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Zeolite Molecular Sieve Market is Set to Hit USD 4.27 billion By 2022

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Zeolite Molecular Sieve Market is Set to Hit USD 4.27 billion By 2022

The global Zeolite Molecular Sieve Market size is expected to value at USD 4.27 billion by 2022. The zeolite molecular sieve industry is subject to witness a substantial growth due to the rising demand for production of detergent and catalysts. Additionally, zeolite molecular sieve is increasingly utilized as an absorbent due to of its sieve-like structure. Zeolite molecular sieve are crucial for separation and adsorption in various manufacturing process for production of detergents.

Zeolite molecular sieve used as an absorbent, particularly in oil & gas sector and for water treatment. Rising demand for detergents due to increase in hygiene awareness among consumers is anticipated to boost demand for zeolite molecular sieve as a builder in liquid and powder detergents. Globally, the zeolite molecular sieve market is predicted to grow at CAGR of 2.3% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

Rapid expansion of oil & gas industry, particularly in the North America & South America region, and end-use demand for catalysts to provide higher yield are estimated to aggravate market growth over the next seven years. In addition, substantial increase in the number of water treatment activities for wastewater treatment and purification of water are propelling market demand for zeolite molecular sieve, in the recent years.

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However, availability of various alternatives such as enzymes, metals and other chemical compounds and their relatively lower cost in comparison with zeolite molecular sieve are expected to limit market demand to a certain extent. Additionally, volatility in cost of raw materials is restraining market growth, in the last few years. Yet, introduction of silver infused sieves as an antimicrobial is expected to amplify market expansion in the near future.

Zeolites, which are micro-porous in nature and contains alumino-silicate minerals are commonly used as industrial adsorbents and catalysts. Zeolites are naturally found compounds. However, zeolites are manufactured for industrial use on a large scale. Industrially important zeolites are manufactured via various synthetic technique. Industrial zeolites are produced by heating aqueous solutions of alumina and silica with sodium hydroxide, while sodium aluminate and sodium silicate acts as a catalyst. Industrial application of zeolites include ion-exchange beds in residential and commercial water purification, softening, and other applications. Primary use of zeolites is in production of detergents.

The zeolite molecular sieve industry is broadly categorized into four major segments based on the application type such as detergents, catalysts, wastewater management and oil & gas industry. The detergents is considered as one of the fastest growing segment in the zeolite molecular sieve market with substantial revenue generation in the last few years. Growing popularity of zeolite molecular sieve in the detergents segment is attributed to the extensive use as binders. The oil & gas industry segment has also witnessed substantial growth owing to the increasing demand for absorbents.

The zeolite molecular sieve industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest techniques in detergents manufacturing sector, increase in the number of research & development activities in the region, expansion of oil & gas industry, and existence of well-established industrial infrastructure.

Asia-Pacific region is predicted to hold major market share in the zeolite molecular sieve market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing adoption for production of lightweight construction material, growing use in production of asphalt concrete mix, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the zeolite molecular sieve industry are Tosoh Co., Arkema, Inc., BASF SE, Honeywell UOP LLC, Grace Catalysts Technologies, Inc., Zeox Co., Chemiewerk Bad Köstritz GmbH, and Union Showa K K.

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