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Market Overview:
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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Microspheres refer to solid sphere-shaped particles available in sizes ranging from 1 to 1000 µm. 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.
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:
Breakup by Raw Material:
Breakup by Application:
Breakup by Region:
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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Type, Raw Material, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | 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 |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global microspheres market was valued at US$ 5.34 Billion in 2021.
We expect the global microspheres market to exhibit a CAGR of 10.2% during 2022-2027.
The expanding pharmaceutical sector, along with the introduction of innovative magnetic microspheres
for precise delivery of therapeutic agents, is currently driving the global microspheres market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary closure of numerous end-use industries for
microspheres, such as construction, consumer electronics, automotive, etc., thereby hampering the
overall market growth.
Based on the type, the global microspheres market can be categorized into hollow and solid. Currently,
hollow type exhibits a clear dominance in the market.
Based on the raw material, the global microspheres market has been segmented into glass, ceramic, fly
ash, polymer, metal, and others. Among these, glass represents the largest market share.
Based on the application, the global microspheres market can be bifurcated into construction
composites, medical technology, life science & biotechnology, paints & coatings, cosmetics & personal
care, oil & gas, automotive, aerospace, and others. Currently, construction composites account for the
majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East
and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global microspheres market include 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, etc.
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