(PRWEB) June 06, 2013
The report "Microsphere Market By Type (Hollow, Solid), Application (Construction Composites, Medical Technology, Paints & Coatings, Cosmetics, Oil & Gas, Automotive, Aerospace) & Raw Material (Glass, Ceramic & Others) — Global Trends & Forecasts to 2018", defines and segments the global microspheres market with analysis and forecasting of the global revenue. Microspheres market will grow to $5.2 billion by 2018, with a very high CAGR from 2013 to 2018.
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Microspheres market is mainly driven by growing demand for efficiency and light weight components and materials. The superior structural properties offered by these advanced materials are the prime reason why microspheres are experiencing huge surge in demand from existing and emerging applications. North America, due to its huge appetite for advanced materials that offer better process control and enhance the efficiency of operations, is the major growth engine for this market.
The enormous potential of this market is attracting various small and big level industry players. The microspheres market is experiencing a boom especially in China due to heavy spending on infrastructure and the flourishing manufacturing industry. Latin America, due to its booming oil and gas industries, offers significant prospect for the manufacturers establishing their manufacturing bases and sales offices in the region. On account of growing demand for efficient and environment friendly materials which cause minimal damage to the surrounding, the market will experience an escalation in the demand of microspheres in the years to come.
The microspheres industry players are constantly trying to modify their product line with highly customized and advanced microspheres in order to bag more supply contracts which in turn increases their market shares. Most of the companies offer only a particular kind of microsphere. In terms of global market, the industry comprises of many small market participants with only few major companies globally. U.S. chemical giant 3M Company is the largest player of this market followed by several other players such as Potters Industries (U.S.) and Sigmund Lindner GmbH (Germany).
The report forecasts revenue of the global microspheres market and its various submarkets with respect to five main regions viz. North America, Europe & Eurasia, Asia-Pacific, Latin America, and Middle East & Africa. The countries such as U.S., China, Canada, and Germany were also analyzed.
The report segments the global microspheres market by major applications namely construction composites, medical technology, life sciences & biotechnology, paints & coatings, cosmetics & personal care, oil & gas, automotive, aerospace, and others. The types of microspheres included are hollow and solid. Also, the types of raw materials used for the manufacture of microsphere include glass, ceramic, fly ash, polymer, metallic, and others. It also focuses on market share analysis and market metrics such as drivers, restraints, opportunities, and winning imperatives.
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