Zeolite Market Size Worth $21.7 Billion by 2030 with CAGR of 6.2% - Grand View Research, Inc.

SAN FRANCISCO, March 7, 2022 /PRNewswire/ -- The global zeolite market size is expected to reach USD 21.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2022 to 2030. The market is expected to be driven by rising capacity expansions in petrochemicals production coupled with investments in water treatment projects and detergent manufacturing. Zeolites are three-dimensional hydrated aluminosilicate minerals with a tetrahedra framework each consisting of four oxygen atoms surrounded by a silicon or aluminium cation.

Key Insights & Findings from the report:

• Factors such as the emergence of coronavirus, currency fluctuations, and unavailability of the workforce have impacted the demand for zeolites. For instance, Albemarle Corporation faced USD 255.4 million lower sales volume in its Catalysts business segment in 2020 from 2019, owing to lower fuel demand due to stay at home orders and travel restrictions worldwide, because of the pandemic.
• The threat of substitutes for synthetic zeolite is predicted to remain low since its usage as a catalyst and adsorbent is likely to increase with expansion in the production volumes of chemicals, petrochemicals, and natural gas.
• Natural zeolite is likely to face a high threat of substitution from other industrial minerals including diatomite, fuller's earth, bentonite, gypsum, and silica sand in different applications.
• In terms of revenue, the catalysts segment is expected to register a CAGR of 6.7% over the forecast period. Zeolites are widely used as catalysts in various industries including chemical, petrochemical, metal, and mining.

Read 114-page market research report, "Zeolite Market Size, Share & Trends Analysis Report By Application (Catalyst, Adsorbent, Detergent Builder), By Product (Natural, Synthetic), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Zeolite Market Growth & Trends

Based on product, the market is segmented into natural and synthetic. The former is hydrothermal and mostly belongs to volcanic origin. The latter is synthesized in laboratories in different types such as Zeolite A, Type X, Type Y, and others. In terms of revenue, synthetic zeolite dominates the market owing to its increasing demand from chemicals and detergent applications coupled with its high price. In terms of volume, natural zeolite dominates the market. However, the segment growth is anticipated to be low owing to numerous substitutes in the market.

Synthetic zeolites are extensively used as detergent builders to extract water hardness ions and soften the water medium for cleaning and laundry purpose. Rising hygiene concerns, especially after the COVID-19 outbreak, have propelled the production of detergents, and thus, positively influenced the zeolite demand. For instance, the laundry and care business of Henkel observed a growth of over 5% in sales in 2020 owing to a rise in the demand for cleaning products globally.

Based on region, Asia Pacific held the largest revenue share of the global market in 2021. The presence of countries like China and India and rapid investments in manufacturing activities in these countries are propelling the market growth. The countries are facing high production of animal feed, chemicals, and detergents, which is benefitting zeolite demand in the region. For instance, the Zhejiang Petrochemical Daishan Xylene Plant 2 is an upcoming petrochemical project in China with a capacity of 4.8 million tons per annum. In addition, around 500 other projects are anticipated to become operational in the petrochemical industry in China between 2021 and 2025.

The zeolite market is highly competitive in nature. New mediums of low-cost production are projected to open new avenues for market development over the forecast period. For instance, in May 2020, the University of Queensland filed a patent for a newly developed mineral processing technology, which is likely to reduce the cost of zeolite production significantly.

Zeolite Market Segmentation

Grand View Research has segmented the global zeolite market on the basis of product, application, and region:

Zeolite Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

• Natural
• Synthetic

Zeolite Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

• Catalysts
• Adsorbents
• Detergent Builders
• Cement
• Animal Feed
• Others

Zeolite Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• Italy
• Spain
• Turkey
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa
• GCC

List of Key Players of Zeolite Market

• Albemarle Corporation
• BASF
• Clariant
• KMI Zeolite
• Zeolite
• Zeolyst International

Check out more related studies published by Grand View Research:

• Natural Zeolites Market - The global natural zeolites market size is expected to reach USD 8.01 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 2.7% over the forecast period. Increasing investments in development of new infrastructure in the global construction industry are expected to propel the product demand.
• Composites Market - The global composites market size is expected to reach USD 144.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2021 to 2028. Increasing demand for lightweight materials in various industries such as automotive and transportation, along with the increasing government investment in green transportation is augmenting growth of the market.
• Lithium Market - The global lithium market size is expected to reach USD 8.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.8% from 2021 to 2028. Rising investments in lithium mining and related technologies are projected to remain a key trend for the market.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com 
Grand View Compass | Grand View Pipeline 
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

SOURCE Grand View Research, Inc.