspheres Market over the predicted years. Also, the growing demand from the paints and coatings sector on account of their various abilities including increasing solid content of the coating and maintaining the flow characteristics expects a boost to the market in the coming years.
Several advantages to Microspheres such as their ability to aid in the improvement of the flow of powders, the efficiency of microspheres in odor masking as well as their aid in the dispersal of water-soluble substances in aqueous media are predicted to fuel the market during the forecasted period. These factors are driving the Microspheres Market. There are certain restraints and challenges faced which can hinder the market growth. Factors such as the increasing raw material prices and the lack of quality control present in developing countries are likely to act as market restraints.
On February 2021 , Trelleborgs Energi AB has signed a collaboration agreement with Adven stating that Adven will produce all district heating in Trelleborg, Sweden's southernmost city, over the next 20 years. Adven will take over the ownership of existing production sites and build new plants needed to cover the growing need for district heating as the city grows and the network expands.
On September 2020 , Palmer Holland announced plans to expand the distribution of the Advanced Materials of 3M , including ceramic microspheres, in Canada to solidify the mutual dedication to grow their businesses rapidly. Also, Nouryon selected a location to establish a polymerization plant for its Expancel microspheres in the U.S. in March 2019 , to strengthen its prominent position as a provider of expandable microspheres and help develop lightweight end-use products.
The major players in the market are 3M , Akzonobel N.V., Matsumoto Yushi-Seiyaku Co. Ltd, Trelleborg AB, Luminex Corporation, Momentive Performance Materials Inc., Chase Corporation, Potters Industries LLC, Sigmund Lindner GmbH, and MO SCI Corporation.
Verified Market Research has segmented the Global Microspheres Market On the basis of Type, Raw Material, Application, and Geography.
Microspheres Market, By Raw Material
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