According to a new market report published by Credence Research, “Zeolites Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global Zeolites market is expected to at a CAGR of 3.7% from 2017 to 2025.
Browse the full Zeolites Market by form natural and synthetic, by application Medical Application, Catalyst, Adsorbent, Detergent builders and Others – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/zeolites-market
The global zeolites market is expected to witness high growth during the forecast period 2017 to 2025. Strong demand from detergents industry is anticipated to drive the demand for the zeolites in upcoming years. The global zeolites market is projected to grow a CAGR of 3.7% from 2017 to 2025.
By product type, zeolites market segmentation includes natural and synthetic type; of which, in 2016, natural form dominated the market in terms of revenue contribution and is further expected to remain dominant during the forecast period of 2017 to 2025. Currently, growing demand for natural zeolites catalyst, adsorbent, etc. is fueling the demand for natural form of zeolites. However, synthetic form segment is expected to register high growth in the near future. Owing to rapidly growing demand for synthetic zeolite as a catalyst, adsorbent and detergent builder.
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On the basis of applications, the global zeolites market is segmented into catalysts, adsorbents, detergent builders and other applications. Among these, detergents supplements segment dominated the market. This segment is projected to maintain its dominance over the next eight years. Furthermore, decrease in the use of phosphates will help in the growth of the global zeolites market as they are the most preferred substitute for phosphates. Some of the other factors fuelling the zeolites market growth include demand from water treatment, refinery, nuclear, biogas, detergents, construction, medical, agriculture, etc. applications.
For the purpose of this study, the global zeolites market is categorized into regional markets viz., North America, Europe, Asia Pacific and Latin America and Middle East and Africa. In base year 2016, Europe and Asia pacific were observed as the largest market for zeolites. In Asia Pacific, China and India serve potential markets for zeolites in the next five to six years. Growing consumption of zeolite as detergent builders and absorbent especially in China and India, along with commercialization measures for zeolite as an absorbent in various end-use industries is likely to fuel the zeolite market growth.
Furthermore, zeolites market is moderately consolidated due to the presence of a few established players. Companies present in Asia pacific and Europe are extensively focusing on research and development for developing blend formulations comprising zeolites as a catalyst, absorbent, etc. and focusing on expanding their business network, across regional markets. Anhui Mingmei MinChem Co. Ltd., Arkema Group, BASF SE, Chemiewerk Bad Köstritz GmbH (CWK), Clariant, Dalian Haixin Chemical Industrial Co.Ltd., Grace Catalysts Technologies, Interra Global Corporation, KNT Group, Tosoh Corporation, Tricat Group, Union Showa K.K. (USKK), UOP LLC, Yingkou Zhongbao Molecular Sieve Co.Ltd., Zeochem AG and Zeox Corporation. are few key manufacturers in zeolites market.
- Growing consumer inclination towards synthetic zeolites
- Increasing array of applications
- Asia pacific is expected to register the highest growth rate
- High prices of zeolites products is acting as a restrain to growth of the market
- Strong demand from emerging economies