Zeolites Market By Type (Natural, Synthetic), By End Use (Building & construction, Water treatment, Animal Nutrition, Odor Control & Desiccant, Detergents, Agriculture), By Regions - Global Insights 2020-2030
Global Zeolite Market Register 1.3X Growth amid Covid-19
Increasing demand of zeolites as catalysts, molecular sieves and ion exchangers across various end use industries is propelling demand for zeolites. This fact is in turn supported by growth in various end use industries such as building & construction, detergents and the petroleum industry. Growth in global zeolites market is attributed to high growth in its various application industries.
The detergent industry is one of the major applications of zeolites. Rising adoption of zeolites by detergent manufacturers along with stringent regulations by governments towards the use of phosphate based detergents are some of the major factors aiding zeolite market growth. Being used for a variety of applications in the FMCG industry will result in ascending growth of global zeolite market.
Furthermore, outbreak of COVID-19 has impacted the global demand for zeolite products, as a result of nation-wide lockdowns to contain the virus. Halted production and disrupted supply chains will result in plummeting demand for zeolite at a global level.
However, the impact of outbreak on the zeolite market is expected to follow a V-shaped curve with respect to economic recovery unlike other pandemics such as SARS (2002), Hong Kong flu (1968), H2N2 flu (1958) and Spanish flu (1918).
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Synthetic Zeolites to Remain Highly Preferred
The synthetic zeolite segment is projected to be the most prominent segment in the zeolites market with the segment accounting for almost of the global market in terms of value in 2019. Furthermore, market for synthetic zeolites is expected to witness a CAGR of nearly 3.0% during the forecast period. Synthetic zeolites accounted for a major share owing to its superiority over natural zeolites.
Synthetic zeolites are manufactured uniformly in a pure state. Also, desired structure can be made with the help of synthetic zeolites as per the application. Moreover, silica and alumina, the raw materials used in the manufacturing of synthetic zeolites are present in abundance. These factors are capturing the attention of manufacturers towards the manufacturing of efficient zeolite products.
Detergents to Account for 30% Market Share
Detergents segment is poised to hold over 30% of the market share in terms of value in 2019. This dominance is attributed towards the high adoption of zeolites in detergent products. Zeolites are used as builders in detergent production and help to enhance the performance of detergents by softening the water. Synthetic zeolites are widely adopted by detergent manufacturers to improve detergents’ performance. Moreover, lucrative growth in the global detergents industry is also fuelling the detergents segment growth within the zeolites market.
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East Asia to Remain Market Leader in Zeolites
East Asia is set to be the key region for zeolites sales. The market for zeolites in East Asia is estimated to grow at a CAGR of around 4.0% in terms of value over the forecast period. Presence of countries, such as China, Japan, and South Korea etc., which have well-established construction and detergents industries will give traction to the East Asian market. In addition, the production of natural zeolites in the East Asian countries is the largest as compared to other countries of the world.
Moreover, presence of local companies in manufacturing synthetic zeolites along with high consumption of zeolites across the application industries is set to drive the East Asian zeolites market. Increasing population and the subsequent increase in urbanization will strengthen zeolites market within the East Asia region.
Customization and Product Portfolio Expansion to be Key Market Tenets
The prominent players of zeolites are focusing on the expansion of the zeolites product portfolio and are dedicated towards offering customized products to various end use industries. This, in turn, is providing a competitive edge to leading players over other zeolite manufacturers and is helping them to enhance their presence in zeolite market.
The key players are coming up with innovative solutions as per the applications. Zeolite formulations are being customized to be used in applications such as detergents, building & construction, agriculture etc. For instance, IQE Group offers specialty zeolites to detergent manufacturers that help to lower energy consumption during detergent production as well as lower the environmental impact
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About the Report
Fact.MR published an exclusive forecast report for Zeolites market between 2020 and 2030. The foremost objective of this report on Zeolites market is to pitch insights on market scenario, demand generators and technological advancements in the zeolites market. Also, the study on zeolites market addresses key dynamics, which are expected to diversify the sales and future prominence of zeolites market.
The report on zeolites market begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of zeolites market elaborating on the key segments. Also, the report outlines visionary insights on dynamics of zeolites market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for zeolites.
Supply chain analysis and pricing analysis of Zeolites market along with the difference between zeolites used as per applications have also been included in the report to help the readers clearly understand the product framework map in zeolites market.
“Detergents and the stabilizing oil & gas industry are likely to present opportunities within the zeolite market as these industries are leveraging the wide adoption base for zeolites”, says the Fact.MR analyst.
Zeolite Market Segmentation
Fact.MR has studied the zeolite market with detailed segmentation on the basis of type, end-use and key regions.
By Type :
- Zeolite A
- Type X
- Type Y
By End Use :
- Building & construction
- Water treatment
- Animal Nutrition
- Odor Control & Desiccant
- Other end uses
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”