15-Nov-16 The global Polyurethane (PU) microspheres market is projected to reach US$74.4 mln by 2020 from US$47.6 mln in 2014, growing at a CAGR of 7.8% from 2015 to 2020, as per Markets and Markets. 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.
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. 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 region’s major consumption of tapes, labels, and packaging material and the adoption of polyurethane microspheres as substitutes for conventional emulsions.
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.
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