The global polyurethane (PU) microspheres market is
expected to reach USD 88.01 million by 2024, according to a new report by Grand
View Research, Inc. Increasing usage of PU microspheres as encapsulants in crop
protection and drug delivery system is expected to remain a key demand driver
over the forecast period.
Technical
feasibility problems such as poor control of drug release and inactivation of
drugs during fabrication have led producers to integrate backward and
manufacture microspheres on their own, meeting over half of the total demand.
Pricing of
PU microspheres is largely influenced by costs associated with its synthesis
from base resin. Also, additive pricing plays a major role as their composition
varies according to the end-use requirements and product grades. A stable
outlook for PU resin prices is likely to have a positive impact on producer’s
margins and prices at the consumer level.
Encapsulation
emerged as the most dominant application segment and accounted for over 45% of
total market volume in 2015. Paints & coating is expected to witness the
highest growth rate of 5.3% from 2016 to 2024, growth being driven by
increasing use of PU based paints acting as a matting agent in wood floor
furnishings and automotive coatings.
To request a
sample copy or view summary of this report, click the link below:
Further key findings from the study suggest:
- The global polyurethane microspheres market demand was 16.5 kilo tons in 2015 and is expected to reach 25.4 kilo tons by 2024, growing at a CAGR of 4.9% from 2015 to 2024
- Adhesive film is expected to exhibit considerable growth and is expected to account for over 10% of global volume by 2024. Rapidly growing electronics and packaging industries in emerging economies of China and India is anticipated to boost application segment growth over the forecast period.
- Europe was the leading regional market with demand share estimated over 34% in 2015. It is a key consumer of wood, plastic and architectural coatings required for automotive underbody necessitating use of PU microspheres. Increasing compliance of these particles with stringent EU regulations is expected to positively impact regional demand.
- Asia Pacific is poised to be the fastest growing regional market on account of expanding industrial base and growing major end-use industries such as construction and electronics.
- Latin America is projected to grow at an estimated CAGR of 5.1% from 2016 to 2024. The growth can be attributed to rapid urbanization resulting in need for sustainable infrastructure and consequent demand for paints & coatings.
- Polyurethane microspheres industry is moderately consolidated with the presence of few participants across the globe. Some leading companies operating in the global market include Bayer Material Science, Kolon Industry, Inc., Supercolori S.p.A., Chase Corporation and Microchem.
See More
Reports of This Category:
About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
No comments:
Post a Comment