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Cenospheres Market - Forecast (2022 - 2027)

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  • 115 Pages
  • April 2022
  • Region: Global
  • IndustryARC
  • ID: 5616212
The Global cenospheres market size was valued at $621.1 million in 2019 after growing at a CAGR of 11.5% over the forecast period of 2022-2027 primarily due to the rise in demand from oil & gas, construction, and various end-use industries globally. Cenospheres are hollow, inert, and lightweight ceramic spheres made up of alumina and silica, obtained as a by-product of coal combustion in thermal power plants. Cenospheres are hard and rigid in nature making them suitable for diverse applications ranging from refractory, building and construction to automotive, and oil and gas. Rapid urbanization, growth of technology & automation and advancements in material science technologies are some other factors fueling the growth of the cenospheres market.

Report Coverage

The report: “Global Cenospheres Market - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the global cenospheres industry.
  • By Type: Grey Cenospheres and White Cenospheres
  • By Application: Insulating Materials, Roofing Materials, Refractory Materials, Tire and Engine Parts, Industrial Coatings, Automotive Parts, Pace Crafts and Others
  • By End Use Industry: Building and Construction (Mortars, Grouts, Stucco, Cements, Acoustical Panels, Roofing Materials, Shotcrete, Others) Oil & Gas (Oil Well Cements, Drilling Muds, Others), Automotive (Coatings & Composites, Acoustic Insulation and Others)Refractory, Paints & Coatings and Others
  • By Geography: North America, South America, Europe, Asia Pacific and Rest of World.

Key Takeaways

  • The global cenospheres market is expected to grow in the future primarily due to rapid urbanization, growth of technology & automation and advancements in material science technologies.
  • Grey cenospheres market accounted for the majority of the market share as compared to the white cenospheres segment.
  • By the end user segment, the building and construction segment dominated the Cenospheres market in 2019.
  • The North American market accounted for the largest market share in 2019 primarily due to the upsurge in oil and gas activities.
  • Strict global shutdown due to the Covid-19 pandemic caused huge disruption in the whole production and supply chain of the global cenospheres market industry. The industry is witnessing a decline in the demand from major end-use industries such as Building & Construction and Automobiles among others.

Global Cenospheres Market Segment Analysis - By Type

The Grey cenospheres market accounted for the majority of revenue share in 2019 primarily due to its frequent natural occurrence as compared to white cenospheres. Grey cenospheres have a lower alumina, higher silicon and iron content as compared to white cenospheres and they are used in applications, wherein resistance to higher temperature and color are less important. It is used in various applications, such as concretes, plastics, resins, coatings, bricks, and rubbers.

Global Cenospheres Market Segment Analysis - By End User Industry

Building and construction segment dominated the cenospheres market in 2019. Cenospheres are used in the construction sector, and are required as a raw material for light-weight building blocks and concrete. They are also required in the paints and coatings industry in order to control infrared radiation. The demand for cenospheres is expected to witness rapid growth in demand from the building and construction sector. This is majorly owing to the rapidly increasing construction and repair activities in developing economies, such as China, India, etc. The industry has witnessed a significant increase in the expansion of newly constructed projects in China. The demand for cenospheres is estimated to increase from the building and construction sector during the forecast period, 2022-2027.

Global Cenospheres Market Segment Analysis - Geography

The North American region accounted for the largest market share in 2019 primarily due to the upsurge in oil and gas activities post the shale gas boom in the region. Increasing R&D investments in better production of cenospheres from fly ash lagoons are driving the market demand in the U.S. region. Additionally, the consumption of cenospheres across multiple industries including oil cement, drilling muds, and as acid grouting compounds is fueling the market revenue. The Asia-Pacific market is estimated to register the highest CAGR during the forecast period, 2022-2027. This growth can be mainly attributed to an increase in the automotive and construction industry in the region. Cenospheres are widely consumed in construction aggregates and automotive light-weighting parts across emerging economies such as India and China among others.

Global Cenospheres Market Drivers

Rise in demand from various industries due to the structural and other properties

Cenospheres are lightweight fillers that are mostly used across multiple industries as it provides significant cost benefits. These minerals possess excellent structural advantages, such as reduced weight, low density, electrical characteristics, high melting temperature, and high fluidity, making cenospheres viable for use in a variety of end-use industries such as construction, oil & gas, paints & coatings, and refractory. Cenospheres are used in these industries due to their unique properties including high compression, low specific gravity, good thermal and acoustical insulation properties, and inertness to acids and alkalis. Cenospheres are 75% lighter than other minerals such as clay and talc & calcium carbonate used as fillers and 30% lighter than most resins.

Increasing demand from developing economies for paint and polymer applications

The growing construction industry output is expected to be one of the most significant factors for the rising demand of cenospheres in the global market. Rapid urbanization is leading to new construction activities, which is further expected to boost the demand of cenospheres in the building and construction industry. The global construction market to grow multifold by 2025 and the growth is estimated to be driven by China, U.S. and India market. The building construction industry in China is expected to record a CAGR of 7.5% to reach $1,374.1 billion by 2024. Rising household income levels along with population migration from rural to urban areas are some of the factors driving the building & construction sector in the country. This trend is estimated to positively impact the global cenospheres market during the forecast period, 2022-2027.

