Global Spray Polyurethane Foam Market Perspective by Comprehensive Analysis, Growth Prediction to 2023

Microencapsulation market is segmented according to core materials such as solid, liquid, and gas. Solid core has a substantial market share owing to the easy dispersion in the supporting stream. These particles act as activators, accelerators, excipients, etc. The materials that form the solid core include bases, minerals, biocides, dextrin, pharmaceuticals, etc.

Microencapsulation Market will surpass USD 14 billion by 2024; according to a new research report. An increase in health awareness and change in dietary preferences will spur microencapsulation market over the forecast period.

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This is due to the increasing demand and benefits of microencapsulated drugs such as altering the taste of bitter drugs, providing covering to sterilized drugs, minimizing the odor of drugs, etc. In 2016, the pharmaceutical sector generated over 4.5 billion in revenues and is expected to grow at a substantial rate in the next seven years. Research and development in the field of pharma will also propel the market growth.

Microencapsulation technique is also used in cleaning agents and specialty detergents, which encapsulate fragrance and leave laundered clothes with a pleasing smell. Anti-microbial agents, cleanser agents, etc., are added to the detergents to enhance the quality of the detergent. Shifting preferences and rising disposable income in developing countries will further spur the microencapsulation industry.

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The major restraining factor of the microencapsulation market is the extensive research needed to choose the suitable core element and the technology to manufacture the microspheres. Certain experiments and product developments are carried out to find the best-suitable technology and core material, which require large capital investments in R&D activities, leading to an increase in the price of the product, which will impel the industry development.

The microencapsulation industry is segmented on the basis of coating as ethyl cellulose, polyvinyl alcohol, cellulose acetate phthalate, gelatin, and others (maleic anhydride, sodium alginate, etc.). Ethyl cellulose will have a large market share over the forecast period. It is an organo-soluble compound, which acts as an emulsifier in the food industry and has uses in the pharmaceutical industry as a filler, viscosity enhancer, flavoring fixative, etc.

Based on technology, microencapsulation market is segmented into mechanical technology, electrostatic technology, chemical technology, and physiochemical technology. The chemical technology is used in the pharmaceutical industry and cosmetic applications. Interfacial crosslink and polycondensation are some techniques used in chemical technology. Interfacial crosslinking technique is used to avoid reactions, which occur through toxic diamines

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The microencapsulation industry is segmented based on application as food additives, pharmaceuticals, household products, agrochemicals, and others including pleasant odor, phase change substance, etc. Pharmaceuticals segment accounts for over two-third of the industry share and will have an upward trend in upcoming years due to the increased use in drug delivery systems.

In 2016, North America occupied over one-third of the overall microencapsulation market and will gain at a healthy rate in the upcoming years. The increased growth rate in the food industry and pharmaceutical manufacturing promote the use of microencapsulated products in the region.
The key players in microencapsulation industry include Dodge Company Dow corporation, BASF, 3M company, Bayer, Evonik, Syngenta., Encapsys, etc.

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