The future of the microsphere market looks promising with opportunities in the medical technology, composites, and life sciences and biotechnology industries, according to a new report from The Market Reports. The global microsphere market is expected to reach an estimated $3.8 billion by 2021 and is forecast to grow at a CAGR of 6.8% from 2016 to 2021.
The major drivers of growth for this market are the growing demand for higher efficiency and lightweight materials and superior structural and enhanced properties of microsphere over conventional fillers.
Emerging trends, which have a direct impact on the dynamics of the industry, include continuous improvements in existing products to intensify the penetration level and long-term sustainability, biodegradable microspheres, and increasing focus on growing markets by expansion and alliances (Mergers and Acquisitions).
Trends, opportunities and forecast in this market to 2021 by applications (composites, medical technology, life sciences and biotechnology, cosmetics and personal care, paints and coatings, and others), by material (glass microspheres, polymer microspheres, ceramic microspheres, fly ash (cenosphere) microspheres, metallic microspheres, and others), by product type (solid microspheres and hollow microspheres), by region (North America, Europe, Asia Pacific, Rest of the World)
The 3M Company, Cospheric LLC, Potters Industries, Trelleborg Offshore & Construction, and AkzoNobel Expancel are among the major suppliers of the microsphere.
On the basis of comprehensive research, Lucintel predicts that hollow microsphere is expected to show above average growth during the forecast period supported by growing demand for low density and superior quality in high-end applications.
Within the microsphere market, glass microsphere is expected to remain the largest market. Glass microspheres provide lower viscosity, high melting point, and higher chemical resistance than other types of microspheres, which is expected to spur growth for this segment over the forecast period.
North America is expected to remain the largest region due to the growing use of microspheres in R&D activities for discovery of effective medicines and demand for lightweight materials in composite applications.
Read the full report: http://www.reportlinker.com/p04700429-summary/view-report.html