Increasing demand for potable water for agriculture and housing to accommodate the ever growing population to drive growth
ROCKVILLE, MD / ACCESSWIRE / February 16, 2021 / The global zeolites market report published by Fact.MR projects a gradual recovery through 2021, owing to massive shutdowns experienced by key end use industries such as construction and hydrocarbon extraction amid the coronavirus pandemic. According to the report, the market expanded 1.3x during the pandemic crisis. Long-term prospects also appear modest, expanding at around 3% CAGR through 2031.
Prior to the pandemic crisis, the market experienced substantial gains, majorly underpinned by rising infrastructure projects. For instance, between 2015 and 2020, the Indian construction industry generated over 12% of the country's GDP. Furthermore, it is expected to reach US$ 738.5 billion by 2022, attributed to the increasing need to accommodate an exponentially rising population. Hence, manufacturers are introducing a slew of zeolite catalysts and additives to keep pace with the aggrandizing demand.
Gains are also expected in the water treatment and detergent segments respectively. As the global population expands, agricultural output is forecast to increase by 70% in the next few years. Hence, clean treated water availability needs are increasing amid extensive irrigation infrastructure deployment. Consequentially, treatment plants are investing in water purification grade zeolites, expanding its scope in forthcoming years.
"Extensive research activities have enhanced the multifunctionality of zeolites across multiple end-use industries. Therefore, prominent manufacturers are diversifying product offerings to incorporate zeolites suited for different grades, enhancing their revenue prospects," remarks the Fact.MR analyst.
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Key Takeaways from Fact.MR's Zeolites Market Study
- By type, synthetic zeolites to experience heightened applications, accounting for more than 3 out 5 sales
- Detergent grade zeolites to remain key revenue powerhouse, owing to their ability to impart water softness
- US to witness heightened adoption of zeolites amid surging petrochemical refining projects
- Rising applications in water treatment operations to heighten sales across the UK
- Germany and France to experience credible growth amid surging renewable energy infrastructure development such as solar cell panels
- India, China, Japan and South Korea to emerge as attractive investment destinations
Zeolites Market- Prominent Drivers
- High demand from the construction industry for improving mechanical strength and durability of cement & concrete composites to catapult demand
- Applications in pharmaceuticals is expected to rise, with rising zeolite incorporation in antiseptics
- Tightening environmental regulations by governments to encourage zeolite adoption across key industries as petrochemicals and sewage treatment
Zeolites Market- Key Restraints
- Availability of substitute chemical compounds such as enzymes are expected to hinder zeolites adoption
- Rising fuel costs in the wake of volatile hydrocarbon prices may render extraction of the same expensive, limiting zeolites uptake
Discover more about the zeolites market with 80 figures and 102 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/3817/zeolites-market
Competitive Landscape
Key players profiled by Fact.MR in its zeolites market report include BASF SE, Honeywell International Inc., Arkema SA, Tosoh Corporation, St. Cloud Mining, Blue Pacific Minerals Ltd., Rota Mining Corporation, PQ Group Holdings Inc., SACHEM Inc., National Aluminium Company Limited and Huiying Chemical Industry (Xiamen) Co. Ltd. These manufacturers are emphasizing on customized product offerings to garner a broad clientele base.
For instance, BASF SE offers copper chabazite zeolites for cleaning diesel engines. Tighter exhaust gas requirements for vehicles, including the US 2010 and EURO 6 exhaust gas standard has prompted automotive manufacturers to incorporate selective catalytic reduction (SCR) catalysts in diesel engines which primarily utilize the company's copper chabazite zeolite catalyst.
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Likewise, Tosoh Corporation offers zeolites for molecular sieves titled Zeolum® which is widely used for gas producing applications such as nitrogen separation, hydrogen purification, carbon dioxide and moisture removal, cryogenic purification, petrochemical production & refining and prevention of cloudiness in multilayered glass among others.
More Valuable Insights on Zeolite Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global zeolite market. The study delivers essential insights on the zeolite market on the basis of type (natural and synthetic) and end-use (building & construction, water treatment, animal nutrition, odor control & desiccant, detergents, agriculture and other end uses) across six major regions.
Key Questions Covered in Report
- What are the key factors driving the zeolites market growth?
- What are the different end use industries for zeolites?
- Which region is expected to have a major share in zeolites market?
- What will be the value of the zeolites market during the forecast period?
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