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).
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 60% 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.
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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.
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.
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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
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.
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Zeolite Market Segmentation
Fact.MR has studied the zeolite market with detailed segmentation on the basis of type, end-use and key regions.
- Zeolite A
- Type X
- Type Y
- Building & construction
- Water treatment
- Animal Nutrition
- Odor Control & Desiccant
- Other end uses
- 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.”
Zeolite Market- Scope of the Report
The recent study by Fact.MR on zeolite market offers a 10-year forecast between 2020 and 2030. The study analyzes crucial trends that are currently determining the growth of zeolite market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of zeolite. The study also provides dynamics that are responsible for influencing the future status of the zeolite market over the forecast period.
A detailed assessment of zeolite value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the zeolite market along with their production capacity analysis enhances the reliability of this comprehensive research study.
Zeolite Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in zeolite market across the globe.
A comprehensive estimate on zeolite market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of zeolite during the forecast period. Price point comparison by region with global average price is also considered in the study.
Zeolite Market: Analysis on Market Size Evaluation
Zeolite market has been analyzed for each market segment, in terms of volume (Kilo tons) and value (US $ Mn).
Market estimates at global and regional levels for Zeolite is available in terms of “US$ Mn” for value and in “Kilo tons” for volume. A Y-o-Y growth contrast on prominent Zeolite market segments, along with the market attractiveness evaluation has been incorporated in the report.
Furthermore, the absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve along with identifying potential resources, considering sales and distribution perspective in the global Zeolite market.
Zeolite Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the Zeolite report, which helped to deliver projection on the regional markets. These chapters include the regional macros (political economic, and business environment outlook), which are expected to have a momentous influence on the growth of Zeolite market during the forecast period.
Country-specific valuation on demand for Zeolite has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
Zeolite Market: In-depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of Zeolite along with their detailed profiles. Essential and Up-to-date data information related to the market performers, who are principally engaged in the production of the Zeolite, has been brought with the help of a detailed dashboard view.
Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.
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