Stratview Research has published a new report titled “Polymer Microspheres Market” which is segmented by Microsphere Type (Expanded Polymer Microspheres and Solid Polymer Microspheres), by Application Type (Life Sciences & Pharmaceutical, Paints & Coatings, Plastics & Rubber, Construction Materials, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market is estimated the market will mark a healthy rebound from 2021 onwards then maintaining sequential growth till the forecast period, assisting the market to cross the landmark figure of US$ 1.6 billion by 2025.
Polymer microspheres are small spherical plastic particles mainly made up of polyethylene (PE), polypropylene (PP), polystyrene (PS), polymethyl methacrylate (PMMA), or other polymers, range in size from 1-1,000 micrometers. There are two types of polymer microspheres: expanded polymer microspheres and solid polymer microspheres.
An expanded polymer microsphere can expand up to 5 times its original diameter with a 50-120 times increase in volume. Expanded polymer microspheres consist of a polymer shell encapsulating a gas; when heated, the internal pressure from the gas increases and the thermoplastic shell softens, resulting in a dramatic increase in the volume of the microspheres.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It thoroughly analyzes the market segments, including products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Microsphere Type
The polymer microsphere market is segmented into expanded polymer microspheres and solid polymer microspheres. Expanded polymer microsphere is likely to remain the most dominant microsphere type in the market during the forecast period. Expanded polymer microspheres have a lower emissivity spectrum than commercial paints (λ = 0.35 – 4 µm vs λ = 4 – 40 µm), which means that they absorbent less solar radiation than the commercial paints, resulting in better performance during the daylight.
Further, expanded polymer microspheres can expand without any discoloration and outgassing issues of chemical foaming agents, or breakage which is common with hollow glass microspheres. Also, by adding as little as 2%-3% by weight, it can reduce the product’s weight by as much as 50%. They can easily mix and achieve density reduction levels between 10%-30% in injection molding.
By Application Type
The market is classified as life sciences & pharmaceuticals, paints & coatings, plastics & rubber, construction materials, and others. Similar to other microspheres, polymer microspheres are used in a multitude of applications addressing different purposes. The life sciences & pharmaceutical segment is estimated to remain the most dominant application type in terms of value, in the polymer microspheres market during the forecast period.
Life sciences & pharmaceutical is the least-impacted application type by the COVID-19 pandemic. In biological research, polymer microspheres can be used as size standards for absorbing macromolecules. Also, in life sciences & pharmaceuticals, polymer microspheres improve the solvency of the ineffectively dissolvable drug and decrease the occurrence or intensity of adverse effects and reactivity of the core according to the outside condition.
Paint & coatings to be the fastest-growing application in the years to come. Key trends towards high performance, smart functionality, improved productivity, and abrasion- or scratch-resistant smart coatings, have made polymer microspheres a preferred choice in the paint & coatings industry.
Polymer microspheres reduce the need for solvents in solvent-based paint, leading to the reduction of VOC emission. Further, expanded polymer microspheres are replacing hollow glass microspheres in paint applications, owing to their elasticity property.
Which Region is expected to remain the largest market?
The pandemic may not spare any region in the short term, estimating a gigantic collapse in the demand for polymer microspheres across regions, especially in 2020. However, the long-term perspective is still plausibly good with sustainable demand across regions.
Europe is estimated to maintain its lead in the global market in the coming five years. Post-pandemic, Germany is expected to rebound quickly and will act as the growth engine of the European polymer microspheres market. Polymer microspheres are widely used in Europe as the region is one of the major markets for automotive, plastics & rubber, and building & construction.
Also, the European regulatory system for medicines to protect public health ensuring the availability of high quality, safe, and effective medicines for European citizens, would help in healing the dented growth of polymer microspheres market in the region.
Asia-Pacific, a market that is efficacious in catching the consequential attention of all the market participants, is likely to heal up at the greatest pace in the post-pandemic market scenario. China is estimated to maintain its lead in the region’s market and is also expected to further reinforce its position in the global marketplace. On the other side, India is to emerge as the next big market with significant growth potential expecting some shift of manufacturing base from China and other regions in the long run.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key players acting in the Polymer Microspheres Market:
- Chase Corporation
- Dongjin Semichem Co., Ltd.
- Kureha Corporation
- Luminex Corporation
- Matsumoto Yushi-Seiyaku Co., Ltd.
- Merck KGaA
- Nouryon
- Polysciences, Inc.
- PolyMicrospheres, Inc.
- Sekisui Chemical Co., Ltd.
Key questions answered by the report:
- What is the projected CAGR for the Polymer Microspheres Market revenue during the forecast period?
- What would the market be valued at by 2025?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Polymer Microspheres Market?
- Which are the major market players?
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