North America Cenosphere Market Estimated to Reach $224.8 million by 2019, at a CAGR of 16.7%
PUNE, India, December 4, 2015 /PRNewswire/ --
According to a Market Research Report "North America Cenosphere Market, By Geography (U.S., Canada, Rest of North America); By Application (Paints & Coatings, Automotive, Oil & Gas, Construction, Refractory, Others) - Forecasts till 2019", the North America Cenosphere Market was valued at $103.6 million in 2014, which is projected to reach $224.8 million by 2019 growing at a CAGR of 16.7%.
Browse through the TOC of North America Cenosphere Market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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Cenosphere is a lightweight, inert, hollow sphere made largely of silica and alumina and filled with air or inert gas. Cenosphere is typically produced as a byproduct of coal combustion at thermal power plants. Due to its lower value of thermal conductivity, higher particle strength, ultra-low density, impermeability, it is used in various industries. Cenosphere is used in refractory tiles, fire bricks, insulating materials, coatings, alumina cement, injection moldings, film, nylon, HDP, LDP, PP, PVC flooring composites, underwater coatings, body fillers, specialty cements, roofing materials, and so on.
In 2014, the U.S. held the largest market share of 74.0% and is projected to grow at a CAGR of 17% during the forecast period. Canada is the second-largest market in terms of value, with a market share of 18.4% in 2014. It is projected to grow at a CAGR of 16.1% during the forecast period. Among the applications, the oil & gas segment was the largest consumer with 33.3% share in 2014. Construction segment was the second-largest consumer with 23.2% share. With increasing oil & gas exploration activities in North America, the cenosphere market is also expected to grow in coming years.
Superior structural properties, low price compared to alternatives, and rising demand from current applications are some of the drivers for the cenosphere market. On the other hand, limited sources of raw materials and poor packaging quality are some of the restraints for this market.
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Acquisitions, agreements, and joint ventures are the key development strategies adopted by the key market players. Manufacturing companies, associations, and end-product manufacturers are investing extensively for future advancements and technology modifications of cenosphere to match the new demands coming from various end-user industries.
Key Players of the North America Cenosphere Market include:
Cenosphere India Private Limited (India), Petra Buildcare Products (India), Durgesh Merchandise Pvt. Ltd (India), Vipra Cenospheres (India), CenoStar Corporation (U.S.), Ceno Technologies (U.S.), Shijiazhuang Banyue Imp & Exp Trade Co., Ltd (China), and so on.
The North America cenosphere market, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, expansions, agreements, and joint ventures of the leading cenosphere companies in this market.
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