Stratview Research on the Polyurethane (PU) microspheres Market provides a thorough analysis of the market that can help users to understand the competitive dynamics and different factors driving or restraining industry growth.
Market Insights
The polyurethane (PU) 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.
What are polyurethane (PU) microspheres?
Polyurethanes (PU) are one of the most multipurpose polymer materials worldwide. PU microspheres offer excellent mechanical properties, such as high adsorption, good blood compatibility, and stability. They are of great potential as adsorbents, drug carriers, coatings, and paints.
Polyurethane (PU) microspheres are used in different applications, such as encapsulation, coatings, adhesives, and cosmetics for various end-use industries.
Segment-wise 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.
Market Dynamics
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.
About Stratview Research
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