Coherent Market Insights

Microspheres Market is Estimated at US$ 12,201.00 Mn By 2030

Microspheres Market is Estimated at US$ 12,201.00 Mn By 2030 - Coherent Market Insights

Publish In: Jul 19, 2022

Polymeric microspheres have an extensive array of medical applications and are used as fillers, encapsulating agents, and embolic particles. The composition of microspheres depends on their intended use. There are numerous polymers used to make microspheres, and the use of different materials for different applications is explored in this article. They are used in various procedures and for a variety of purposes, including bone grafting and vertebroplasty, a procedure to stabilize collapsed vertebrae.

Market Statistics:

The global microspheres market is estimated to account for US$ 6,150.92 Mn in terms of value by the end of 2021.

Global Microspheres Market: Drivers

The market of microspores is expected to grow on the account of growing demand from cosmetic industry. Microspheres are majorly used in cosmetics and personal care applications. Solid and perfectly spherical microspheres are used in cosmetic applications. These microspheres are loaded with up to 40% pigments and additives by weight. These microspheres offer maximum hiding power with one invisible and feather-light layer in makeup products. Opaque microspheres are also used in creams, lotions, and in various cosmetic products to cover wrinkles. These microspheres are mostly manufactured using polyethylene polymer.

Global Microspheres Market: Opportunities

Growing application of microspores in automotive sector is expected to bring profitable growth opportunities over the forecast period. Thus, increasing production of automobile will favour the market growth. According to the European Automobile Manufacturers Association, in 2021, 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020.

Global Microspheres Market: Restraints

Increasing price of raw material and lack of quality control in developing countries are expected to restrict the market growth.

Global Microspheres Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 pandemic has severely affected the cosmetics industry because of the recession, and price sensitivity will fuel the popularity of masstige brands. The COVID-19 pandemic resulted in temporary shutdowns and lockdowns in 2020, and the distribution channels of the cosmetics industry have been severely affected. According to L’Oréal, the largest cosmetics company, the cosmetics industry declined by -8% in 2020.

To know the latest trends and insights prevalent in the Global Microspheres Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/microspheres-market-5089

Key Takeaways:

The global microspheres market was valued at US$ 6,150.92 Mn in 2021 and is forecast to reach a value of US$ 12,201.00 Mn by 2030 at a CAGR of 9.12% between 2022 and 2030.

Glass raw material segment held dominant position in the global microspheres market in 2021, accounting for 42% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

New product introduced by key players due to technological advancement is expected to be a trend in the market.  For instance, in June 2022, Nouryon introduces Expancel® HP92 microspheres, a new innovation that is breaking boundaries for thermoplastic microsphere fillers in high-pressure manufacturing processes for the automotive industry. Lightweight materials are in high demand from automotive manufacturers to meet increasingly strict emission regulations and strong consumer interest in fuel-efficient vehicles that do not compromise on performance or passenger comfort.

Healthcare companies in emerging countries such as India and China are investing on account of low cost production and easy availability of cheap manpower. This is expected to be a key trend in the market.

Global Microspheres Market: Competitive Landscape   

  1. 3M
  2. Nouryon
  3. Bangs Laboratories Inc.
  4. Chase Corporation
  5. Cospheric LLC
  6. Luminex Corporation
  7. Matsumoto Yushi-Seiyaku Co. Ltd
  8. Merit Medical System
  9. Mo-Sci Corporation
  10. Momentive
  11. Sirtex Medical
  12. Trelleborg Applied Technologies
  13. Potters Industries LLC
  14. Kureha Corporation

Global Microspheres Market: Recent Developments

  1. In April 2021, Luminex Acquisition by DiaSorin was signed to create significant opportunities for both Luminex and DiaSorin customers to gain access to broader assay portfolios, enhanced research tools, and expanded support services and that the combination will strengthen the combined companies’ existing offerings and drive new partnerships in the biopharmaceutical, academic, and clinical spaces.

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports


Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail


Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Created billion dollars of revenue impact on thousands of clients

trusted clients logo
© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.