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.
U.S. polyurethane microspheres
market revenue by application, 2014 - 2024 (USD Million)
Browse full research report on
Polyurethane Microspheres Market
Further key findings from
the report 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.
About Grand View Research, Inc:
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, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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