Global Synthetic Zeolite Market – Share to Escalate at 3.3% CAGR, Ready to tank $14.17 Billion by 2029

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Published Date: October 2020

The global synthetic zeolite market accounted for US$ 10.17 billion in 2019 and is estimated to be US$ 14.17 billion by 2029 and is anticipated to register a CAGR of 3.3%

The report "Global Synthetic Zeolite Market, By Type (Zeolite A, Type X, Type Y, USY, and ZSM-5), By Application (Detergent Builder, Drying, Separation & Adsorption, and Catalytic Cracking & Specialties), By Function (Ion-Exchange, Molecular Sieve, and Catalyst), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

In February 2019, JGC Corporation has announced the start of a joint demonstration test with Japan Oil, Gas and Metals National Corporation on CO2 recovery using zeolite membranes. In the Test, the CO2 recovery process using the DDR-type zeolite membrane jointly developed by NGK INSULATORS, LTD. and JGC will be used for the first time in the world to recover CO2 from associated gas.
In January 2019, W. R. Grace & Co.-Conn, the leading manufacturer of polyolefines catalyst and polypropylene plant product (PP) has awarded Hanwa Total Petrochemical Co., Ltd. with a license for a new PP plant in Daesan, South Korea, for UNIPOL PP Process Technology. UNIPOL PP Process Technology provides a large variety of PP biopolymers and copolymers in the sector with the most mature and broadest selection.

Analyst View:

Rising demand for synthetic zeolites from the detergent industry

Synthetic zeolites are expected to grow that fastest at a CAGR in terms of revenue from 2015 to 2022. The growing need for detergents, on account of rising consumer awareness regarding hygiene, is expected to subsequently augment industry growth. Detergent builders were the largest application segment of the Type and estimated at over 3,380.0 kilo tons in 2014. These Types are extensively used as binders in detergents. Several commercial detergents contain synthetic zeolites, which help in increasing their washing efficiency. Detergents containing synthetic zeolites have high adsorption capacity for liquid components, especially surfactants. Synthetic zeolites are used to manufacture compact and super compact detergents After the ban by the European Union (EU) on the use of Sodium Tripolyphosphate (STPP) in detergents to control the increasing level of soluble phosphorus in municipal wastewater, Zeolite A was considered an ideal substitute to STPP and witnessed a substantial increase in demand. IQE Group offers specialty zeolites to detergent manufacturers that help to lower energy consumption during detergent Type as well as lower the environmental impact.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Synthetic Zeolite Market”, By Type (Zeolite A, Type X, Type Y, USY, and ZSM-5), By Application (Detergent Builder, Drying, Separation & Adsorption, and Catalytic Cracking & Specialties), By Function (Ion-Exchange, Molecular Sieve, and Catalyst), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Market Insights from the report:

The global synthetic zeolite market accounted for US$ 10.17 billion in 2019 and is estimated to be US$ 14.17 billion by 2029 and is anticipated to register a CAGR of 3.3%. The market report has been segmented on the basis of type, function, application and region.

Depending upon the type, the zeolite Y segment is projected to register highest revenue share in the synthetic overall zeolites market in terms of revenue. Zeolite Y segment offers various features such as thermal stability, durability, and reliable nature.
In terms of application, the worldwide industry is categorized into detergent builder, drying, separation & adsorption, and catalytic cracking & specialties.
By the function, the overall market is segmented into ion-exchange, molecular sieve, and catalyst.
By region, the Asia Pacific market for natural zeolites is projected to account for a significant share in the foreseeable future. India is one of the leading markets for synthetic zeolites in the Asia Pacific region. Growing population, increasing industrialization, and infrastructure development coupled with economic growth are driving the growth of the target market in India. In addition, India accounts for incredible growth in the agriculture, automotive, aerospace, aviation, architectural materials, chemicals, and water filtration sectors which in turn is driving the growth of adsorbents in the country.

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https://www.prophecymarketinsights.com/market_insight/Global-Synthetic-Zeolites-Market-By-1131

Competitive Landscape:

The prominent player operating in the global synthetic zeolite market includes BASF SE, Tosoh Corporation, Honeywell International Inc., Union Showa K.K., Chemiewerk Bad Köstritz GmbH, Anhui Mingmei MinChem Co., Ltd., R. Grace & Co., Arkema Group, Interra Global Corporation, and National Aluminium Company Limited (NALCO).

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period