Global Microspheres Market – Overview
Microspheres are characteristically free flowing powders
having a particle size less than 200 µm. The microspheres used are usually
polymers that are classified into two material type the first one is the
natural polymers and the other one is the synthetic polymers. These
microspheres are used in various industries such as pharmaceutical industry,
construction industry, cosmetics industry, oil & gas industry and
automotive industry.
The global Microspheres
market is growing with the prompt pace. The market is forecast to establish
a significant growth by 2022, beyond its previous growth records in terms of
value with a striking CAGR of 11.9% during the anticipated period (2017 –
2022). The global microspheres market is growing at a rapid pace. The growth of
the market is majorly upsurged by various applications and advancements of
microspheres in a controlled delivery system. The various application such as
carriers for drugs, absorption, and desorption of substances, pulmonary drug
delivery, and tissue regeneration are influencing the growth of microspheres in
the field of pharmaceutical industry. Furthermore, development in new drugs,
government funding in research and development of microspheres and various
others applications of microspheres in the field of construction industry,
cosmetics industry, oil & gas industry and automotive industry are further
enhancing the market for microspheres. As there is a wide range of factors that
are driving the growth of the market, there are few barriers as well that
hamper the market for microspheres. One of the factors that hamper the growth
of the market are fluctuating price of raw materials, huge investment in
R&D and the limitation of microspheres such as, the release rate of dose
may vary from one dose to another.
Global Microspheres market - Competitive Analysis
The market for microspheres is characterized by the
presence of several well-established and small players, the global market for
microspheres appears to be highly competitive and fragmented. Major players are
increasingly expanding their footprint in the emerging nations, making it
putting pressure on the regional players, especially in terms of features such
as type, product portfolios, and pricing. To attract the customers the
companies have launched the products of different materials and in different
sizes. Some companies have adopted the strategy of acquisition and
collaboration to expand their market and minimize the competition. Innovation
is the best way to gain the market, thus, a number of companies are involved in
the development of new and better products.
For instance, in January 2017, Telko has established a
new partnership with Potters to supply performance solid and hollow
microspheres for a variety of applications. This partnership can help both
Potters and Sovitec to deal a more widespread, cost-effective and high-quality
portfolio of products and services to the customers worldwide.
3M (Unites States), Potters Industries LLC (United
States), AkzoNobel N.V. (Netherlands), Momentive Performance Materials Inc.
(United States), Chase Corporation (United States), Matsumoto Yushi Seiyaku
Company (Japan), Sigmund Lindner GmbH (Germany), Mo-Sci Corporation (United
States), Trelleborg AB (Sweden), Luminex Corporation (United States) and others
are some of the prominent players at the forefront of competition in the global
Microspheres market and are profiled in MRFR Analysis.
Browse Complete Report Details @ https://www.marketresearchfuture.com/reports/microspheres-market-2268
Global Microspheres market - Regional Analysis
Globally, North America holds the largest share of more
than 44% of global microspheres market and is expected to be the leading market
during 2016-2022. This large share is majorly attributed due to growing
technology advancement in the field of medical science in the region, rapidly
growing pharmaceutical industry, increasing need for the new formulations for
the development of new drugs, some of the key factors driving the growth of
this market.
Globally Europe holds the second largest share of about 31% of the global microspheres market. The European market is expected to reach USD 2.44 billion by the end of the forecasted period from 2016 to 2022. Asia-Pacific region is anticipated to observe the highest growth rate in the near future due to growing healthcare and life-sciences industry, increased adoption of microspheres in developing countries, are the key drivers that are influencing the market to grow at a rapid pace in this region. Furthermore, major players are grabbing the opportunity by expanding their operating sites in the region and thus increasing the growth of this market for the forecasted period from 2016 to 2022.
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