LONDON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Research?src=hash” target=”_blank”gt;#Researchlt;/agt;–The global cenospheres market is expected to post a CAGR of close to 6%
during the period 2019-2023, according to the latest market research
report by Technavio.
Cenospheres have applications in various industries including
construction, automotive, pharmaceuticals, and oil and gas. Cenospheres
are used as fillers in various automotive applications such as clutch
facings, tires, friction linings, dashboard, and brake linings. In the
oil and gas sector, they are used as filler lubricants in oil drilling
activities under high stress and heat conditions. In the pharmaceutical
industry, cenospheres, when coated with drugs, can be injected into a
patient’s bloodstream to treat an infected area and heal wounds faster.
Cenospheres also have painting and coating applications as they provide
additional qualities such as controlling of infrared radiations when
used in coatings. Therefore, the growth of these end-user industries
will propel the demand for cenospheres during the forecast period.
As per Technavio, the technological developments in the coating industry
will have a positive impact on the market and contribute to its growth
significantly over the forecast period. This global
cenospheres market 2019-2023 research report also
analyzes other important trends and market drivers that will affect
market growth over 2019-2023.
Global cenospheres market: Technological
developments in the coating industry
The coating industry has been witnessing significant technological
advancements in paints and coatings. These technological developments
have led to the emergence of coatings and paints with superior benefits
such as the killing of pathogens that harm the coated surfaces and
reducing of odor. The industry offers several types of coatings and
paintings such as microbicidal, antibacterial, and antimicrobial.
Vendors in the coating industry are also developing products with low
volatile organic compounds (VOCs) or no VOC formulations. Low-VOC
coatings with new resin technologies, including water-based acrylic
coatings, are widely being used globally. As cenospheres are used as
fillers in paints and coatings, the growth in the coatings and paints
market will increase the consumption of cenospheres.
“The rise in urbanization has resulted in the development of both
commercial and industrial (C&I) sectors which is driving various
industries such as construction, automotive and pharmaceutical. These
industries widely use cenospheres for several applications, leading to
market growth,” says a senior research analyst at Technavio.
Global cenospheres market: Segmentation analysis
This market research report segments the global cenospheres market by
type (gray cenospheres, and white cenospheres) and geographic regions
(APAC, EMEA, and the Americas).
The gray cenospheres segment held the largest cenospheres market share
in 2018. The growth of this segment is driven by the higher natural
occurrence of gray cenospheres as compared to white cenospheres. The
numerous applications of gray cenospheres will contribute to their high
demand in the market.
The APAC region led the market in 2018, followed by EMEA, and the
Americas respectively. The market growth in APAC can be attributed to
the increasing use of cenospheres for various applications in different
industries, and the high production and consumption of coal in the
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Five Forces Analysis
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