The polyurethane microspheres market was estimated at USD 66.63 million in 2022 and is likely to grow at a CAGR of 8.07% during 2023-2028 to reach USD 106.46 million in 2028.
The prime factors that are contributing to the growth of the market for polyurethane (PU) microspheres are-
- The mounting demand for plastic underbody and application in architectural coatings.
- Increasing demand for repositionable adhesives.
- Technological developments in drug delivery.
- Crop protection.
Major key players covered in this report:
This section of the Polyurethane Microspheres Market report explains the expansion plans, M&A, investment analysis, funding, revenues in manufacturers, etc. of the leading players. Here is a list of major key players of the industry.
- MicrochemSanyo chemical industries Ltd.
- Supercolori S.p.A.
- Kolon Industry Inc.
- Bayer Material Science LLC
- Heyo Enterprise Co. Ltd.
- Chase Corporation.
Polyurethane Microspheres Market Segment Analysis
Based on the application type, the market is segmented as encapsulation, paints & coatings, adhesives, cosmetics, and other applications. The encapsulation segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. Higher consumption of PU microspheres for encapsulation application in various end-use industries, such as pharmaceutical, paints & coatings, and agrochemical industries is driving the growth of this segment.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for polyurethane microspheres during the forecast period, with China being the major country with lucrative growth opportunities. The growth of the region’s market is driven by the growth of various end-use industries, such as construction, electronics, and automotive. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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