Nov 25, 2021   SOURCE: BusinessWire

The Worldwide Zeolites Industry is Expected to Reach $14.1 Billion by 2026 - ResearchAndMarkets.com

The "Global Zeolites Market by Type (Natural, Synthetic), Function (Ion-Exchange, Catalyst, Molecular Sieve), Synthetic Zeolites Application (Detergents, Absorbent, Catalysts), Natural Zeolites Application, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global zeolites market size is estimated to be USD 12.1 billion in 2021 and is projected to reach USD 14.1 billion by 2026, at a CAGR of 3.1% between 2021 and 2026.

Increasing demand for zeolites as catalysts in fluid catalytic cracking (FCC) applications in oil & gas and petroleum industry is driving the growth of this market.

Zeolites are inorganic materials that are widely used in the chemical industry as catalysts or adsorbents. They are also known as molecular sieves as zeolites can selectively sort molecules using the size exclusion process. Earlier, zeolites were considered porous aluminosilicates with a very high affinity toward cations. Zeolites can either be macroporous, mesoporous, or microporous, depending on the framework of the structural rings. Due to their excellent adsorption, cation-exchange, dehydration-rehydration, and catalysis properties, zeolites are used for wastewater treatment, air purification, and soil treatment.

Natural Zeolites are expected to dominate the zeolites market during 2021-2026

By type, natural zeolite segment is projected to lead the market. This is majorly due to the growing demand for natural zeolites in various applications such as construction & building materials, soil remediation, animal feed and wastewater treatment among others.

Catalyst is expected to dominate the zeolites market, by function, during the forecast period

Based on function, catalyst segment is estimated to account for the largest share of the overall zeolites market, in terms of value, in 2020. Zeolites are the most important inorganic material used in the production of oil & gas in the petrochemical and oil refining industries. They are routinely used as catalysts in fluid catalytic cracking (FCC) and hydrocarbon cracking (HC) applications. Zeolite catalysts have the advantage of removing hydrogen from alkanes at the acidic sites or reaction sites.

Asia Pacific is expected to dominate the zeolites market during 2021-2026

Asia Pacific dominated the global zeolites market in 2020. It is majorly due to the increase in demand for zeolites from major countries such as China, Japan, and India. China is the largest market for zeolites market in Asia Pacific. Surging demand for transportation fuels is driving the market for refinery catalysts in the Asia Pacific region.

Market Dynamics

Drivers

  • Rising Demand for Synthetic Zeolites from the Detergent Industry
  • Growing Demand for Natural Zeolites from Agriculture Sector
  • Significant Usage of Zeolites for Catalytic Cracking in Petroleum Industry

Restraints

  • High Selectivity Leads to Lower Exploitation of Zeolites for Various Applications

Opportunities

  • Rising Demand for Adsorbents

Challenges

  • Toxic Nature of Synthetic Zeolites

Companies Mentioned

  • Albemarle Corporation
  • Arkema
  • BASF SE
  • Chemiewerk Bad Kostritz GmbH
  • Clariant
  • Dalian Haixin Chemical Co., Ltd.
  • Eurecat
  • Fujian Anten Chemical Co. Ltd
  • Gordes Zeolite
  • Gujarat Credo Mineral Industries Ltd (GCMIL)
  • Gujarat Multi Gas Base Chemicals Pvt. Ltd. (GMGBC)
  • Honeywell International Inc.
  • Huiying Chemical Industry(Xiamen) Co., Ltd.
  • IQE Group
  • KNT Group
  • Manek Group
  • Nalco India
  • Ningbo Jiahe New Materials Technology Co., Ltd
  • PQ
  • Sorbead India
  • Tosoh Corporation
  • Union Showa K.K
  • W. R. Grace & Co.
  • Zeochem AG
  • Zeolyst International

For more information about this report visit https://www.researchandmarkets.com/r/jvr2sd