The report "Polyurethane (PU) Microspheres Market by Applications (Encapsulation, Coatings, Adhesives, and Cosmetics) - Global Trends & Forecasts to 2020", The global Polyurethane (PU) microspheres market is projected to reach USD 74.4 Million by 2020 from USD 47.6 Million in 2014, growing at a CAGR of 7.8% from 2015 to 2020. 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.
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The global Polyurethane (PU) microspheres market is projected to reach USD 74.4 Million by 2020 from USD 47.6 Million in 2014, growing at a CAGR of 7.8% from 2015 to 2020. The growing demand of plastic underbody and application in architectural coatings drives the demand for PU microspheres. Furthermore, the growing global demand for repositionable adhesives, technological developments in drug delivery, and crop protection via encapsulation is fueling the market growth for PU microspheres.
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The global Polyurethane (PU) microspheres market is expected to reach USD 74.4 Million by 2020 from USD 47.6 Million in 2014, growing at a CAGR of 7.8% from 2015 to 2020. The base year considered for the study is 2014 and the forecast period considered is from 2015 to 2020. This report provides a detailed analysis of the PU microspheres market based on application and region.
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.
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.
Asia-Pacific is projected to grow at the highest CAGR during the forecast period of 2015-2020. The regional market is primarily driven by the growth of major end-use industries such as construction, electronics, and automotive. China is the largest demand center in Asia-Pacific and accounts for over half of the total regional market volume. Various economic reforms in China over the last decade have helped the nation to emerge as the largest PU microspheres consuming country in the global market.