Summary
The APAC Microspheres Market has been estimated at USD XX million in 2016 and is projected to reach USD XX million by 2021, at a CAGR of XX % during the forecast period from 2016 to 2021.
Microspheres are spherical micro particles with their size ranging from 0.1 to 100 micrometer. They are used where consistent and predictable particle surface area is important. Microspheres have external pores on the surface or internal pores in the core. Some uses of these particles include carriers for drugs, high speed chromatography, cell delivery, and tissue regeneration as a scaffold.
Microspheres are most commonly used in the oil & gas industry. The end-user industries for this product include aerospace industry, cosmetics industry, automotive industry, paints & coatings industry, medical technology, composites and others. In 2015, in terms of revenue, XX industry accounted market share of XX % of the Asia-Pacific microspheres market.
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Market Dynamics of the APAC Microspheres Market: Drivers:
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Advancements in medical science & technology Recyclability & reusability
Restraints:
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Fluctuating prices of the raw materials High production costs
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The APAC microspheres market can be broadly segmented on the basis of types( hollow and solid microspheres); on the basis of raw materials( glass, polymers, metallic, ceramics, fly ash, and others) and also on the basis of geography( China, India, Japan, South Korea, Malaysia, Singapore, Thailand, Indonesia, Australia & New Zealand and Rest of APAC). The microspheres made from fly ash are also termed as cenosphere.
The market has more relevance today because of the growing demand for microspheres in cancer treatment drugs. Apart from that, the expansion of end-user industries into new and emerging markets has led to new opportunities for the growth of the APAC microspheres market.
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