Microencapsulation Market Size Worth USD 8.73 Billion By 2020: Grand View Research, Inc.

Global microencapsulation market is expected to reach USD 8.73 billion by 2020, according to a new study by Grand View Research, Inc. Rising importance of encapsulation technology in food & beverage, pharmaceutical, agriculture and detergent industries is expected to play a significant role in driving market growth. Growing demand for phase change materials (PCM) in HVAC and construction applications on account of providing better efficiency is expected to have a positive impact on microencapsulation market in the near future.To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/microencapsulation-marketPharmaceutical was the largest application, accounting for over 70% of market revenue share in 2013. Growing demand for microencapsulation for controlled release of active ingredients and targeted drug delivery is expected to have a positive impact on the market. Pharmaceutical growth in emerging economies of India, China and Brazil is expected to augment microencapsulation market over the forecast period. Emergence of nanotechnology and macrotechnology in pharmaceutical industry is expected to challenge market growth over the next six years.To request or view other reports of this category, click the link below:
http://www.grandviewresearch.com/industry/micro-molding-and-microspheresFurther key findings from the study suggest:
• Microencapsulation market demand in household products accounted for less than 10% of revenue share in 2013 and is expected to witness the fastest growth on account of gaining importance of encapsulation technology for storing sensitive ingredients in detergents. Growing demand for detergents in emerging markets of India and China due to rising awareness towards hygiene coupled with application growth is expected to have a positive impact on microencapsulation market in the near future.
• North America was the largest microencapsulation…