Global Cenospheres Market Challenges

Limited source of raw material

Cenospheres are extracted from the fly ash generated as a by-product of coal combustion at thermal power plants. Earlier, fly ash was released directly into the atmosphere, however, due to pollution concerns, fly ash is now required to be captured before its release. This requirement has resulted in limited sources to extract cenospheres thus, making it difficult for manufacturers to produce cenospheres according to their requirement. Therefore, the end users are finding new alternatives such as perlite as a substitute for cenospheres. The limited supply of fly ash is estimated to negatively impact the growth of the global cenospheres market.

Market Landscape

Focus on R&D initiatives and strategic partnerships are a few trends followed by the major industry players. The Cenospheres market is fragmented in nature, some of the major players are Reslab Microfiller, Qingdao Eastchem Inc., Enviropheres Pty Ltd., Ceno Technologies Incorporated, Scotash Limited, Durgesh Merchandise Pvt. Ltd., Omya International AG, Petra Buildcare Products, CenoStar, and Microspheres SA among others.

Acquisitions/Technology Launches

In September 2019, CenoStar partnered with XG Sciences to manufacture advanced materials containing graphene nanoplatelets used in the production of cement.

In October 2018, Omya International acquired an industrial site in Egerkingen from Spirig Pharma. Post this move, the company moved its research and development activities to Egerkingen.

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Table of Contents

1. Global Cenospheres Market - Market Overview
1.1 Definitions and Scope
2. Global Cenospheres Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by Type
2.3 Key Trends by Application
2.4 Key Trends by End Use Industry
2.5 Key Trends by Geography
3. Global Cenospheres Market - Landscape
3.1 Comparative analysis
3.1.1 Market Share Analysis - Top Companies
3.1.2 Product Benchmarking - Top Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis - Top Companies
3.1.5 Pricing Analysis
4. Global Cenospheres Market - Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Market Opportunities
4.4 Porters five force model
4.4.1 Bargaining power of suppliers
4.4.2 Bargaining powers of customers
4.4.3 Threat of new entrants
4.4.4 Rivalry among existing players
4.4.5 Threat of substitutes
5. Global Cenospheres Market - Strategic analysis
5.1 Value chain analysis
5.2 Opportunities analysis
5.3 Market life cycle
5.4 Suppliers and distributors
6. Global Cenospheres Market - By Type (Market Size - $Million)
6.1 Grey Cenospheres
6.2 White Cenospheres
7. Global Cenospheres Market - By Application (Market Size - $Million)
7.1 Insulating Materials
7.2 Roofing Materials
7.3 Refractory Materials
7.4 Tire and Engine Parts
7.5 Industrial Coatings
7.6 Automotive Parts
7.7 Pace Craft
7.8 Others
8. Global Cenospheres Market - By End Use Industry (Market Size - $Million)
8.1 Building and Construction
8.1.1 Mortars
8.1.2 Grouts
8.1.3 Stucco
8.1.4 Specialty Cements
8.1.5 Acoustical Panels
8.1.6 Roofing Materials
8.1.7 Coatings
8.1.8 Shotcrete
8.1.9 Industrial Coatings
8.1.10 Others
8.2 Oil & Gas
8.2.1 Oil Well Cements
8.2.2 Drilling Muds
8.2.3 Others
8.3 Automotive
8.3.1 Automotive Coatings & Composites
8.3.2 Acoustic Insulation
8.3.3 Others
8.4 Refractory
8.5 Paints & Coatings
8.6 Others
9. Global Cenospheres Market - By Geography (Market Size - $Million)
9.1 North America
9.1.1 U.S.
9.1.2 Canada
9.1.3 Mexico
9.2 South America
9.2.1 Brazil
9.2.2 Argentina
9.2.3 Colombia
9.2.4 Chile
9.2.5 Rest of South America
9.3 Europe
9.3.1 U.K
9.3.2 Germany
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Netherlands
9.3.7 Russia
9.3.8 Belgium
9.3.9 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 ANZ
9.4.4 Japan
9.4.5 South Korea
9.4.6 Rest of Asia Pacific
9.5 ROW
9.5.1 Middle East Saudi Arabia UAE Rest of Middle East
9.5.2 Africa South Africa Nigeria Rest of South Africa
10. Global Cenospheres Market - Entropy
10.1 New Product Launches
10.2 M&A’s, Collaborations, JVs and Partnerships
11. Global Cenospheres Market - Company Analysis, Market Share, Company Revenue, Products, M&A, Developments
11.1 Reslab Microfiller
11.2 Qingdao Eastchem Inc.
11.3 Enviropheres Pty Ltd.
11.4 Ceno Technologies Incorporated
11.5 Scotash Limited
11.6 Durgesh Merchandise Pvt. Ltd.
11.7 Omya International AG
11.8 Petra Buildcare Products
11.9 CenoStar
11.10 Microspheres SA