Overview:

The global zeolite market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Zeolites are naturally occurring minerals, but can be synthesized in laboratories as well. Naturally occurring zeolites are in the form of crystalline solids, which are made up of aluminum, oxygen, and silicon. Zeolites have properties such as high resistance to oxidization, high pressure resistance, high melting point, and are insoluble in water or other inorganic solvents.

Rising preference for zeolite as a replacement for sodium tripolyphosphates and as a refrigeration adsorbents due to its natural availability and non-poisonous and non-flammable nature are key factors expected to support growth of the global market over the forecast period.

Market Dynamics:

Growing use of zeolite as a catalyst in the refining and petrochemical industry is a key factor driving growth of the global zeolite market. The aluminosilicate form of synthetic zeolite act as a shape selective acid hence it is gaining demand in petrochemical industry. Also, growing expansion of petrochemical industry is resulting in high demand of zeolite across the globe.

In addition, rising number of refineries and growing focus on capacity expansion of currently operating refineries is expected to further drive growth of the target market over the forecast period. For instance, in December 2019, the central plant for AL-Zout refining in Kuwait was completed by Sinopec. The annual output of 3,150 tons of oil is anticipated in the refinery, thereby rising demand for the refinery catalyst.

Moreover, growing use of zeolites in various industrial applications is another major factor driving growth of the target market. Zeolites have high water adsorption capacity, separation properties, and controllable pore sizes, which enables selective adsorption or separation based on molecular size.

However, rising threat from cost effective substitute product is affecting growth of the target market to a certain extent. In addition, serious environment threat associated with zeolite is another factor challenging the global zeolite market growth.

Key Trends:

Rising focus on production capacity enhancement among key companies is a key trend witnessed in the global zeolite market. For instance, in September 2017, BASF SE has announced that, the company is going to build new specialty zeolites plant in Germany to double the overall zeolite production capacity.

Regional Analysis:

For detailed understanding of market dynamics, the global zeolite market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently Asia Pacific holds major market share in the global market and is expected to maintain its dominance over the forecast period. This is owing to growing construction activities and growing automotive industry in countries in the region. In addition, rising focus on water purification and waste water treatment are other factors supporting growth of the target market in the region.

However, the North America and Europe are expected to witness significant growth in terms of CAGR over the forecast period. Rising implementation of stringent government regulations related with waste water treatment and environment safety is a key factor driving the zeolite market growth in these regions.

Scope of the Report:

Detailed Segmentation:

Global Zeolite Market, By Product Type:

• Natural
• Synthetic

Global Zeolite Market, By Application:

• Detergents
• Absorbents
• Catalyst
• Other Applications

Key Players Covered:

Key players operating in the global zeolite market include, Tosoh Corporation, Arkema Group, BASF SE, Interra Global Corporation, UOP LLC, Zeochem AG, Honeywell International Inc., Chemiewerk Bad Köstritz GmbH (CWK), Bear River Zeolite Co, and KNT Group.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Zeolite Market by product type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global zeolite market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.