2014-04-22 03:31:01 - Microspheres: Technologies and Global Markets - a new market research report on companiesandmarkets.com
The global microspheres market is projected to reach $2.4 billion in 2013. It is expected that the market will reach $4.4 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 12.6% for the period 2013 to 2018.
Technological advances are helping microspheres in assuming their new role as a functional additive and enabling technology that offers benefits such as reduced cost and improved product quality. Microspheres are currently used in a wide variety of industries ranging from medical devices to syntactic foams. The swift pace of development experienced by the industry calls for an in-depth analysis that incorporates all the industries and global markets for microspheres and forecasts its direction through 2018.
The composites industry has
been using microspheres as filler material for decades. A significant increase in demand for microspheres from the life sciences markets is expected, which include medicine and biotechnology. These industries require extremely high-quality products and microspheres which are biocompatible, safe, stable, and display desired functionality.
There is a lot of pressure on companies to formulate with eco-friendly "green" ingredients, especially in personal care and medical technology. This creates a developing market for biodegradable microspheres as well microspheres made from natural materials. The number of such products on the market is limited and their high cost makes them cost-prohibitive for the majority of applications, thus making this area promising for research and development.
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