Microencapsulation Market Size By Technology (Chemical, Physiochemical, Electrostatic, Mechanical), By Core Material (Solid, Liquid, Gas), By Coating Material (Gelatin, Polyvinyl Alcohol, Ethyl Cellulose, Cellulose Acetate Phthalate), By Application (Pharmaceutical, Food Additives, Agrochemicals, Household Products), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024
Microencapsulation Market will likely surpass USD 14 billion by 2024; according to a new research report.
Global microencapsulation market is largely driven by the growing demand from the pharmaceutical, functional food, and agrochemical sectors for controlled release of the active compounds. Rising need of multicomponent delivery systems, reducing capsule size, and growing bioavailability of drugs will provide substantial opportunities in the regions with rich healthcare industry such as the U.S. and Western Europe, which is expected to positively swell the microencapsulation market during the forecast period.
Excellent properties associated with microencapsulating technology such as preventing quick release of edible dietary substitutes and several nutrient additives, by enclosing them inside a covering, is projected to have an optimistic impact on the growth of microencapsulation industry. Additionally, extensive use of this technology in home care, personal care and fragrance industries is fueling the growth of microencapsulation market share. Rapidly rising demand for high performance cleansers from the household & personal care industry is expected to surge the global microencapsulation industry share in the projected timeframe.
Ongoing research and rising demand for substitute technologies such as nanoencapsulation technology and high processing cost of microencapsulation technology are expected to become an obstacle in the growth of the microencapsulation market over the forecast timespan. High costs and technical knowhow associated with the market may hinder the potential growth over the coming years.
Microencapsulation market has been segmented into core materials, coating materials, technology and application. Solid core material held a substantial portion of the market of over 20% due to its property to easily disperse in a supporting air stream and also act as diluents, active constituents, stabilizers, accelerators and excipients.
According to coating material, gelatin is expected to grow at a significant rate of over 10% during the forecast years. It is a broadly used coating material, which is likely to create at a substantial share in the market since the product is water soluble resin and widely used in food, pharmaceutical and cosmetics industry.
The technology segment is led by the mechanical technique that will record a share of over 60% of the global market in 2024 due its low cost. The procedure is widely used in several end-user industries for the production of microcapsules and microspheres.
The applications include pharmaceuticals, food additives, house hold products and agrochemicals. Pharmaceuticals sector will hold sway the application segments accounting for over two -third of the total market in 2024.
Europe will be the second largest regional market in 2024 after North America. The regional market is rapidly advancing in terms of availability of coating technologies, raw materials and applications. Developed economies such as UK, Germany, France, and Italy are at the forefront of the regional market due to the heavy penetration of the technology in the pharmaceutical industry.
The primary companies in the microencapsulation market involve Dow, 3M, Bayer, BASF, Syngenta and Encapsys which hold a major portion of the total company market.
Microencapsulation market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Microencapsulation Market by Core material
Microencapsulation Market by Coating material
Cellulose acetate phthalate
Microencapsulation Market by Technology
Microencapsulation Market by Application
The above information is provided on a regional and country basis for the following:
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