Microspheres Market was valued at US$ 2.72 Billion in 2014, will reach US$ 7.77 Billion by 2023, expanding at a CAGR of 12.4% from 2015 to 2023

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Microspheres Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2015 - 2023
Microspheres Market to Account for US$7.77 bn by 2023,
Composites and Medical Technology Represent Key Applications
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Published Date
17-Feb-2016
247 Page Report
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2. Microspheres Market
Microspheres Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Transparency Market Research has published a new report titled “Microspheres Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”. According to the
report, the global microspheres market was valued at US$ 2.72 Bn in 2014 and is anticipated to
reach US$ 7.77 Bn in 2023, expanding at a CAGR of 12.4% between 2015 and 2023.
Microspheres are small spherical particles having size (diameter) from 1 to 1000 µm. These
microstructures particles have white powdery form. Microspheres are manufactured using
different natural and synthetic materials such as glass, polymer, ceramic, fly ash, metals. Owing
to the superior structural and mechanical properties, microspheres are majorly used as additives
or fillers to reduce the density of a material.
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On the basis of product type, microspheres market can be categorized into hollow microspheres
and solid microspheres. Both the product types have comparable growth rate in the global
market. On the basis of raw material, microspheres market can be segmented into glass
microspheres, polymer microspheres, ceramic microspheres, fly ash microspheres, metallic
microspheres, and others. Glass microspheres accounted for the largest market by material in
2014. It held over 50% of the global microsphere market. In terms of application, microspheres
market can be classified into composites, medical technology, life science & biotechnology,
paints & coatings, cosmetics & personal care, oil & gas, automotive, aerospace, and others.
Composites and medical technology are the largest applications for microspheres cumulatively
accounting for over 50% of the market in 2014.
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REPORT DESCRIPTION

3. Microspheres Market
In terms of demand, North America held the largest share of the microspheres market in 2014
out of which U.S. accounted for the majority share. Huge investments in R&D by the key players
in North America has led to increasing number of applications for microspheres, hence
contributing to overall market growth. Asia Pacific is the fastest growing market for microspheres
over the forecast period. Rapid growth in infrastructure, aerospace, and automotive industries in
Asia Pacific is the major driver for growth of microspheres market. In terms of demand,
microspheres market in Europe followed that of North America in 2014. However, the Europe
market is estimated to grow at a slower rate compared to North America and Asia Pacific.
The upcoming construction projects in the developing economies of Asia Pacific is expected to
drive the demand for microspheres in composites, paints & coatings, and aerospace industry.
Microspheres market in Latin America and Middle East & Africa is expected to rise at a moderate
rate during the forecast period.
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Few of the key players of the global microspheres market are 3M, Akzo Nobel N.V., Chase
Corporation, Matsumoto Yushi-Seiyaku Co., Ltd, Luminex Corporation, Sigmund Lindner GmbH,
MO-SCI, Cospheric LLC, Nanjing Jianzun Glass Microsphere Plant Co., Ltd., Dennert Poraver
GmbH, Potters Industries LLC, and Momentive Performance Materials Inc.
The microspheres market has been segmented as follows:
Microspheres Market – Product Segment Analysis
• Hollow Microspheres
• Solid Microspheres
Microspheres Market – Material Segment Analysis
• Glass Microspheres
• Polymers Microspheres
• Ceramic Microspheres
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4. Microspheres Market
• Fly Ash Microspheres
• Metallic Microspheres
• Others (Including Biodegradable Microspheres, etc.)
Microspheres Market – Application Segment Analysis
• Composites
• Medical Technology
• Life Sciences & Biotechnology
• Paints & Coatings
• Cosmetics & Personal Care
• Oil & Gas
• Automotive
• Aerospace
• Others (Including Marine, etc.)
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