Expandable Microspheres Market Size Worth USD 1,459.9 Million in 2032 | Emergen Research

Vancouver, Jan. 01, 2024 (GLOBE NEWSWIRE) -- The global expandable microspheres market size was USD 626.7 Million in 2022 and is expected to register a rapid revenue CAGR of 8.9% during the forecast period.  In a recent market research report, the global expandable microspheres market is witnessing significant growth, driven by their lightweight properties and versatile applications in industries such as automotive, construction, sports, leisure, and consumer goods. The demand for expandable microspheres is expected to surge in the construction sector, with a projected Compound Annual Growth Rate (CAGR) of 4.2% until 2030.

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Key Market Trends:

Construction Industry Boosts Demand:

Expandable microspheres, known for their durability and lightweight nature, are becoming indispensable in the production of building components.

Manufacturers are experiencing increased orders and sales volumes due to the pivotal role played by expandable microspheres in meeting rising demands in the construction sector.

Industry Milestone:

On October 30, 2023, Nouryon, a global specialty chemical company, announced the commencement of volume production at its new Expancel expandable microsphere facility in Green Bay, Wisconsin, U.S. This facility aims to better serve North American customers in various industries.

Challenges and Restraints:

Volatile manufacturing costs and intricate production processes pose challenges to the market's revenue growth.

Limited mechanical strength and high swelling pressure require precise manufacturing procedures, contributing to increased operational costs.

The use of toxic chemicals in the expansion process and the need for stringent quality control measures further impact production costs.

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Market Segmentation:

Type Insights:

Dry Expandable Microspheres Segment Leads: In 2022, the dry expandable microspheres segment dominated the market, driven by increased demand in construction, packaging, and medical materials. These microspheres, effective in dissipating moisture, find applications in ensuring optimal performance and longevity in various industries.

Product Insights:

Rapid Growth in Lightweight Fillers: The lightweight fillers segment is anticipated to witness steady revenue growth, especially in the construction industry. Lightweight fillers offer increased safety, reduced side effects, and precise control over the construction process, contributing to reduced weight and enhanced insulation.

Application Insights:

Building and Infrastructure Dominate: The building and infrastructure segment is expected to hold a significant revenue share due to the widespread adoption of expandable microspheres in constructing high-rise buildings, bridges, and tunnels. The microspheres' fire resistance and strength make them a preferred choice in the construction industry.

End-Use Insights:

Moderate Growth in Automotive Sector: The automotive segment is projected to experience moderate revenue growth, driven by the demand for lightweight fillers. Incorporating expandable microspheres in vehicles enhances fuel efficiency and acoustic performance, contributing to design flexibility and innovation.

Regional Insights:

Asia Pacific Leads: The Asia Pacific market accounted for the largest revenue share in 2022, driven by the adoption of lightweight fillers in construction industries, particularly in China, Japan, South Korea, and India. Government regulations promoting green buildings further contribute to market growth.

North America Fastest Growing: North America is expected to register the fastest revenue growth, with the U.S. and Canada driving demand in the construction sector. The region's focus on multifamily construction and substantial spending in the construction industry propel market growth.

Europe's Considerable Share: Europe is poised to account for a considerable revenue share, fueled by the increasing need for lightweight materials in countries like the UK, Germany, and France. The automotive industry, a significant market for lightweight materials, is driving the demand in the region.

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Scope of Research

Major Companies and Competitive Landscape

The global expandable microspheres market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective expandable microspheres in the market. Some of the major companies included in the global expandable microspheres market report are:

• Givaudan
• Trelleborg AB
• Momentive
• Matsumoto Yushi-Seiyaku Co.
• Luminex Corporation
• The Cary Company
• Sigmund Lindner GmbH
• KUREHA CORPORATION
• Nouryon
• Zhejiang Joysun New Materials Co., Ltd.
• The Kish Company, Inc.
• Chase Corp
• Akzo Nobel N.V.
• Thermo Fisher Scientific Inc.
• SEKISUI CHEMICAL CO., LTD.
• Poraver
• 3M

Strategic Development

• On 4 October 2021, Trelleborg Group expanded geographically with the establishment of production facilities in Russia, Vietnam, Japan and Morocco. These will be the group's first in-house production facilities in these countries. The total investment will amount to approximately SEK 300 million (USD 28.7 million) over five years. When the facility is fully operational in 2026, it expects to have just over 300 employees.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global expandable microspheres market on the basis of type, product, application, end-use, and region:

• Type Outlook (Revenue, USD Million; 2019-2032)

• • Dry
  • Wet

• Product Outlook (Revenue, USD Million; 2019-2032)

• • Lightweight Fillers
  • Blowing Agents

• Application Outlook (Revenue, USD Million; 2019-2032)

• • Buildings and Infrastructure
  • Transportation
  • Consumer Goods
  • Food Contact Materials
  • Others

• End-use Outlook (Revenue, USD Million; 2019-2032)

• • Automotive
  • Construction
  • Sports and Leisure
  • Consumer Goods
  • Others

• Regional Outlook (Revenue, USD Million; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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