Apr 21, 2020
Global Zeolite Market to be Moderately Impacted by Covid-19 Outbreak, Production and Demand Set to Plummet, Infers Fact.MR
by Team Fact.MR
The zeolites market is forecast to witness lower single digit growth in the coming years owing to the increasing demand for synthetic zeolites and rising end-use industries. Zeolites are increasingly being used in three major applications - molecular sieves, catalysts and ion exchangers. Both natural and synthetic zeolites are widely being used across a number of end-use industries including building & construction, detergents, agriculture, water treatment and others.
The global zeolites market is expected to register a CAGR of nearly 3.0% in terms of value over the forecast period. Furthermore, customized product offerings along with market consolidation & capacity expansions are some of the recent trends that are identified in the zeolites market. Moreover, adoption of zeolites within antimicrobial applications are offering lucrative opportunities for the market over the assessment period 2020-2030. Further, the outbreak of COVID-19 has affected worldwide demand for zeolite products, as a consequence of nation-wide lockdowns to control infections. Ceased production and disrupted supply chains will scale back demand for zeolites globally.
Key Takeaways of Zeolite Market
- Global zeolite market is expected to create a value opportunity of around US$ 3.4 Bn during the forecast period, adding 1.3X more value in 2030 as compared to 2020.
- Synthetic zeolites will continue to witness accelerating demand, accounting for more than half of the global share.
- The global market for Zeolite is expected to witness high growth in emerging countries such as India, China and Brazil owing to the increased per capita spending and fluctuating weather conditions.
- Europe is estimated to be the most lucrative market in terms of revenue generation, currently valued at US$ 4.3 Bn and is expected to show prolific expansion over the forecast period
“Zeolites are being utilized across undiscovered applications, such as pharmaceuticals. The development of these applications are opening newer doors for zeolite market”, says the Fact.MR analyst.
Key Players Focusing on Product Portfolio Diversification and Expansion to Increase their Footprint in the Global Zeolite Market
The prominent players of zeolite are BASF SE, Honeywell International Inc., Arkema SA, Tosoh Corporation, St. Cloud Mining, Blue Pacific Minerals Ltd., Rota Mining Corporation., PQ Group Holdings Inc., SACHEM Inc., National Aluminium Company Limited and Huiying Chemical Industry (Xiamen) Co. Ltd.. Key players are adopting aggressive strategies to ensure their presence in global as well as regional market. For instance, BASF launched its new FCC catalyst Luminate™, which is based on improved zeolite Y technology. Commercial trials were carried out in multiple FCC units that showed increase in liquid yields with low delta coke. BASF announced the construction of its third production plant of specialty zeolites that are used for the production of mobile emission catalysts. This will double its production capacity of special zeolites. The plant is expected to begin its operations by 2019.
More Valuable Insights on Zeolite Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global zeolite market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study delivers essential insights on the zeolite market on the basis of type (natural and synthetic) and end-use (Building & construction, Water treatment, Animal Nutrition, Odor Control & Desiccant, Detergents, Agriculture and other end uses) across six major regions.
>>> To Get more insights on zeolite market, visit- https://www.factmr.com/report/3817/zeolites-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemicals & Materials industry lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.