Cenospheres Market to Reach $ 940 Million by 2025
Rising awareness about using cenospheres as filler materials
in replacement of minerals and increasing demand from emerging economies for
paint and polymer applications to drive cenospheres market through 2025
According
to TechSci Research report, “Global Cenospheres
Market By Type, By Application, By End Use Industry, By Region,
Competition, Forecast & Opportunities, 2025”, global cenospheres market is
projected to reach $ 940 million by 2025 due to increasing demand from end-use
industries like oil & gas, construction, paints & coatings and
refractory. Owing to their compatibility with phenolic resins, latex,
urethanes, plastisols, polyesters, thermoplastics, & epoxies, cenospheres
were initially used as extenders for plastic compounds. However, due to their
unique properties, cenospheres are now used as fillers in cements, polymers and
metals to produce composite materials, and anti-static coatings in paints. Moreover,
one of the major factors behind robust growth of global cenospheres market is increasing
adoption of coal-fired power generation across the globe as demand for
coal-fired power generation is majorly driven by the rising demand for power and
energy in various developing economies like India and China. In Asia-Pacific
region, China accounted for the largest share in the cenospheres market i.e.,
42.04% in 2019.
Browse 203 market data tables
and figures spread through 190 pages and an in-depth TOC on “Global Cenospheres
Market"
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However,
there are some factors which restrict the growth of cenospheres market. Limited
availability of raw materials, declining investments in coal industry and lack
of awareness about the quality control process in developing nations are
serving as major restraints for the growth of global cenospheres market. The global
cenospheres market is segmented based on type, application, end use industry, company
and region. Cenospheres are of two types i.e., grey cenospheres and white
cenospheres. The demand for both grey and white cenospehres is rising in oil
& gas exploration, construction, polymers fillers and ceramics casting
products. But among the two, grey cenosphere accounted for largest market share
of around 62% in 2019. Some of the major producers of grey and white
cenospheres are China, US and Brazil.
Based on application, the global market of cenospheres has been
segmented into insulating materials, roofing materials, refractory materials,
tire & engine parts and others. Among the application segment, insulting
materials accounted for largest share in cenospheres market in 2019. Rapid
urbanization, especially in Asia-Pacific region is leading to increased
construction activities which is ultimately boosting the demand for cenospheres
in building and construction sector in the region.
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. and Eko Exports SA are some of the leading players operating
in global cenospheres market. Fluctuations in crude oil prices and environment
and geo-political tensions among OPEC member countries has forced the major players
operating in oil & gas exploration and production to increase drilling
activities, optimize workflows, improve recovery rates and lessen the time to
produce first oil.
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“Presence of a large number of small and mid-sized
companies operating in global cenospheres market makes it a highly competitive
market. Most of the players are involved in sourcing cenospheres from thermal
power plants, especially from countries having maximum coal and lignite-based
power plants. Moreover, an increasing number of market players are focusing on
selling products through tender route to increase their reach and generate more
revenues. However, the market is facing economic slowdown in early 2020 due to
outbreak of novel coronavirus, especially in many Chinese provinces. This is expected
to negatively impact the demand for cenospheres at least in the first half of
2020.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Cenospheres Market By Type, By Application, By
End Use Industry, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global
cenospheres market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global cenospheres market.
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