Expandable Microspheres Market Size, Share, Growth, and Industry Growth by Type (Lightweight Filler and Blowing Agents) By Application (Buildings and Infrastructure, Transportation, Consumer Goods, Food Contact Materials, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Expandable Microspheres Market REPORT OVERVIEW

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The global expandable microspheres market size was USD 598.9 Million in 2022 and market is projected to touch USD 1267.4 Million by 2031, at a CAGR of 8.7% from 2022 to 2031.

Expandable microspheres are typically microscopic spheres. The spheres are comprised of a thermoplastic shell. It has a low boiling point of liquid hydrocarbon. The volume can increase by 60 and 80 times.

The expandable microspheres market is expanding at a significant pace due to its blowing and lightweight properties. Increased demand for equipment in the automobile sector and rapid urbanization are expected to drive market progress. The growing use of the product in building applications such as synthetic wood, paint, flooring material, and others are creating lucrative opportunities for market progress. A rise in energy efficiency and growing acceptance of lightweight products in the automobile industry is projected to flourish the market progress in the upcoming years. On the contrary, a rise in the costs of raw materials is anticipated to limit the market growth. Further, the dearth of quality control in advanced regions is predicted to challenge market progress in the forthcoming years.

COVID-19 Impact: Shutting of Several Businesses and Lower Demand for The Product to Hinder Market Progress

The shutting of several businesses and lower demand for the product. Closure of construction and automotive sectors to harm market growth. Gaps in supply and demand hinder market progress. However, the product is extensively used in the healthcare sector during the pandemic period. Expansion in the medical sector to recover market progress.

LATEST TRENDS

"Huge Demand from Construction Sector to Drive Market Growth"

Increased construction activities in both developed and developing regions. The growing use of the product in building applications such as synthetic wood, paint, flooring material, and others are creating lucrative opportunities for market progress. Increased need for construction development.  The spheres are comprising a thermoplastic shell. It has a low boiling point of liquid hydrocarbon. The volume can increase by 60 and 80 times. Further, a rise in urbanization and industrialization is expected to drive market progress in the upcoming years.

Expandable Microspheres Market SEGMENTATION

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• By Type

Based on type, the market is divided into the lightweight filler and blowing agents.

Lightweight filler is expected to be the top part of type segmentation

• By Application

Based on the application, the market is divided into buildings and infrastructure, transportation, consumer goods, food contact materials, and others.

Buildings and infrastructure is expected to be the top part of application segmentation.

DRIVING FACTORS

"Increased Demand for Minimally Invasive Surgery to Boost Market Growth"

The growing need for minimally invasive surgeries among the population is expected to drive market growth. A huge need for less blood loss and reduce pain and fast recovery is anticipated to fuel market growth. Increased prevalence of chronic diseases and rapid technological advancement is projected to surge market growth. The adoption of microsphere is extensively used in minimally invasive procedures for its several benefits and is comparable better than traditional methods such as needles and catheters. Development in the healthcare sector is projected to flourish in market progress in the forthcoming years. The presence of key manufacturers is projected to drive market growth.

"High Demand from Consumer Goods to Stimulate Market Progress"

The product is extensively used in the consumer goods such as smartphones, cars, and tablets. Growing demand for consumer goods and increased spending capacity are predicted to drive market growth. The expandable microspheres market is expanding at a significant pace due to its blowing and lightweight properties. Increased demand for equipment in the automobile sector and rapid urbanization are expected to drive market progress. The growing use of the product in building applications such as synthetic wood, paint, flooring material, and others are creating lucrative opportunities for market progress. A rise in energy efficiency and growing acceptance of lightweight products in the automobile industry is projected to flourish the market progress in the upcoming years.

RESTRAINING FACTORS

"Higher Costs of Raw Materials and Quality Control to Hinder Market Growth  "

A rise in the costs of raw materials is anticipated to limit the market growth. Further, the dearth of quality control in advanced regions is predicted to challenge market progress in the forthcoming years.

Expandable Microspheres Market REGIONAL INSIGHTS

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"Increased Demand from Several Sectors in Asia Pacific to Drive Market Share "

Asia Pacific holds the expandable microspheres market share owing to increased demand from several end-user sectors such as construction, transportation, and consumer goods. The growing use of the product in building applications such as synthetic wood, paint, flooring material, and others are creating lucrative opportunities for market progress. A rise in energy efficiency and growing acceptance of lightweight products in the automobile industry is projected to flourish the market progress in the upcoming years. The presence of key manufacturers and increased production activities in the region are estimated to drive market growth. 

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Nouryon (U.S.)
• Matsumoto Yushi-Seiyaku (Japan)
• Kureha (Japan)
• Sekisui Chemical (Japan)
• Kumyang (South Korea)
• Dongjin Semichem (South Korea)
• Chase Corporation (U.S.)
• Bublon GmbH (Austria)
• The Kish Company (U.S.)
• Hunan Farida (China)
• Yunyan Materials Science
• Crerax

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.