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Global Microspheres Market to Grow at a CAGR of 5.8% During 2022-2027, Driven by the Growing Usage of Microspheres in the Healthcare Industry

According to a new report by EMR titled, ‘Global Microspheres Market Report and Forecast 2022-2027’, the market for microspheres is estimated to grow at a CAGR of 5.8% in the forecast period of 2022-2027.

The robust growth of the construction sector is augmenting the market growth of microspheres. As microspheres reduce the concentration and density of various building materials, they are utilised to reduce the price and weight of raw materials. With thermal and sound-insulating capacity offered by microspheres, they are used in the middle layer of sandwich panels made up of fibre reinforced polymers. Various other advantages like acoustic insulation, enhanced rigidity, impact resistance, and temperature resistance, among others, are significantly surging the utilisation of microspheres in the construction of energy-efficient buildings. Hence, the growing inclination towards green and energy-efficient residential and commercial buildings is driving the market growth of microspheres. Furthermore, the market is expected to be propelled by the increasing development of advanced microspheres that offers heightened stable solid support for fluorescence detection in biomolecule screening.

In April 2018, Guerbet (EPA: GBT) acquired a laboratory-stage microsphere technology from a French company, Occlugel. This would enable the company to integrate the new technology into its interventional imaging research and development programme. This technology would be used for vascular embolisation of benign tumours and vascular chemoembolisation of malignant tumours. Moreover, the technology would expand the existing range of the company’s interventional imaging solutions while creating strong synergies with the Accurate range of antireflux microcatheters. Hence, such acquisitions and alliances among major companies are increasing the use of microspheres in the healthcare sector, which is providing impetus to the growth of the market for microspheres.

Market Analysis by Type, Material, Application, and Region:

  • The market, on the basis of type, can be divided into hollow and solid.
  • Based on material, the market can be segmented into glass, polymer, ceramic, fly ash (cenospheres), and metallic, among others.
  • On the basis of application, the market can be divided into construction composites, healthcare and biotechnology, paints and coatings, cosmetics and personal care, oil and gas, and automotive, among others.
  • The regional markets for microspheres include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for advanced microspheres due to their cost-effectiveness and structural properties is augmenting the market growth.
  • The market is being driven by the growing demand for microspheres in various end-use sectors like construction and medical technology, among others.
  • The growing use of microspheres in the healthcare sector to improve the therapeutic efficiency of drugs while overcoming challenges of conventional methods is invigorating the market growth.
  • The increasing exploitation of microspheres to provide peptides, oligonucleotides, and therapeutic proteins through the oral route is predicted to provide impetus to the growth of the market in the coming years.

Key Offerings of the Report:

  • The EMR report gives an overview of the global microspheres market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, materials, applications, and major regions of microspheres.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for microspheres are Nouryon Chemicals Holding B.V, Trelleborg AB, Chase Corporation, Mo SCI Corporation, 3M Co., and Kureha Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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