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.
In depth research report on Polyurethane (PU) 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.
Grand View Research has
segmented the polyurethane (PU) microspheres market on the basis of application
and region:
Global Polyurethane (PU) Microspheres Application Outlook
(Volume, Tons; Revenue, USD Million, 2014 - 2024)
•
Encapsulation
•
Paints & Coatings
•
Adhesive Films
•
Cosmetics
•
Others
Global Polyurethane (PU) Microspheres Regional Outlook
(Volume, Tons; Revenue, USD Million, 2014 - 2024)
•
North America
•
U.S
•
Canada
•
Europe
•
Germany
•
UK
•
Asia Pacific
•
India
•
China
•
Central & South America
•
Middle East and Africa
Browse more research 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, 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 market analysis reports, please visit: http://www.grandviewresearch.com/
No comments:
Post a Comment