The global microspheres market size reached US$ 5.9 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 10.4 Billion by 2028, exhibiting a growth rate (CAGR) of 10.03% during 2023-2028.
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.
2. What is the expected growth rate of the global microspheres market during 2023-2028?
3. What are the key factors driving the global microspheres market?
4. What has been the impact of COVID-19 on the global microspheres market?
5. What is the breakup of the global microspheres market based on the type?
6. What is the breakup of the global microspheres market based on the raw material?
7. What is the breakup of the global microspheres market based on the application?
8. What are the key regions in the global microspheres market?
9. Who are the key players/companies in the global microspheres market?
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.
Key Market Segmentation
The 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 2023-2028. 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.Key Questions Answered in This Report
1. What was the size of the global microspheres market in 2022?2. What is the expected growth rate of the global microspheres market during 2023-2028?
3. What are the key factors driving the global microspheres market?
4. What has been the impact of COVID-19 on the global microspheres market?
5. What is the breakup of the global microspheres market based on the type?
6. What is the breakup of the global microspheres market based on the raw material?
7. What is the breakup of the global microspheres market based on the application?
8. What are the key regions in the global microspheres market?
9. Who are the key players/companies in the global microspheres market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Microspheres Market
6 Market Breakup by Type
7 Market Breakup by Raw Material
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porter’s Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | October 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 5.9 Billion |
| Forecasted Market Value ( USD | $ 10.4 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
