The zeolite market produced approximately USD 27.8 billion in 2014. It is anticipated to grow significantly during the forecast period (2015 to 2022). This will be due to demand for detergents, awareness regarding hygiene, and growing refining yield. Moreover, demand for natural products in the industries of agriculture, pet litters, and concrete should also drive the market.
Growing disposable earnings and emphasis on ecological safety are likely to increase market incomes in Latin America, Asia Pacific, and Middle East & Africa. Additionally, enhanced infrastructure in these regions would drive the consumption of zeolites in the forecast period.
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Low pricings of zeolites and usage of the latter for microbial protection should also raise market sales. Zeolites involve less preliminary infrastructural spending and technical complications. Along with these, huge demand for builders, adsorbents, and catalysts has led to market expansion. The zeolite market is divided into products, applications, and regions.
In terms of products, natural zeolites led the market and had more than 60% shares in 2014. Synthetic will grow at over 2.5% CAGR in regards to volumes during 2015 to 2022. Awareness regarding cleanliness & fitness has furthered the use of synthetic zeolites in water treatment.
Application segments comprise adsorbents, catalysts, and detergent builders. Detergent builders were the biggest application in 2014. They generated more than USD 19, 000 million that year. Adsorbents should expand at around 1.6 % CAGR in the coming seven years due to demand across several applications.
These applications are drying & air separation, water treatment, gas separation, and petroleum refinement. Regional segments of the zeolite market include Europe, Asia Pacific, North America, and rest of the world. Europe led the market in 2014. It accounted for over 1, 600 kilo tons the same year.
Asia Pacific is estimated to experience significant expansion during the forecast period. It would have a CAGR of more than 3 % by volumes during the same period. This should happen in view of escalating infrastructural spending in India, China, Malaysia, Indonesia, and other South Eastern nations.
Main players in the worldwide zeolite market encompass UOP LLC, Tosoh Corporation, Zeochem AG, Arkema Group, and Grace Catalysts Technologies. They are expanding their capacities in Europe & Asia Pacific and implementing other strategies to gain more shares.
Information Source: Grand View Research