The global expandable microspheres market is anticipated to touch USD 2.5 billion at an 11% CAGR between 2017-2024, states the latest Market Research Future (MRFR) report. Expandable microspheres, simply put, are microscopic spheres that contain a thermoplastic shell that encapsulates a liquid hydrocarbon that has a low boiling point.
Various factors are propelling the expandable microspheres market growth. Such factors, as per the latest Market Research Future report, include the growing adoption of expandable microspheres in the construction industry especially for thermal insulation applications, increasing adoption of lightweight materials especially in the production of automobile to augment fuel efficiency, and extensive use of expandable microspheres in different end-use industries especially consumer goods, sports and leisure, construction, and automotive. Additional factors pushing the growth of the expandable microspheres market include rapid urbanization and industrialization, increasing use as lightweight fillers, increasing use of expandable microspheres in different building materials including lightweight clay, putty/sealing material, synthetic wood, flooring material, and wallpaper, and the different benefits that it offers such as a smoother surface sans pinholes, flexibility, low density, and cost reduction.
On the contrary, the use of halogenated hydrocarbons may have a detrimental impact on the environment, and hydrocarbons that are non-halogenated such as cyclopentane or iso, may fail in producing foam insulation which are factors that are likely to restrict the expandable microspheres market growth during the forecast period.
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Notable players profiled in the expandable microspheres market report include Shanghai Joysun Chemical Co., Ltd (China), SEKISUI CHEMICAL CO., LTD. (Japan), Nanosphere (China), Chase Corporation (US), Dennert Poraver GmbH (Germany), KUREHA CORPORATION (Japan), Nouryon (Netherlands), Matsumoto Yushi-Seiyaku Co.,Ltd (Japan), Mark Impex (India), and Nanjing Chemical Material Corp. (China). Key players have incorporated different strategies to stay ahead in the competition, such as research and development activities, collaborations, partnerships/joint ventures, product launches and developments, mergers and acquisitions, and more.
May 2019: Leading expandable microspheres producer Nouryon has recently completed its expansion in Sweden to strengthen their leadership position in expandable microspheres significantly.
The Market Research Future report provides an all-inclusive segmental analysis of the expandable microspheres market on the basis of type as well as end use industry.
By type, the expandable microspheres market is segmented into dry and wet. The dry type is highly fluid and ultra-light, and the wet form is supplied with about 90% water content that offers a lot of benefits such as easy handling operation, especially of plastic microspheres and a working environment that is dust-free.
By end use industry, the expandable microspheres market is segmented into consumer goods, sports and leisure, construction, automotive, and others. Of these, the automotive segment will have the maximum share in the market during the forecast period. Various factors propelling the growth of the segment include infrastructural development worldwide, booming construction industry, rising industrialization and urbanization, and pertaining strict rules related to vehicular emission reduction for protection of the environment.
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By region, the expandable microspheres market report covers the latest trends and growth opportunities across Europe, Latin America, North America, the Middle East and Africa, and the Asia Pacific. Of these, the APAC region will lead the market during the forecast period. Factors pushing the growth of the expandable microspheres market in the region include changing lifestyles and consumers’ disposable income that is boosting the automobile production in the region coupled with fast-paced urbanization and industrialization. Singapore, Malaysia, Thailand, Vietnam, and India are the major contributors in the region.
The expandable microspheres market in North America will have significant growth during the forecast period. Factors pushing the growth of the expandable microspheres market in the region include increasing investments in infrastructural development coupled with the US EPA regulation implementation for curbing fuel emissions is predicted to boost the demand for lightweight cars that in turn will have a positive impact on the market growth in the region.
The expandable microspheres market in Europe will have a healthy growth during the forecast period owing to the high production as well as the sale of automotive components in Russia, Italy, France, the UK, and Germany.
The expandable microspheres market in the Middle East & Africa will have stable growth during the forecast period.
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