Axiom Market Research & Consulting™ added a report on global microencapsulation market. The global Axiom Market Research & Consulting™ (also known as Axiom MRC), is a full-service market research and data analytics firm, driven by a simple aim of providing key market intelligence to companies to assist them in taking informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc. was valued at USD 6.2 billion in 2017, growing at a CAGR of 8.48% for the forecast period 2019 to 2024. The global market is estimated and forecasted in terms of revenue (USD million) generated by the microencapsulation market.
The global microencapsulation market is segmented based on application, shell material and geography. Based on application, the global microencapsulation market is segmented into pharmaceuticals, household products, agrochemicals and food & feed additives and others (include PCM, lubricants and other specialty & commodity chemicals etc.).
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Furthermore, the market is studied for shell materials such as polymers, gums & resins, lipids, carbohydrates and proteins. The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the world. In 2017, North America accounted for the largest market share of microencapsulation, dominated by the U.S. However, Latin America and Asia Pacific are the fastest growing region for microencapsulation markets.
The global microencapsulation market is driven by factors such as increasing requirement of enhanced product functionality, emergence of new technologies and high requirement of microencapsulation in the pharmaceutical industry.
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This technique is preferred by the manufacturers of pharmaceuticals, household utility products, agrochemicals and human & animal feed additives to protect from moisture, acids, temperature and add value properties such as, controlled release, slow release, targeted release, uniform suspension etc. to their products. Widely used industrial microencapsulation methods are hot melt process where a fluid bed technology is used in which atomizing air breaks molten solid into droplets which spreads overs substrate surface. Aqueous coating microencapsulation process uses matrix materials such as HPMC and Gums
The leading players of the global microencapsulation market are 3M Company, Aveka, BASF, Balchem Corp, Capsulae, Celessence, Dow Corning Corp, Evonik Industries AG, Firmenich Inc, Frieslandcampina Kievit, IFP Inc, Ingeniatrcs, Lipo Technologies, Lycored Group, Microtek Laboratories, Reed Pacific, Ronald T Dodge Co, Sensient Technologies Corp and Symrise AG among others.