Microspheres: Key market research findings
- High consumption in healthcare industry
- New technology development
Technavio has released a new market research report on the global microspheres market, which is expected to grow at a CAGR of around 11% between 2016 and 2020. Microspheres are categorized based on their chemical composition and material properties. These properties make microspheres suitable for application-specific industries such as paints and coatings, oil and gas, cosmetics and personal care, construction, biotechnology and medicine, medical technology, automotive, aerospace, and medical devices. North America accounts for more than 43% of the total market share. The region is the biggest user of microspheres as it offers better process control and also helps to enhance the overall efficiency of operations.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The market is expected to witness high consumption of microspheres across the healthcare industry. In the healthcare sector, microspheres are being extensively used in the area of genomics, proteomics, and drug discovery. Also, the ability of microspheres to assist in selective internal radiation therapy is another factor that will foster its adoption across the healthcare sector. The SIR-spheres resin microsphere is one such microsphere that assists in internal radiation therapy. These microspheres work on the liver tumors and spare the healthy liver tissue,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research
Microspheres have emerged as a promising new platform in the examination of cellular methods and of bimolecular interactions. Many structures are now being manufactured from advanced materials such as microspheres, which are efficient and eco-friendly. It is anticipated that stringent energy regulations, increase in energy costs, and industrial automation will drive the microspheres market players’ focus toward new technology developments that, in turn, raises the efficiency at affordable prices.
The leading vendors in the global microspheres market include 3M, Akzo Nobel, Chase, Momentive Performance Materials, Potters Industries, and Sigmund Linder. The market is very competitive due to the presence of a few global and vendors. Most of the market vendors have strategies to enhance the penetration percentages in the current market and implement the policies of expanding into new emerging markets to increase their profit margins and improve their overall revenue.
A more detailed analysis is available in the Technavio report, Global Microspheres Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
