The growing demand for microspheres can be attributed to advancements in chemical and biological testing. With a large portfolio offerings pertaining to the microspheres market, it is difficult to peg a single industry as the driver of sales within the market. From pharmaceuticals to aerospace, majority of the high-end industries consumer microspheres in some capacity. To exemplify, assays used in drug development and biology can be measures with the help of microspheres. The chemical industry has been at the helm of market growth and maturity. The unprecedented requirement for improved research lines, especially the ones that involve microspheres, has aided market growth. Henceforth, the global microspheres market is set to attract formidable demand in the times to follow.

Manufacturing of polymers and glass also involves the use of microspheres that help in reducing the material density. Buoyancy applications of microspheres also play a defining role in driving demand within the global market. Manufacturing of ceramics and other related materials necessitates filtering of particles. Moreover, these ceramics can be used to manufacture concrete and building materials. Use of microspheres in the domain of ceramic manufacturing has ushered an era of growth and advancement within the market. In addition to this, particle image velocimetry is also an important process that involves the use specialised microspheres.

In this report preview, Transparency Market Research decodes the key segments pertaining to the global microspheres market. The preview focuses on defining the role of each of these segments in driving market demand. The global microspheres is estimated to grow at a remarkable CAGR of 12% over the period between 2015 and 2023. Furthermore, the total value of this market is expected to reach US$ 7.77 bn by the end of the forecast period. The cost dynamics associated with the use of microspheres in various industries shall also play a defining role in market growth.

Cosmetic Manufacturing to Cause Demand-Uptick within Microspheres Market

On the basis of application, the use of microspheres spans into leading industries such as life sciences, cosmetics, pharmaceuticals, paints and composites, aerospace, automotive, and oil and gas. Manufacturing of anti-aging cosmetic products that can hide wrinkles necessitates the use of microspheres that can soften and rejuvenate the skin. In addition to this, microspheres are also used in the pharmaceutical and medical industries. The need for drug delivery has led researchers to develop microscopic technologies that can accomplish the process.

Several market experts believe that the growth of the oil and gas industry would pave way for the inflow of voluminous revenues into the global microspheres market. The need for pinpoint control within this industry shall create increased demand for microspheres in the oil industry. Furthermore, electronic paper and insulation technologies are amongst other key end-use areas for microspheres. Advancements in chemical engineering shall unravel new opportunities for growth within this market.

North America Microspheres to Lead Market Growth

On the basis of geography, the global microspheres market can be segmented into South America, Europe, Asia Pacific, the Middle East and Africa, and North America. The growing relevance of personal care products, especially in the US, has played an integral role in driving sales across the North America market. The oil and gas industry of the Middle East and Africa has matured at a much faster pace as against industries of other regions. This trend has given a thrust to the growth of the Middle East microspheres market.

Some of the key players operating in the global microspheres market are Akzo Nobel N.V, Nanjing Jianzun Glass Microsphere Plant Co., Ltd., Matsumoto Yushi-Seiyaku Co.,Ltd, Dennert Poraver GmbH, Potters Industries LLC, and Momentive Performance Materials Inc.