Zeolite
Molecular Sieve Market study is providing you with the up-to-date,
actionable market information and projections with the latest impact of the
Covid 19 outbreak. It offers all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
The global
Zeolite Molecular Sieve Market size is expected to value at USD 4.27 billion by
2022. The zeolite molecular sieve industry is subject to witness a substantial
growth due to the rising demand for production of detergent and catalysts.
Additionally, zeolite molecular sieve is increasingly utilized as an absorbent
due to of its sieve-like structure. Zeolite molecular sieve are crucial for
separation and adsorption in various manufacturing process for production of
detergents.
Zeolite
molecular sieve used as an absorbent, particularly in oil & gas sector and
for water treatment. Rising demand for detergents due to increase in hygiene
awareness among consumers is anticipated to boost demand for zeolite molecular
sieve as a builder in liquid and powder detergents. Globally, the zeolite
molecular sieve market is predicted to grow at CAGR of 2.3% in the forecast
period, providing numerous opportunities for market players to invest for
research and development in the market.
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Rapid
expansion of oil & gas industry, particularly in the North America &
South America region, and end-use demand for catalysts to provide higher yield
are estimated to aggravate market growth over the next seven years. In
addition, substantial increase in the number of water treatment activities for
wastewater treatment and purification of water are propelling market demand for
zeolite molecular sieve, in the recent years.
However,
availability of various alternatives such as enzymes, metals and other chemical
compounds and their relatively lower cost in comparison with zeolite molecular
sieve are expected to limit market demand to a certain extent. Additionally,
volatility in cost of raw materials is restraining market growth, in the last
few years. Yet, introduction of silver infused sieves as an antimicrobial is
expected to amplify market expansion in the near future.
Zeolites, which
are micro-porous in nature and contains alumino-silicate minerals are commonly
used as industrial adsorbents and catalysts. Zeolites are naturally found
compounds. However, zeolites are manufactured for industrial use on a large
scale. Industrially important zeolites are manufactured via various synthetic
technique. Industrial zeolites are produced by heating aqueous solutions of
alumina and silica with sodium hydroxide, while sodium aluminate and sodium
silicate acts as a catalyst. Industrial application of zeolites include
ion-exchange beds in residential and commercial water purification, softening,
and other applications. Primary use of zeolites is in production of detergents.
The zeolite
molecular sieve industry is broadly categorized into four major segments based
on the application type such as detergents, catalysts, wastewater management
and oil & gas industry. The detergents is considered as one of the fastest
growing segment in the zeolite molecular sieve market with substantial revenue
generation in the last few years. Growing popularity of zeolite molecular sieve
in the detergents segment is attributed to the extensive use as binders. The
oil & gas industry segment has also witnessed substantial growth owing to
the increasing demand for absorbents.
The zeolite
molecular sieve industry is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest techniques in
detergents manufacturing sector, increase in the number of research &
development activities in the region, expansion of oil & gas industry, and
existence of well-established industrial infrastructure.
Asia-Pacific
region is predicted to hold major market share in the zeolite molecular sieve
market with massive growth in forecast period. Countries such as India, China
and Singapore are leading the Asia-Pacific market with increasing adoption for
production of lightweight construction material, growing use in production of
asphalt concrete mix, and significant investment by leading industry players
considering potential growth opportunities in the region.
The key
players in the zeolite molecular sieve industry are Tosoh Co., Arkema, Inc.,
BASF SE, Honeywell UOP LLC, Grace Catalysts Technologies, Inc., Zeox Co.,
Chemiewerk Bad Köstritz GmbH, and Union Showa K K.
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