The Global Microspheres Market is expected to register a CAGR of more than 9%, reaching a value of around USD 10 billion by the end of 2027.
Microspheres are free-flowing powders with a particle size of 1-1000μm consisting of proteins or synthetic polymers. Microspheres are multi-particulate drug delivery systems which are prepared to obtain prolonged or controlled drug delivery to improve bioavailability, stability and to target the drug to a specific site at a predetermined rate. They are made from polymeric waxy or other protective materials such as natural, semi-synthetic, and synthetic polymers.
Market Driver:
Microspheres are extensively used in a drug delivery system, especially for targeted drug delivery of anti-cancer agents, ophthalmic agents, etc. Microspheres exhibit various advantages such as providing constant and prolonged therapeutic effect, reducing the dosing frequency, and bioavailability. Another major advantage is the injection of microspheres in the body due to the spherical shape and smaller size.
Thus, the number of advantages offered by microspheres in drug delivery is expected to fuel its demand in the medical industry.
Microspheres find uses in paints & coatings application and are designed to reduce costs, increase solids, enhance properties, and improve process-ability. Use of microsphere as a functional filler reduces weight and shrinkage of product, improves rheology and is non-toxic, fire-resistant, gloss and sheen control, as well as availability in various sizes and bulk densities. The use of microspheres in paints & coatings increases the solid content, reduces resin demand, improves viscosity control, and offers durability.
High demand for paints & coatings across complimentary end-use industries such as building & construction, automotive, aerospace, electronics, etc. is expected to fuel the use of microspheres in paints & coatings.
Market Restraint:
Raw materials for manufacturing microspheres include glass, phenolic resin, epoxy resin, polystyrene, silicone rubber, polyvinyl chloride, and polyvinyl alcohol. These materials are petroleum-based, which is a major restraining factor for the market growth. This is attributed to the supply-demand gap of petroleum-based raw materials.
Therefore, volatility in raw materials cost is a key restraining factor to market growth.
Microspheres MARKET: Report SCOPE
The report on the microspheres market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Raw Material, Type, and Application |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Microspheres Market, by Raw Material
Microspheres Market, by Type
Microspheres Market, by Application
Microspheres Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE MICROSPHERES MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY