The global microspheres market size was USD 3.98 Billion in 2016 and is projected to reach USD 6.68 Billion by 2022, at a CAGR of 9.02% between 2017 and 2022. Key players in this market have adopted strategies such as expansions and new product launches to meet the demand of end users. They are also focusing on acquisitions to strengthen their market position increasing their share in the microspheres market.
Major players operating in the global microspheres market are 3M (U.S.), Potters Industries LLC (U.S.), AkzoNobel N.V. (Netherlands), Matsumoto Yushi-Seiyaku Company (Japan), Trelleborg AB (Sweden), Luminex Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Chase Corporation (U.S.), Sigmund Lindner GmbH (Germany), and Mo-Sci Corporation (U.S.). Other manufacturers of microspheres are Polysciences Inc. (U.S.), Spherotech Inc. (U.S.), Dennert Poraver GmbH (Germany), Bangs Laboratories Inc. (U.S.), Nanjing Jianzun Glass Microsphere Plant Co., Ltd. (China), and The Kish Inc. (U.S.).
Globally, 3M (U.S.) is one of the leading microspheres manufacturers. The company has been focusing on new product launch activities to maintain its leading position in the market. For instance, in September 2015, it launched its new 3M glass bubble product, which is a high strength, low-density additive. This addition widened the glass microsphere portfolio of the company.
AkzoNobel (Netherlands) is another major player in the global microspheres market. The company has been focusing on expansions as a part of its strategic development activities. In March 2013, the company completed the expansion of its manufacturing facility in Sweden for its microspheres product line. This has boosted the capacity to meet the growing global demand and helps the company to cater the rising demand for microspheres from the healthcare industry. In November 2015, Sigmund Lindner completed the acquisition of VitroSphere GmbH (Germany). This helped the company to increase its market share for glass beads.
Microspheres Market by Type (Hollow, Solid), Raw Material (Glass, Ceramic, Fly Ash, Polymer, Metallic), Application (Construction Composites, Medical Technology, Cosmetics & Personal Care, Automotive, Oil & Gas) - Global Forecast to 2022
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