Microspheres Market
REPORT DESCRIPTION
Microspheres Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015- 2023
Transparency Market Research has published a new report titled“ Microspheres Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015- 2023”. According to the report, the global microspheres market was valued at US $ 2.72 Bn in 2014 and is anticipated to reach US $ 7.77 Bn in 2023, expanding at a CAGR of 12.4 % between 2015 and 2023.
Microspheres are small spherical particles having size( diameter) from 1 to 1000 µ m. These microstructures particles have white powdery form. Microspheres are manufactured using different natural and synthetic materials such as glass, polymer, ceramic, fly ash, metals. Owing to the superior structural and mechanical properties, microspheres are majorly used as additives or fillers to reduce the density of a material.
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On the basis of product type, microspheres market can be categorized into hollow microspheres and solid microspheres. Both the product types have comparable growth rate in the global market. On the basis of raw material, microspheres market can be segmented into glass microspheres, polymer microspheres, ceramic microspheres, fly ash microspheres, metallic microspheres, and others. Glass microspheres accounted for the largest market by material in 2014. It held over 50 % of the global microsphere market. In terms of application, microspheres market can be classified into composites, medical technology, life science & biotechnology, paints & coatings, cosmetics & personal care, oil & gas, automotive, aerospace, and others. Composites and medical technology are the largest applications for microspheres cumulatively accounting for over 50 % of the market in 2014.
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