The
global polyurethane (PU) microspheresmarket 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.
Browse full report by Grand View
Research :
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.
Browse more reports of
this category by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
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
o
U.S
o
Canada
·
Europe
o
Germany
o
UK
·
Asia
Pacific
o
India
o
China
·
Central
& South America
·
Middle
East and Africa
Access
press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-polyurethane-pu-microspheres-market
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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
No comments:
Post a Comment