The synthetic zeolites market is projected to grow at a CAGR of 3.6%, in terms of value, from 2017 to 2022
The synthetic zeolites market is projected to reach USD 16.28 billion by 2022, at a CAGR of 3.6% between 2017 and 2022. This growth can be attributed to the increasing demand for FCC catalysts, rising demand from the detergent industry, and growing market for VOC adsorbents. A mature detergents market in Europe and diminishing crude oil reserves are the restraints in the synthetic zeolites market.
Based on type, the zeolite X segment is projected to grow at the highest CAGR during the forecast period
Zeolite X is used for the adsorption of CO2 from flue gas streams and purification of air for industrial air separation. The ion exchange properties of zeolite X help in softening water and removing toxic or radioactive metal ions from water. It is also used for drying hydrocarbons and high purity gases.
Based on application, the adsorbents segment is projected to grow at the highest CAGR during the forecast period
In the adsorbents application segment, synthetic zeolites help in the separation of gases, such as the removal of H2O, CO2 and SO2 from low-grade natural gas. Oxygen concentrators use synthetic zeolites to remove nitrogen from compressed air to produce medical oxygen.
The Asia-Pacific region is expected to be the fastest-growing synthetic zeolites market during the forecast period
Rapid urbanization, increasing population, and changing lifestyles have resulted in the rising demand for phosphate-free detergents in the Asia-Pacific region, in turn, leading to the increasing demand for synthetic zeolites. The Asia-Pacific ranked second in terms of refinery capacity in the world. This has led to the increasing demand for FCC and hydrocracking catalysts in the region. Growth in the detergents and catalyst applications has led to the rising demand for synthetic zeolites in the Asia-Pacific region.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 42 %, Tier 2 – 25%, Tier 3 – 33%
• By Designation: C level – 33%, Director level – 25%, Others – 42%
• By Region: North America – 44%, Europe – 25%, Asia-Pacific – 19%, Middle East & Africa – 6%, South America – 6%
As a part of the qualitative analysis, this research study provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. The report defines, describes, and forecasts the synthetic zeolites market based on type, application, and region. It provides a strategic analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market.
The report also discusses the competitive strategies adopted by various market players, such as Albemarle Corporation (U.S.), BASF SE (Germany), Honeywell International Inc. (U.S.), Clariant AG (Switzerland), W. R. Grace & Co. (U.S.), Tosoh Corporation (Japan), Union Showa K.K. (Japan), Zeochem AG (Switzerland), KNT Group (Russia), and Arkema S.A. (France).
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses — industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the synthetic zeolites market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on synthetic zeolites offered by the top market players
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the synthetic zeolites market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for synthetic zeolites across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the synthetic zeolites market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the synthetic zeolites market