Factors that Impact on the Microspheres Market Industry in Upcoming Years !

The report "Microspheres Market by Type (Hollow and Solid), Raw Material (Glass, Ceramic. Fly Ash, Polymer, and Metallic), Application (Construction Composites, Medical Technology, Cosmetics & Personal Care, Automotive, Oil & Gas, and Others) - Global Trends & Forecasts to 2021", The global microspheres market was USD 3.65 Billion in 2015 and is projected to reach USD 7.37 Billion by 2021, at a CAGR of 12.14% between 2016 and 2021. The high demand from current and emerging applications is expected to drive the market.

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Hollow microspheres segment captures largest share of the microspheres market

The microspheres market is segmented based on types as hollow and solid. In 2015, the hollow microspheres segment captured the maximum share of the overall market and is expected to witness high growth rate during the forecast period. The demand for hollow microspheres is increasing because of its low crush strength, density, and absorption that make it suitable for use in various applications.

Growing demand from medical technology application to boost the microspheres market

The microspheres market is also segmented on the basis of applications. The major applications of the microspheres market are construction composites, medical technology, cosmetics & personal care, oil & gas, automotive, life science & technology, and others. Medical technology is the leading application of the microspheres market due to growing demand of microspheres in the healthcare industry for drug delivery systems.

North America is the largest microspheres market

The microspheres market is broadly segmented into six regions, namely, North America, Western Europe, Central Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is the largest microspheres market, closely followed by Western Europe, in terms of value. The rising demand from applications such as medical technology and cosmetics & personal care in this region is driving the microspheres market.

Currently, various market players such as 3M (U.S.), Potters Industries LLC (U.S.), AkzoNobel N.V. (Switzerland), Matsumoto Yushi-Seiyaku Company (Japan), Trelleborg AB (Sweden), Luminex Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Chase Corporation (U.S.), Sigmund Lindner GmbH (Germany), and Mo Sci Corporation (U.S.) dominate the global microspheres market.

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