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[ClickPress, Fri Jul 22 2016] Microspheres Market by Type (Hollow and Solid), Raw Material (Glass, Ceramic, Fly Ash, Polymer, and Metallic), Application (Construction Composites, Medical Technology, Cosmetics & Personal Care, Automotive, Oil & Gas, and Others) - Global Trends & Forecasts to 2021
The market size of microspheres, in terms of value, is projected to reach USD 7.37 billion by 2021 and is projected to register a CAGR of 12.14% between 2016 and 2021. The growing demand from major applications such as medical technology, cosmetics & personal care, oil & gas, and life science & biotechnology is expected to drive the demand for microspheres. The growing healthcare services sector is significantly driving the demand for microspheres.
"Medical technology application expected to witness highest growth rate during forecast period"
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The medical technology application is expected to witness the highest growth rate between 2016 and 2021. The demand for microspheres is increasing in medical technology application for controlled drug release delivery systems. The advantage of using microspheres in drug-delivery matrix is that they can encapsulate many types of drugs, including small molecules, proteins, and nucleic acids, and can be easily administered through a syringe needle. They are generally biocompatible, can provide high bioavailability, and are capable of sustained release for long periods of time.
"South America and Asia-Pacific projected to be the fastest-growing markets during forecast period"
South America is expected to be the fastest-growing market in the forecast period. The growing demand of microspheres in medical technology and cosmetics & personal care applications is driving the demand for microspheres in the region. Asia-Pacific is estimated to be the second-fastest growing microspheres market due to growing healthcare and construction industries.
Break-up of profiles of primary participants for the report
* By Company Type - Tier 1-37%, Tier 2-50%, and Tier 3-13%
* By Designation - C Level- 50%, Director Level-31%, and Others-19%
* By Region - North America-28%, Western Europe-24%, Central Europe-17%, Asia-Pacific-14%, the Middle East & Africa-10%, and South America-7%
The report includes company profiles of major players and recent activities undertaken in the market such as new product launches, expansions, and acquisitions. Some of the major companies profiled in this report are 3M (U.S.), Potters Industries LLC (U.S.), AkzoNobel N.V. (Switzerland), Matsumoto Yushi-Seiyaku Company (Japan), Trelleborg AB (Sweden), Luminex Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Chase Corporation (U.S.), Sigmund Lindner GmbH (Germany), and Mo Sci Corporation (U.S.).
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