Expandable Microspheres Market Overview
Expandable microspheres are thermally expandable microcapsules, consisting of a polymer shell encapsulating a gas blowing agent; usually aliphatic hydrocarbon. When heated, the hydrocarbon in the shell undergoes a phase change, softening the shell, which results in an increase in the volume of microspheres by 50-100 times. Upon cooling a hollow and extremely light plastic sphere remains.
The growth of the global expandable microspheres market is majorly driven by its extensive use as a lightweight filler and blowing agent. The use of expandable microspheres as lightweight filler offers benefits such as cost reduction, low density, flexibility, and a smoother surface with no pinholes. It is generally used as lightweight filler in applications such as elastomeric cool roof coatings, paints, cultured marble, underbody coatings and sealants, and polyester putties. On the other hand, expandable microspheres as blowing agent provide highly controlled foaming, which results in uniform and fine cell structure along with outstanding stability during processing, shorter cycle times, and an attractive surface finish. The excessive use of these microspheres in the weight reduction of automobile headliners, undercoating, sealants, and interior materials such as door trims and ceiling materials is a major driver of the global market. The high demand for lightweight automobiles on account of the stringent regulations for environment protection by the US Environment Protection Agency (EPA) and the European Union Legislation is fueling the demand for expandable microspheres in automobile production. This is attributed to the lightweight properties that enhance the fuel efficiency of the vehicle and reduce the emission of CO2. Moreover, the increasing use of these microspheres in various building materials such as wallpaper, flooring material, synthetic wood, paint, putty/sealing material, and lightweight clay is also positively influencing the global market growth. The rapid industrialization and urbanization in developing regions as well as rising infrastructure development in developed regions are projected to result in an increased number of construction activities, thereby driving the global market growth during the review period. However, the use of halogenated hydrocarbons that have detrimental environment effects as well as the non-halogenated hydrocarbons such as iso or cyclopentane which fail to produce foam insulation is expected to hamper the global market growth during the review period.
The global microspheres market was valued at USD 2.5 billion in 2014 and is projected to register a CAGR of over 11% by 2030. The increasing adoption of expandable microspheres in a number of applications such as printing inks and food packaging has resulted in manufacturer’s inclination towards strategic growth initiatives such as expansion. For instance, in March 2019 Nouryon announced to build a polymerization plant for its Expancel expandable microspheres in the US. The plant is expected to be operational by late 2020 and is an important step to meet the fast-growing demand for the product.
Global Expandable Microspheres Market, by End-Use Industry (%)
Source: MRFR Analysis
The global expandable microspheres market has been segmented into five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia-Pacific market accounted for the largest market share in 2018 on account of the growth of the automotive and construction industry in the region. The growth of the construction industry is attributed to the fast-paced industrialization and urbanization in the growing economies such as India, Vietnam, Thailand, Malaysia, and Singapore. The rising disposable income of consumers and their changing lifestyles are fueling the production and sale of automobiles in the region, which in turn is expected to drive the regional market growth.
North America is projected to witness significant growth during the forecast period owing to the high investments in infrastructural development. The implementation of the US EPA regulations to curb fuel emissions is expected to propel the demand for lightweight automobiles, thereby the demand for expandable microspheres.
The high production and sale of automotive components in major European countries such as Germany, the UK, France, Italy, and Russia are likely to drive the regional market growth during the assessment period in the European region.
The global expandable microspheres market has been segmented on the basis of type, end-use industry, and region.
Based on type, the global market has been divided into dry and wet.
By end-use industry, the global market has been categorized into automotive, construction, sports & leisure, consumer goods, and others.
Some of the key players operating in the global expandable microspheres market are Nanjing Chemical Material Corp. (China), Mark Impex (India), Matsumoto Yushi-Seiyaku Co.,Ltd (Japan), Nouryon (Netherlands), KUREHA CORPORATION (Japan), Dennert Poraver GmbH (Germany), Chase Corporation (US), Nanosphere (China), SEKISUI CHEMICAL CO., LTD. (Japan), and Shanghai Joysun Chemical Co., Ltd (China).Recent DevelopmentFebruary 2022 - Sirtex Medical, an eminent developer of targeted liver cancer therapies, teams up with its major shareholder, Grand Pharmaceutical Group Limited, confirming the approval of SIR-Spheres Y-90 resin microspheres by the National Medical Products Administration for treating patients affected by colorectal cancer liver metastases. SIR-Spheres Y-90 resin microspheres will be the first and the only radioactive microsphere item that has received the approval from the NMPA achieved outside of China.November 2021 - Nouryon has started the engineering stage at its plant developing Expancel expandable microspheres in Wisconsin, accelerating its mission to better serve its North American customers that are interested in specialty additives. Construction of the unit is expected to pick up by the end of the year.The Green Bay, Wisconsin spot has been selected as it complements the brand’s current production facilities in Brazil, China, and Sweden. Expandable microspheres help lighten several end products while reducing the total costs as well as the environmental impact as these require less raw material. With the dramatic rise in the demand for expandable microspheres, mostly in the construction, transportation and packaging industries across North America, the company is accelerating its plans to foster its production rate while focusing on the worldwide sustainability trends.
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Nanjing Chemical Material Corp. (China), Mark Impex (India), Matsumoto Yushi-Seiyaku Co.,Ltd (Japan), Nouryon (Netherlands), KUREHA CORPORATION (Japan), Dennert Poraver GmbH (Germany), Chase Corporation (US), Nanosphere (China), SEKISUI CHEMICAL CO., LTD. (Japan), and Shanghai Joysun Chemical Co., Ltd (China)|
|Key Market Opportunities||The high demand for lightweight automobiles on account of the stringent regulations for environment protection by the US Environment Protection Agency (EPA) and the European Union Legislation|
|Key Market Drivers||Its extensive use as a lightweight filler and blowing agent.|
The use of expandable microspheres as a blowing agent and filler is the major driver of the global expandable microspheres market.
Use of halogenated hydrocarbons is the major growth deterrent of the global expandable microspheres market.
The global expandable microspheres market is expected to expand at 11% CAGR from 2017 to 2024.
The global expandable microspheres market was worth USD 2.5 billion in 2014.
Shanghai Joysun Chemical Co., Ltd, Chase Corporation, Matsumoto Yushi-Seiyaku Co., Ltd, Dennert Poraver GmbH, Nanosphere, Nouryon, Mark Impex, SEKISUI CHEMICAL CO., LTD., Nanjing Chemical Material Corp., and KUREHA CORPORATION are major players of the global expandable microspheres market.