Micro Powder Market REPORT OVERVIEW
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The global micro powder market size was USD 2814.6 million in 2022 and is projected to touch USD 3226.1 million by 2028, exhibiting a CAGR of 2.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the micro powder market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
Very fine powders with particle sizes ranging from a few micrometres to nanometers are referred to as micro powders. Because of their distinct qualities and applications, these powders are employed in a variety of sectors. It is used as a filler in a variety of items such as paint, plastics, and cosmetics. The market's expansion can be ascribed to rising demand for paints and coatings, polymers, and inks. PE is likely to lead the market in terms of type over the forecast period due to qualities such as high tensile strength, chemical resistance, and low-temperature toughness. Paints and coatings are estimated to lead the market in terms of application during the forecast period due to rising demand from end-use sectors such as automotive and construction.
COVID-19 Impact: Imposed Restrictions and Manufacturing Halt Resulted in the Fluctuating Demand, Delay and Cancellation of Projects
The COVID-19 epidemic has had a substantial influence on a number of businesses, especially those involving micro powders. Production capacity was lowered across industries as a result of lockdowns and limits on manufacturing operations. This could have had an impact on the production and their inclusion into a variety of products. Transportation and logistics issues could have hampered the timely delivery of the product and related materials, causing manufacturing plans to be disrupted. During the pandemic, changes in consumer behaviour and priorities may have resulted in changes in demand for products containing micro particles. Reduced demand for cosmetics and personal care items, for example, could have impacted the micro powder market share in that sector during lockdowns.
LATEST TRENDS
"The Sustainable Bio-based Materials and Energy Efficiency to Grow the Market Potentially"
Technological developments that have resulted in higher-quality, higher-performing products are expected to raise demand in the near future. Industries were increasingly looking for environmentally friendly alternatives, such as bio-based micro particles. These powders are made from renewable resources and can be utilised in a variety of applications such as cosmetics, polymers, and material manufacture. The demand for efficient energy storage technologies, such as batteries and supercapacitors, fueled research and development in micro powders that may improve energy storage and conversion capacities.
Micro Powder Market SEGMENTATION
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- By Type
Based on type the micro powder market is classified as PE, PP and others.
The part PE is the leading of the type segment.
- By Application
Based on application the micro powder market is classified as Paints& Coatings, Plastics, Inks and others.
The part paints and coatings is the leading type of the application segment.
DRIVING FACTORS
"Applications in Cosmetics and Pharmaceuticals to Boost the Market Growth "
Micro powders are utilised in cosmetics, skincare, and personal care products to add texture, absorb oil, improve skin feel, and increase product performance. It can be utilised in pharmaceutical formulations for drug delivery systems, where regulating particle size is critical for maintaining consistent dosage and effective drug release.
"Applications in Various Commercial Sector and Consumer Goods to Enhance the Market Growth"
Growing demand from end-use industries such as construction, automotive, and aerospace due to the benefits of employing the powder over other types of fillers. The powders are used in the manufacturing of sophisticated materials such as ceramics, composites, and coatings. They can increase the strength, durability, and electrical conductivity of materials. Micro powders of various materials are used as feedstock in 3D printing to produce complicated and detailed structures. They are used in the electronics industry to make conductive inks, thermal pastes, and dielectric materials. In the aerospace and automotive industries, micro particles can help with lightweight materials, increased fuel efficiency, and improved mechanical qualities.
Micro particles can improve the scratch resistance, UV protection, and texture of paints and coatings. The powders can be employed to improve electrode performance and energy storage capacity in battery technology. Micro particles are used to improve the hardness, transparency, and thermal resistance of ceramics and glass. It may be utilised in the food sector for applications such as flavour encapsulation or increasing the texture of specific products.
RESTRAINING FACTORS
"The Processing Challenge, Safety Concerns and Cost to Restrain the Market Growth"
Micro powder processing might be difficult. Because of their small size, they are prone to airborne dispersion, providing possible health concerns to employees and necessitating the use of specialised handling equipment to avoid exposure. Concerns have been raised about the potential health and environmental effects of nanoscale micro powders. There is continuing study to better understand the dangers linked with nanoparticle exposure. Producing with precise size and form characteristics can necessitate specialised equipment and methods, which can result in greater production costs when compared to bigger particle materials. This factors combined have a substantial influence on micro powder market growth if more sustainable and effective alternatives are found.
Micro Powder Market REGIONAL INSIGHTS
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"Asia Pacific Region to Dominate the Market with Applications in Construction and Coatings"
Asia Pacific led the global market and is predicted to do so again throughout the forecast period. The region is also expected to grow at a quick pace due to increased industrialization, expanding population, and rapid urbanisation. Due to considerable product demand from the construction sector, China accounted for more than 30% of overall regional volume. Over the forecast period, the rise of the construction industry in developing nations such as India, China, Bangladesh, and Vietnam is predicted to enhance product demand. Aside from the expanding application breadth in the paints and coatings sector, there are a few others, such as the plastics manufacturing process and food processing applications.
KEY INDUSTRY PLAYERS
"Financial Players to Contribute Towards Expansion of Market"
The market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures.
List of Market Players Profiled
- BASF (Germany)
- Clariant (Switzerland)
- BYK (Germany)
- Lubrizol (U.S.A)
- Michelman (U.S.A)
- Mitsui Chemicals (Japan)
- Elementis Specialties (India)
- NanJing Tianshi New Material Technologies (China).
REPORT COVERAGE
The SWOT analysis and information on future developments are covered in the study.The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points.The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 2814.6 Million in 2022 |
Market Size Value By |
US$ 3226.1 Million by 2028 |
Growth Rate |
CAGR of 2.3% from 2022 to 2028 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the micro powder market expected to touch by 2028?
The global micro powder market is expected to reach USD 3226.1 million by 2028.
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What CAGR is the micro powder market expected to exhibit by 2028?
The micro powder market is expected to exhibit a CAGR of 2.3% by 2028.
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Which are the driving factors of the micro powder market?
The applications in cosmetics, pharmaceutical, various commercial sectors and consumer goods are the driving factors of the micro powder market.
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Which are the key players functioning in the micro powder market?
BASF, Clariant, BYK, Inc., Lubrizol, Michelman, Mitsui Chemicals, Elementis Specialties, NanJing Tianshi New Material Technologies, Celanese, Shamrock Chemicals Corporation, Lawter, A.H.A International Co., Ltd. and others are the key players functioning in the micro powder market.
