Zeolite Market is Anticipated to Witness Significant Growth Rate Till 2022 | Million Insights
07 Mar, 2018, 13:00 GMT
FELTON, California, March 7, 2018 /PRNewswire/ --
Global Zeolite Market accounted for USD 27.9 billion as of 2014. The market is anticipated to generate significant growth rate over the forecast period on account of rising detergents, consumer awareness for hygiene and increasing refining output. Other growth drivers which are also expected to propel the market growth include fortification of zeolites across pet litters, concrete industries, and agricultural usage.
Zeolites or Hydrated aluminosilicate are a type of minerals made from an interlinked bond of Silica (SiO4) and Alumina (AlO4).The chemical structure of these minerals can be describes as solids with relatively open three-dimensional structure built from a combination of elements such as oxygen, aluminum and silicon with an alkali base or alkaline-earth metals such as magnesium, sodium and potassium coupled with water molecules trapped in the gaps between these double bonds whereas the physical structure can be defined as crystalline in nature, having large pores or cavities evenly arranged.
According to US geographical survey, there are forty naturally occurring zeolites sourced from volcanic and sedimentary rocks. Mordenite, Chabazite, Clinoptilolite forms have the highest mining as well as there are approximately 150 synthetic zeolites. These minerals can resist any kind of temperature conditions owing to its high-temperature resistance, high melting points, high-pressure resistance, resistance to inorganic solvent and water dissolution, and resistance to oxidation. These unique physical and chemical properties of zeolite minerals have boosted high demand for the product globally which can be further analyzed with its global market estimation, market dynamics, and competitive landscape.
Browse 105 page research report with TOC on "Global Zeolite Market" at: https://www.millioninsights.com/industry-reports/zeolite-market
Macro-economic factors such as rapid increase in disposable income coupled with external factors such as environmental protection are also expected to fuel the zeolite industry in major regions such as MEA, Asia Pacific, and Latin America. Natural zeolite accounted for over 60% as well as dominated the global market owing to its non-toxicity reaction and low cost in 2014.
However, presence of natural reserves, increasing demand from water treatment and concrete solutions are identified to augment the market growth over the upcoming years. However, the synthetic zeolite is likely to grow at an estimated CAGR of over 2.5% of sales volume over the forecast period owing to increasing demand from laundry detergent industry as well as heavy usage of synthetic zeolites in oil and gas industry. Improved manufacturing process coupled with technological innovations, reduced production complexity is also expected to positively impact the industry despite catalysts substitution threats which can pose a restraint to the future market growth.
Zeolite has several end-use applications such as detergent builders, adsorbents, and catalysts. The detergent builder segment accounted approximately USD 19000 million of the global revenue, thereby capturing the market share in 2014. Increasing consumption of ion exchangers is further expected to boost the segment growth over the forecast period. Other physical properties identified which are expected to drive zeolite demand in the detergent segment include reduced fiber damage, higher chemical stability, low toxicity, and color protection of clothes.Zeolite usage as adsorbents is anticipated to grow at CAGR of over 1.5% over the forecast period owing to increasing demand from several end-uses such as water treatment, packaging, air-drying& separation, petroleum refining, and gas separation.
Regional analysis stated that in 2014, Europe accounted for nearly 1,600-kilo tons and dominated the global market owing to an abundance of natural zeolite reserves in Turkey and Russia, and several government initiatives and investments for bio-based chemical productions. Other highly demanding applications such as waste water purification and treatment and drying & purification of gasses are further expected to fuel the market growth from this region from 2014 to 2022.Asia Pacific is likely to capture a significant growth with an estimated CAGR of over 3.0% of global volume over the forecast period on account of rising investment in infrastructure emerging markets such as Indonesia, India, China, Malaysia and other South-Asian countries.
Some of the key players in the global zeolite market include Arkema Group, Tosoh Corporation, Interra Global Corporation, UOP LLC, Grace Catalysts Technologies, BASF SE, KNT Group, Zeox Corporation, Zeochem AG, and Tricat Group. Technological innovation and various strategies are highly adopted by these players to have a strong foothold of their global presence and expand their market specifically Europe and Asia Pacific owing to increasing demand of zeolite application from these regions.
Browse reports of similar category available with Million Insights:
Zeolite Product Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2022
• Natural
• Synthetic
Zeolite Application Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2022)
• Catalysts
• Adsorbents
• Detergent builders
• Other
Zeolite Regional Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2022)
• North America
• U.S.
• Europe
• Russia
• Turkey
• Asia Pacific
• China
• India
• Latin America
• Brazil
• MEA
• Qatar
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