Global Microspheres Market to Reach $5.2 billion by 2018
The increasing demand for efficiency and materials with superior structural properties are expected to drive the global microspheres market to $5.2 billion by 2018, according to a new report from Research and Markets. “Microspheres Market by Type, Application & Raw Material—Global Trends & Forecasts to 2018” identifies market dynamics such as drivers, restraints, opportunities, burning issues, and winning imperatives to provide an examination of the market to 2018.
Factors driving growth in the global microspheres market include high demand from current and emerging applications, superior structural properties, recyclable and reusable, development and modernization of infrastructure, and increased demand for efficiency. The factors reportedly hindering the growth of this market are the fluctuating cost of raw materials, lack of quality control across developing countries, and huge investment in R&D.
The U.S. leads the global market in terms of usage of advanced materials, and it is expected to experience the highest revenue growth during the next five years. The market is growing slowly in Europe and Eurasia, but is expected to continue to grow at significant rate in the Asia-Pacific region. Asia-Pacific is driven by countries such as China, the fastest growing country in global microspheres market. While the microspheres market is still in infancy stage in Latin America, this region is experiencing high growth due to increased infrastructure spending. Overall, North America and Asia-Pacific are reportedly the most lucrative microspheres markets.
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