Global Zeolite Market to reach nearly US$ 19 Bn, spurred by High Investments in Petrochemical Manufacturing, Projects Fact.MR
Published : 23 Feb 2022 Industry: Chemical & Materials
A recently published Fact.MR report expects the demand for zeolites to expand at a CAGR of 5% in terms of value during the period of assessment. Moreover, the report estimates that the market for zeolite is likely to surpass US$ 18.98 Bn by end of 2032. The market is expected to be driven by rising capacity expansions in petrochemicals production coupled with investments in water treatment projects and detergent manufacturing.
From 2015 to 2021, zeolite market revenue flourished at a CAGR of 5.4%, being valued at US$ 11.1 Bn by the end of the said historical period. Growth prospects took a backseat during the COVID-19 pandemic, attributed to restrictions on petrochemicals production due to the imposition of lockdowns. However, as the infection rates began plateauing, manufacturing prospects gradually recovered, thus restoring demand.
Synthetic zeolites are extensively used as detergent builders to extract water hardness ions and soften the water medium for cleaning and laundry purpose. Rising hygiene concerns, especially after the COVID-19 outbreak, have propelled the production of detergents, and thus, positively influenced the zeolite demand. For instance, the laundry and care business of Henkel observed a growth of over 5% in sales in 2020 owing to a rise in the demand for cleaning products globally.
Key Takeaways from the Market Study
- Global zeolite market revenue to surpass US$ 11 Bn by the end of 2022
- Zeolite catalysts to account for 47% of the global market revenue in 2022 and beyond
- Over 4 out of 5 zeolite sales to be synthetic ones, expected to flourish further until 2032
- North America to comprise 1/5th of global zeolite sales in 2022 and beyond
- Asia Pacific to document a value CAGR of 6.3% from 2022 to 2032
- Middle East & Africa to emerge as the dominant zeolite market, accumulating a revenue share of 55%
“As the global petrochemical industry continues to flourish, market players are seeking out approaches which will streamline the production, extraction and exploration processes, thereby providing impetus to the uptake of zeolites,” says a Fact.MR analyst.
Some prominent players in the market for zeolite are Clariant; BASF; GCMIL; KMI Zeolite; Rota Mining Corporation; and Albemarle Corporation. Frontrunners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:
- In April 2020, Metasearch Limited, an Australian mineral and compound producer, has secured a license from UniQuest, the technology transfer company of the University of Queensland, for synthesizing zeolite. The technology will help the company to reduce the time and cost of manufacturing.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the market providing historical data for the period of 2015-2021 and forecast statistics for the period of 2022-2032.
The study gives critical insights into the zeolite market on the basis of application (catalysts, adsorbents, detergent builders, cement, animal feed and others) and product (natural and synthetic), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Sr. Consultant – Chemicals and Materials