Westford, USA, June 13, 2023 (GLOBE NEWSWIRE) -- The global Expandable Microspheres market size is expected to reach USD 22.21 billion by 2030 and exhibit a CAGR of 11.6% in the forecast period (2023−2030), according to Skyquest's latest research report. The Increasing usage of lightweight fillers and blowing agents, expanding application areas in the construction and aerospace industry, and demand for eco-friendly and sustainable materials are fueling the Market's growth.
Government Subsidies and Trends to Promote the Use of Expandable Microspheres
At a global scale, the emergence of new technology is for the production of expandable microspheres such as suspension, polymerisation, and spray dying, growing demand for environment-friendly products, rising demand for high-performance coatings in the construction industry, increase in the use of expandable microspheres in the automotive industry are the trends promoting the growth of the market.
Several governments across the globe are focusing on sustainable and environmentally friendly solutions that may impact the market's growth.
Expandable Polystyrene Microspheres Type Demand to Grow Substantially in the Forecast Period
Expandable polystyrene microspheres type dominated the global market owing to their wide range of applications in various industries such as construction, automotive, packaging, and coatings. It is also lightweight, and rigid and offers excellent insulation properties, making them an ideal choice for several applications.
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Plastic Industry is the Leading Application Segment
In terms of application, the plastic industry segment is the leading segment due to Its use as a blowing agent in plastic foams. In addition, it is used as a blowing agent due to its properties such as low density, high compressive strength and excellent insulation properties.
Asia-Pacific is the leading Market for Using Clean Energy
Region-wise, Asia-Pacific is one of the largest growing markets due to increasing demand for construction materials and coatings in emerging economies like China and India. The region is also witnessing significant investments in the automotive and aerospace industries, which are major consumers of expendable microspheres.
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Expandable Microspheres Market Report Suggests:
- Nouryon recently launched HP92 microspheres, which is a novel addition to thermoplastic microsphere fillers used in high-pressure manufacturing processes in the automotive industry. The automotive sector demands lightweight materials to comply with strict emission regulations while catering to customer expectations of fuel-efficient vehicles without compromising performance or passenger comfort.
- In terms of application, the Plastic Industry segment dominates due to its wide use.
- In terms of type, the expandable polystyrene microspheres type segment is projected to gain more popularity due to its wide range of applications
- Asia Pacific is the leading markets and will continue to exhibit dominance in the global market mainly due presence of major market players
Expandable Microspheres Market Segmentation:
The global Expandable Microspheres market report is segmented based on type, application, and region.
By Type
- Unexpanded
- Expanded
- Others
By Application
- Construction & Building
- Packaging
- Automotive
- Paints & Coatings
- Others
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
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Expandable Microspheres Market Major Company Profiles:
- AkzoNobel N.V.
- Asia Pacific Microspheres Sdn. Bhd.
- Chase Corporation
- Ceno Technologies
- Dennert Poraver GmbH
- EKOPLASTIK, s.r.o.
- EPS Industry Alliance (US)
- Expancel Inc.
- Kureha Corporation
- Luminex Corporation
- Matsumoto Yushi-Seiyaku Co., Ltd.
- Merck KGaA
- Microchem Corp.
- Nanosphere Health Sciences, Inc.
- Neospheres GmbH
- Omya AG
- Particle Works Ltd.
- Polysciences, Inc.
- Trelleborg AB
- Zhongke Yali Technology Co., Ltd
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