The global cenospheres market was valued at USD 346.8 Million in 2016 and is projected to reach USD 689.2 Million by 2022, at a CAGR of 12.16% from 2017 to 2022.
Major players operating in the global cenospheres market are Petra India Group (India), Cenosphere India Pvt. Ltd. (India), Durgesh Merchandise Pvt. Ltd. (India), Omya AG (Switzerland), Qingdao Eastchem Inc. (China), Envirospheres (Australia), Scotash Limited (U.K.), PR Ecoenergy Pvt. Ltd. (India), Ceno Technologies (U.S.), and Reslab Microfiller (Australia). Other regional manufacturers of cenospheres include Vipra Ferro Alloys Pvt. Ltd. (India), Shanghai Green Sub-Nanoseale Material Co. Ltd (China), Cenospheres Trade & Engineering S.A. (Poland), Prakash Mica Exports Pvt. Ltd. (India), Delamin Limited (U.K.), ETS Inc. (U.S.), and Excellex Solutions (India).
The major players in the market adopted expansions as a key strategy to increase their market shares and cater to the demand of increasing customer base across the globe. Cenosphere India Pvt. Ltd (India) is one of the leading manufacturers of cenosphere. The company has been focusing on expansions to maintain its leading position in the market. For instance, in November 2011, the company established a processing unit of cenospheres in Nagpur, India. This expansion helped the company to increase its production as well as optimize the cost of production.
Petra India Products (India) is another major player in the cenospheres market. The company is focusing on expansions as a part of its strategic developments. In 2014, Petra India Products announced that the company planned to expand its cenosphere business by constructing a new plant. This expansion was expected to increase the company’s total cenospheres production capacity to 6,000 metric tons.
In August 2014, PR Ecoenergy Ltd. the expansion of its cenosphere processing capacity from 700 metric tons to 2,000 metric tons. This strategy helped the company to cater to the rising demand of cenospheres in the Asia-Pacific region. Companies in the cenospheres market are also focusing on research & development activities to provide better, customized, and application-specific products to their end users.
Cenospheres Market by Type (Gray Cenosphere, White Cenosphere), End-use Industry (Refractory, Construction, Oil & Gas, Automotive, Paints & Coatings), and Region - Global Forecasts to 2022
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