Market Research Future (MRFR) has published on the “Global Zeolites market” .
MRFR recognizes the following companies as the key players in the global Zeolites market— BASF SE (Germany), Clariant (Switzerland), Tosoh Corporation (Japan), W. R. Grace & Co. (US), Union Showa K.K. (Japan), Albemarle Corporation (US), Zeochem AG (Switzerland), National Aluminum Company Limited (NALCO) (India), PQ Corporation (US), Huiying Chemical Industry (Xiamen) Co., Ltd (China).
Zeolites Market Highlights
The global Zeolites market is accounted for to register a CAGR of 4.85% during the forecast period and is estimated to reach USD 2,946.76 million by 2033.
The Zeolites industry is predicted to benefit from its rising usage in air separation processes where it is used for adsorption and purification of gases. In oxygen concentrators, zeolites are used for separating oxygen from the ambient air and further delivering this oxygen to individuals requiring supplemental oxygen. Here, zeolites functions as molecular sieves, absorbing the nitrogen from air and thus allowing oxygen to pass through. Such applications of zeolites will significantly contribute towards enhancing its market size.
Furthermore, the increasing demand for zeolites due to its growing applications in the detergent industry is anticipated to support its market growth. Also, strict regulations on the use of phosphate in detergents are projected to boost the demand for zeolites during the forecast period. The rising demand for zeolites in various applications is expected to create opportunities for the global zeolites market in the coming years.
Segment Analysis
The global Zeolites market has been segmented based on Product, Application and Region.
The global Zeolites Market segmentation, based on Product has been segmented as natural and synthetic. Among these, the synthetic product is anticipated to dominate the global Zeolites market revenue through the projected period as estimated by MRFR analysts.
Synthetic zeolites are widely used in detergents and household cleaners, where they are used as water softeners and ion exchange agents, further enhancing the cleaning efficiency by removing magnesium and calcium ions that are responsible for water hardness. In detergents, synthetic zeolites also improve the performance of surfactants along with preventing the redeposition of dirt on the fabrics.
In Application segment, the market is categorized as Detergents, Air Separation and Others. Out of which the detergent segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. Zeolites application in detergents can be attributed to its ion exchange and water softening properties. Removing the hardness of water is very important as hard water interferes with the cleaning process by impacting the effectiveness of the surfactants. Thus, the use of zeolites as water softeners is very crucial in detergents owing to which its demand from the detergent sector is increasing and is anticipated to escalate in the coming years.
Regional Analysis
By Region, the zeolite market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia Pacific Zeolites market holds the considerable market share and is also forecasted to hold the largest share during the forecast period. This region's market is growing significantly owing to rapid development and population growth which have resulted in altered lifestyles. Rapidly growing industrial and manufacturing sectors such as chemicals, refining, petrochemicals, construction, electronics and automotive in the region will create growth opportunities for zeolites market owing to its usage as catalysts, molecular sieves, and adsorbents.
The problem of water scarcity and water pollution is very prevalent in the Asia Pacific region, due to which the demand for zeolites is growing in this region as zeolites are found effective in water treatment applications such as water purification, wastewater treatment and desalination. The growing demand for zeolites in water treatment process is driven by the increasing need for addressing environmental concerns and ensuring access to clean water. The rapid urbanization and rising disposable income of the consumers in the Asia Pacific region have led to the boost in the demand for highly effective detergents, and soaps and this factor will positively impact the market size of zeolites.
Furthermore, Specialty zeolites are employed as lightweight concrete components to improve concrete performance. Due to its many benefits, such as enhanced sound absorption, less thermal expansion, and improved fire resistance, lightweight concrete is chosen for construction projects. Therefore, it is predicted that growing the building and construction industry in the region will raise demand for specialized zeolites.
Key Findings of the Study
- The global Zeolites market is expected to reach USD 2,946.76 million by 2033, at a CAGR of 4.85% during the forecast period.
- The Asia Pacific region accounted for the fastest-growing global market.
- Based on Product, the synthetic segment was attributed to holding the largest market in 2022.
- Based on application, the detergent segment was attributed to holding the largest market in 2022.
- BASF SE (Germany), Clariant (Switzerland), Tosoh Corporation (Japan), W. R. Grace & Co. (US), Union Showa K.K. (Japan), Albemarle Corporation (US), Zeochem AG (Switzerland), National Aluminum Company Limited (NALCO) (India), PQ Corporation (US), Huiying Chemical Industry (Xiamen) Co., Ltd (China) are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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