FREMONT, CA: Technavio, a technology research and advisory company announces the global research market report. According to the report the microsphere market is expected to grow at a CAGR (compound annual growth rate) of 10.5% and is expected to reach USD 5.52 billion by 2020.
The global market for microspheres exhibit a comprehensive analysis of the global microspheres market by application (medical technology, construction composites, biotechnology and medicine, cosmetics and personal care), by raw material type (glass and others), by type (hollow and solid), and by geography (APAC, Europe, North America, and ROW).
Competitive landscape and key vendors
The top six vendors in the global microspheres market highlighted in the report are: 3M, Akzo Nobel, Chase, Momentive Performance Materials, Potters Industries, Sigmund Linder.
Geographical segmentation and analysis of the microspheres market
Technavio’s research study segments the global microspheres market into the following regions:
North America: Analysts have estimated the North American region to grow by market share of more than 43% by 2020. Construction composites hold the majority of the share in the North American microspheres market while the medical technology markets have been experiencing maximum growth.
Europe: Europe accounted for about 29% of the global microspheres market in 2015. The microspheres market in Europe will reach USD 1.58 billion by 2020.
APAC: Australia, China, and India are the major revenue contributors to the market in APAC. Technavio expects the demand from manufacturing and medical industries for microspheres in the emerging economies in APAC
ROW: This region is experiencing high growth on account of increased infrastructure spending and low base effect. Central and South America offers significant prospects for manufacturers establishing their manufacturing bases and sales offices because of its flourishing oil and gas industries.