Global cenospheres market is projected to grow from around $ 663 million in 2019 to $ 940 million in 2025 owing to increasing demand from oil & gas, construction, and various end-use industries across the globe. Rapid urbanization, growth of technology & automation and advancements in material science technologies are some other factors contributing to growth of cenospheres market globally. Leading consumers of cenospheres include construction, plastics, aerospace, automotive and surface coating industries.
Cenospheres are alumina - silicate microspheres that are obtained as a by-product from coal power plants. These power plants produce fly ash that consists of alumina and silica which is converted into cenospheres through further processing. Cenospheres can be used as fillers in the replacement of minerals. It can also be used for manufacturing plastics and composite materials such as manufacturing of kayaks, surfboards, bowling balls, automotive components and floor tiles, fire bricks, and other industrial materials.
Additionally, increasing demand from developing economies for paint and polymer applications is anticipated to outdo other developed markets for cenospheres over the course of next five years. Moreover, rise in oil and gas production activities in Middle East countries and increase in exploration of shale gas in North America, is expected to fuel the demand for cenospheres until 2025.
However, there are certain factors which might hamper the growth of global cenospheres market. Governments in various regions are keen on promoting fly ash over cenospheres due to rising concerns over environmental pollution. This has resulted in limited extraction of cenospheres, making it difficult for manufacturers to produce cenospheres according to their requirements. Also, lack of awareness about the quality control process in various developing countries across the globe is causing hindrance to the growth of market.
Global cenospheres market is segmented under type, application, end use industry and region. Based on type, the market is segmented into grey cenospheres and white cenospheres. Grey type accounted for a market share of over 60% in 2019 owing to its frequent natural occurrence compared to white cenospheres and extensive usage in applications. Based on end user industry, cenospheres market is segmented into oil and gas, refractory, construction, paints and coatings, automotive and others. Out of these, oil and gas end use segment accounted for the largest share in 2019. The reasons behind growth of this segment are growing shale gas exploration and production activities in the North American region, and rising oil and gas production activities in the Middle East.
Major players operating in global cenospheres market include Qingdao Eastchem Inc., Suek AG, Enviropheres Pty Ltd, Ceno Technologies Incorporated, ScotAsh Limited, Omya International AG, Cenostar Corporation, Petra Buildcare Products, Cenospheres India Pvt. Ltd., Eko Exports SA and others. The companies are focusing on selling products through tender route to increase their reach and generate more revenues.
Years considered for this report:
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast the market size of global cenospheres market.
- To classify and forecast global cenospheres market based on type, application, end use industry, company and regional distribution.
- To identify drivers and challenges for global cenospheres market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global cenospheres market.
- To conduct pricing analysis for global cenospheres market.
- To identify and analyze the profile of leading players operating in global cenospheres market.
Key Target Audience:
- Cenospheres manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to cenospheres
- Market research and consulting firms
Market, By Type:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global cenospheres market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Grey Cenospheres
- White Cenospheres
- Insulating Materials
- Roofing Materials
- Refractory Materials
- Tire and Engine Parts
- Oil and Gas
- Paints and Coatings
- North America
- South America
- Middle East
Company Profiles: Detailed analysis of the major companies present in global cenospheres market.