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Polyurethane (PU) Microspheres Market Expected to Witness a Significant Growth By 2024

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. The Global Polyurethane (PU) Microspheres Market is expected to reach USD 88.01 million by 2024, according to a new report by Grand View Research, Inc.

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.

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.

To Know More About Polyurethane Microspheres Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/polyurethane-pu-microspheres-market

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.

Top Players of Polyurethane (PU) Microspheres Market:

Some leading companies operating in the global market include Bayer Material Science, Kolon Industry, Inc., Supercolori S.p.A., Chase Corporation and Microchem.

Market Segmentation of Polyurethane (PU) Microspheres Market:

The Global Polyurethane (PU) Microspheres Market segmented on the basis of Application and Region.

By Application:

    Encapsulation
    Paints & Coatings
    Adhesive Films
    Cosmetics

By Region:

    North America
    Europe
    Asia Pacific
    Central & South America
    Middle East and Africa

Inquire about Polyurethane Microspheres Market with Our Experts @ https://www.grandviewresearch.com/inquiry/2896

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