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, 2017 – 2024
Published Date: October 2017 | 220 Pages | Report ID: GMI2107 Report Format: PDF
Microencapsulation Market Size was estimated over USD 6 billion in 2016 and the industry will grow by a CAGR more than 8% up to 2024.
Europe Microencapsulation Market Size, by Application, 2013 – 2024 (USD Million)
Developing trend towards healthier lifestyle coupled with changing dietary preference of individuals are the key factors which will bolster the microencapsulation market growth in forecast spell owing to the numerous benefits offered by this technology. The technology prevents essential dietary supplements and nutrients in edible additives by enclosing them inside a shell, as they can directly affect the color and taste of the final product. Additionally, the process enables to change edible liquids into powder form and this enables them to provide smooth production, packaging and distribution of the product. With the global food additives industry hitting more than USD 30 billion and showing steady growth, market demand will witness a substantial development in coming years.
Increasing acceptance of specialty detergents & cleaning agents due to rising disposable income and changing consumer preferences in developed as well as developing countries will further boost the microencapsulation industry demand in future. The technology is used for fragrance microencapsulation, these specialty detergents leave a lingering scent on laundered clothes for above 2 weeks. Expansion in healthcare industry is responsible for the growth of specialty detergents and cleansers. High performance cleansers, anti-microbial agents are microencapsulated and further added to detergents and further find usage in hospitals, kitchens, etc.
Necessity of extensive research in order to select the suitable technology and core materials for the process is the key restraining factor for market growth throughout forecast period. Significant new material development and other experiments must be carried out before choosing the encapsulating material and technology which is required to enclose the core material. This continuous research and development activities incurred the excessive cost and eventually it increases the overall product price, thus hampering the industry growth by 2024.
Microencapsulation Market, By Technology
Based on technology, the market is segmented into chemical, physiochemical, electrostatic and mechanical. Among these technology, the mechanical technology segment dominates the market owing to its cost effectiveness. This method includes several techniques such as centrifugal process, air suspension, spray drying or spray congealing, and pan coating. Mechanical microencapsulation is extensively used in the end-user industries for production of microspheres and microcapsules.
Chemical technique is likely to grow at a substantial rate in coming years due to its wide application in cosmetics and pharma industries. This technology includes interfacial cross linking, polycondensation, etc. Interfacial cross-linking method is basically designed to avoid the usage of toxic diamine in end-use applications.
Microencapsulation Market, By Core Material
Microencapsulation market is categorized based on core material which include solid, liquid and gas. Among these materials, liquid core material accounted for significant share of the market in 2016 and is likely to grow at substantial rate in coming years. Liquid core materials include solvents, oils, insecticides, pigments, perfumes, solvents, dyes, fungicides etc., these particles are easily dissolved and dispersed materials.
Solid core material segment is likely to experience the healthy growth in forecast period in the global market. The solid particles are easily dispersed in a supporting air stream and they also acts as active constituents, diluents, accelerators, stabilizers and excipients. The materials include bases, biocides, pharmaceuticals, minerals and dextrins.
Microencapsulation Market, By Coating Material
The microencapsulation market is bifurcated on the bases of coating materials which include gelatin, polyvinyl alcohol, ethyl cellulose, cellulose acetate phthalate and others such as sodium alginate, styrene maleic anhydride, etc. Gelatin is a widely used coating material, which accounted for a significant share of the overall market in 2016 and will grow at a substantial rate over the forecast time frame. As the product is a water-soluble resin, it finds extensive usage in food, pharmaceutical, and cosmetics industry.
Ethyl cellulose is likely to grow at a significant rate in forecast spell. These materials are water insoluble resin and widely used in pharma industry in the form of flavoring fixative, filler, viscosity increasing agent, coating agent, and also employed as an emulsifier in food additive industry.
Microencapsulation Market, By Application
The microencapsulation market is segregated into four key application segments which include pharmaceuticals, food additives, agrochemicals, and house hold products. Other application segment includes fragrances, phase change materials, etc. Pharmaceuticals was the largest application segment of the market in 2016, accounting for over 65% of the total market share, followed by household products such as detergents, cleaners, etc., which constituted over a tenth of the total market share.
Pharmaceutical application segment generated revenue over USD 4 billion in 2016 and is likely to grow at a substantial rate in coming years. The process is popularly used in pharmaceuticals to improve the drug delivery, enhance its effectiveness, and also to mask the bitter drugs taste. The household products segment is likely to be the fastest growing application segment in future due to the growing acceptance of novelty detergents and cleaning agents in emerging economies.
Microencapsulation Market, By Region
Asia Pacific market was valued above USD 2 billion in 2016 and is likely to grow healthily in coming years. This can be ascribed to rising awareness regarding health & well-being among individuals coupled with increasing purchasing power and changing retail and dietary preferences. The factors mentioned above are likely to result in increased consumption of microencapsulated food additives and detergents during the forecast timespan.
North America and Europe, collectively accounted for more than 65% of the global market in 2016. The progressive and advanced healthcare industry in these regions has been responsible for a large-scale usage of the technology in the field of pharmaceuticals. Furthermore, widespread consumer acceptance of household products and functional food additives in these countries was reflected in the high geographic share of microencapsulation technology in North America and Europe in 2016.
Competitive Market Share
The giant players in microencapsulation market which holds the major chunk include BASF, Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer. Other prominent players in the market include Ronald T. Dodge Company, Balchem Corporation, Aveka, Inc, Capsulae, Reed Pacific, Microtek Laboratories, Taste Tech, Lipo, and GAT.
The market players compete through joint ventures, partnership, acquisitions, collaborations, new product & technology development and agreement & collaborations in order to ensures their position and growth in the industry. For an instance, in 2013, Encapsys announced entry into a strategic partnership with Troy Corporation to develop and supply a microencapsulated biocide to select marketplaces worldwide. This partnership is expected to widen the revenue stream of the company and enable to gain access to newer markets.
Microencapsulation is a technology which involves coating an active ingredient in a shell. This allows sustained release of the active ingredient. Microencapsulation is deployed to increase stability and product life being encapsulated. This technology helps in controlled release of the encased active ingredient, thereby offering sustained benefits of the active ingredient. The technology is broadly used by several end-user industries such as pharmaceuticals, food, agrochemicals, etc. Most of the industry players employed this technology to produce their final products such as drugs, detergents, fertilizers, etc.
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