Jan 04, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Polymer Microspheres Market.
It was estimated prior to this unanticipated outbreak that the Polymer Microspheres Market to projected to witness an impressive double-digit CAGR over the next five years to reach US$ 1.6 billion in 2025. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Polymer microspheres are small spherical plastic particles mainly made up of polyethylene (PE), polypropylene (PP), polystyrene (PS), polymethyl methacrylate (PMMA), or other polymers, range in size from 1-1,000 micrometers. There are two types of polymer microspheres: expanded polymer microspheres and solid polymer microspheres. Expanded polymer microsphere can expand up to 5 times its original diameter with 50-120 times increase in volume. Expanded polymer microspheres consist of a polymer shell encapsulating a gas; when heated, the internal pressure from the gas increases and the thermoplastic shell softens, resulting in a dramatic increase in the volume of the microspheres.
Over the past few eons, biodegradable polymer microspheres are gradually becoming the center of attraction because of their increased popularity of controlled drug delivery. Their small particle size makes them ideally suited for medical treatments in which the particle size is of critical importance. Further, these microspheres improve the bioavailability of conventional drugs, minimize the side effects, and enhance the solubility of the poorly soluble drug.
Segment Analysis
By Microsphere Type
The polymer microspheres market is segmented as expanded polymer microspheres and solid polymer microspheres. Expanded polymer microsphere is likely to remain the most dominant microsphere type in the market during the forecast period. Expanded polymer microspheres have lower emissivity spectrum than commercial paints (λ = 0.35 – 4 µm vs λ = 4 – 40 µm), which means that absorbent of less solar radiation than the commercial paints, resulting in better performance during the daylight.
Further, expanded polymer microspheres can expand without any discoloration and outgassing issues of chemical foaming agents, or breakage which is common with hollow glass microspheres. Also, by adding as little as 2%-3% by weight, it can reduce the product’s weight by as much as 50%. They can easily mix and achieve density reduction levels between 10%-30% in injection molding.
By Application Type
The market is classified as life sciences & pharmaceutical, paints & coatings, plastics & rubber, construction materials, and others. Similar to other microspheres, polymer microspheres are used in a multitude of applications addressing different purposes. The life sciences & pharmaceutical segment is estimated to remain the most dominant application type in terms of value, in the polymer microspheres market during the forecast period.
Life sciences & pharmaceutical is the least-impacted application type by the COVID-19 pandemic. In biological research, polymer microspheres can be used as size standards for absorbing macromolecules. Also, in life sciences & pharmaceutical, polymer microspheres improve the solvency of the ineffectively dissolvable drug and decrease the occurrence or intensity of adverse effects and reactivity of the core according to the outside condition.
Paint & coatings to be the fastest-growing application in the years to come. Key trends towards high performance, smart functionality, improved productivity, and abrasion- or scratch-resistant smart coatings, have made polymer microspheres a preferred choice in the paint & coatings industry. Polymer microspheres reduce the need for solvents in solvent-based paint, leading to the reduction of VOC emission. Further, expanded polymer microspheres are replacing hollow glass microspheres in paint application, owing to its elasticity property.
Regional Insights
The pandemic may not spare any region in the short-term, estimating gigantic collapse in the demand for polymer microspheres across regions, especially in 2020. However, the long-term perspective is still plausibly good with sustainable demand across regions. Europe is estimated to maintain its lead in the global market in the coming five years. Post pandemic, Germany is expected to rebound quickly and will act as the growth engine of the European polymer microspheres market. Polymer microspheres are widely used in Europe as the region is one of the major markets for automotive, plastics & rubber, and building & construction. Also, the European regulatory system for medicines to protect public health ensuring the availability of high quality, safe, and effective medicines for European citizens, would help in healing the dented growth of polymer microspheres market in the region.
Key Players:
The key players in the market are:
- Chase Corporation
- Dongjin Semichem Co., Ltd.
- Kureha Corporation
- Luminex Corporation
- Matsumoto Yushi-Seiyaku Co., Ltd.
- Merck KGaA
- Nouryon
- Polysciences, Inc.
- PolyMicrospheres, Inc.
- Sekisui Chemical Co., Ltd.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Polymer Microspheres analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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