(EMAILWIRE.COM, May 06, 2023 ) Polyurethane microspheres are small spherical particles made from polyurethane polymers. They are commonly used as fillers, thickeners, and adhesives in various industries, including paints and coatings, cosmetics, and medical devices. The growing demand of repositionable adhesives, increased application in the architectural segment as a coating material, and its use as an encapsulant in drug delivery and crop protection drives the demand for Polyurethane (PU) microspheres.
The global Polyurethane microspheres market is projected to reach USD 74.4 Million by upcoming years with CAGR of 7.8%. The demand for polyurethane microspheres in Europe is likely to be driven by the growing demand for high-performance coatings and adhesives, as well as the increasing use of these microspheres in the medical device industry. However, the market growth may be hampered by factors such as environmental regulations and the availability of substitutes.
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Encapsulants application to dominate the global Polyurethane (PU) microspheres market
Polyurethane microspheres finds its largest application as an encapsulating agent for various end use industries which include pharmaceutical, paints & coating, and agro chemical industries. Advantages such as coating with uniform thickness without defects or thick edges drives the demand of polyurethane microspheres in the paints & coatings industry. Controlled release of chemicals of interest from encapsulants increases the effectiveness of delivery which drives the demand of polyurethane microspheres in the pharmaceutical and agrochemical industries.
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Europe is the most dominant region in the global Polyurethane (PU) microspheres market
The European region is the largest market for Polyurethane (PU) microspheres which accounted for the largest market share in 2014, followed by North America. The European region is a major consumer for wood coatings, architectural coatings, and plastic coatings for automotive underbody coatings, and hence commands the major share of the PU microspheres market by value. Europe being a global hub of premium automotive has a huge demand of Polyurethane (PU) microspheres making it the dominant market. Asia-Pacific is expected to be the fastest-growing market during the forecast period owing to the regions major consumption of tapes, labels, and packaging material and the adoption of polyurethane microspheres as substitutes for conventional emulsions
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Some of the key players operating in the global Polyurethane (PU) microspheres market include Microchem (Switzerland), Sanyo chemical industries Ltd. (Japan), Supercolori S.p.A. (Italy), Kolon Industry Inc. (Korea), Bayer Material Science LLC (Germany), Heyo Enterprise Co. Ltd. (Taiwan, Republic of China), and Chase Corporation (U.S.) among others. These companies, along with other regional companies, cater to the global demand for Polyurethane (PU) microspheres.
The global Polyurethane (PU) microspheres market size is estimated both in terms of value and volume, and is segmented on the basis of application and region. The scope of the report covers detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the Polyurethane (PU) microspheres market.
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