Microspheres Market to Grow Swiftly Based on Increasing Demand for Advanced Drug Delivery Systems & Drug Transportation Till 2025 | Million Insights - Seite 2

The features of glass segment such as its tight tolerances and increasing demand from evolving industries including high-tech equipment & specialty, automotive, life sciences application, biomedical and microscopy have helped to witness healthy growth in the recent past. This will increase the demand of the product over next nine years.

Application Insights

Healthcare segment is expected to be the largest segment on account of the increasing funding in R&D in the drug delivery systems. The construction sector is projected to be the fastest growing industry as a result of the ability of microspheres to impart higher capabilities in construction composites. The development of the construction sector in the evolving economies such as China and India is anticipated to be a critical factor for the market growth.

Robust growth in the overall healthcare industry in developing countries especially Asia Pacific, which consists of China, Thailand, India, Vietnam, Indonesia and Philippines will boost the product demand. Increasing capital investment by key players will further boost the market penetration over the forecast period.

These economies are also expected to experience a stable development in other application areas such as paint & coatings and cosmetics segment. Market participants such as AkzoNobel and 3M Company are funding and conducting innovative research in the area of microspheres to support coatings and healthcare and other end-use industries.

Regional Insights

The major revenue share is captured by North America in global and is anticipated to contribute more than 45% in the near future. Increasing demand for affordable healthcare resources coupled with increasing construction industry mainly in Mexico and the U.S. is anticipated to fuel growth of market. Another major market for microspheres is Europe. It is expected to experience cumulative gains on account of increasing demand from construction segment.

APAC is expected to experience the rapid growth rate on account of healthcare awareness, longer lifespan desires, increase in the purchasing power and the growing occurrence of long-lasting world diseases related with fluctuating lifestyles.

Competitive Insights

The major players in the market includes 3M, Sigmund Linder, AkzoNobel Expancel, Luminex Corp, Potters Industries LLC, Momentive Performance Materials Inc. and Chase Corp. The market participants are heading in the way of expansion owing to the robust growth in paints and coatings, automotive, construction composites and healthcare industries.