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North America Microspheres Market Size

Report ID: GMI4844
Published Date: Oct 2020
Report Format: PDF

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North America Microspheres Market Size

North America microspheres market size to surpass USD 1.5 Billion, in 2019 and is estimated to grow over 9% CAGR between 2020 and 2026. Growing demand for light weight and eco-friendly components in manufacturing industries will drive the industry growth.

Microspheres are classified as freely flowing powders that are contains proteins or synthetic polymers that are biodegradable. Microspheres consists of various types including magnetic, polymeric, bio adhesive, biodegradable polymeric, radioactive, synthetic polymeric and floating microspheres. These microspheres generally have particle spheres less than 200 μm.

North America Microspheres Market Outlook

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The booming pharmaceutical and medical industries, along with the increasing demand for innovative drug delivery systems, are projected to drive the North America microspheres market growth. Microspheres are witnessing demand growth for bone tissue engineering and radioembolization to treat liver cancer along with the development of biopharmaceuticals.

North America Microspheres Market Report Attributes
Report Attribute	Details
Base Year:	2019
North America Microspheres Market Size in 2019:	1,557.2 Million (USD)
Forecast Period:	2020 to 2026
Forecast Period 2020 to 2026 CAGR:	9.3%
2026 Value Projection:	2,880.6 Million (USD)
Historical Data for:	2015 to 2019
No. of Pages:	167
Tables, Charts & Figures:	125
Segments covered:	Form, Material, Application
Growth Drivers:	Advancements in Medical Science & Technology Increasing Demand for Composites for Building and Construction Increasing investments in healthcare sector
Pitfalls & Challenges:	High Production Costs

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However, companies are investing in new technological developments and production capacity expansions to enhance their product portfolio. For example, in September 2015, 3M released its latest 3M glass bubble which is a low-density and high strength additive. Through this launch, the company will be able to enhance its product portfolio.

COVID 19 outbreak has led to imposition of shutdown of manufacturing units, travel ban and offices & marketplaces by governments across the world. Owing to such measures has resulted in undermining value chain across the globe. This has adversely affected raw materials supply for microspheres. This outbreak has led to global manufacturing plants shutdown which may decrease microspheres utilization.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

In 2019, North America microspheres market size exceeded USD 1.5 billion. Driven by rising demand for eco-friendly, lightweight components in manufacturing, the industry may depict 9% CAGR through 2026.

North America hollow form microspheres market share may exhibit 8.5% through 2026, as the hollow forms possess low density and are therefore deployed in aerospace and automotive sectors.

North America microspheres industry share from polymer material may cross USD 1 billion by 2026, as polymer microspheres are majorly used in the electronics industry.

U.S. microspheres market size may register 8.5% CAGR through 2026, driven by rising expenditure on residential, commercial, and industrial infrastructural development.