Future Market Insights
Zeolite Market: Introduction
Zeolite is basically a crystalline solid mineral made of silicon, aluminum and oxygen. It is also referred to as aluminosilicates or molecular sieves. Zeolite is a naturally occurring mineral and can be developed synthetically as well. It is an exceptionally stable compound which can resist many different kinds of environmental conditions. Zeolites exhibit properties, such as high melting point, high resistance to oxidization, high pressure resistance and do not easily dissolve in water or other inorganic solvents. However, the most significant property of zeolites is their porous molecular structure, which is such that they form a 3D framework structure which contains cavities or cages, thereby making zeolite a porous compound. Owing to these properties, zeolites are extensively used as an ion exchanger, mostly in water softeners and filters. Zeolites can also be used as catalysts (shape selective catalysts) and adsorbents in many applications. Zeolites find wide applications in the detergent industry, refinery industry, etc. Therefore, owing to these unique properties of zeolite and wide usage in end use industries, the zeolite market is expected to witness steady growth over the forecast period.
Zeolite Market: Dynamics
Zeolite is widely used in end use industries as a catalyst and to induce ion exchange, adsorption and separation. The shape selective catalyst is widely used as a detergent builder in the detergent industry. Furthermore, it is also used in water treatment and nuclear and agricultural applications. Detergents are one of the most prominent applications of zeolite. Factors, such as rising disposable income and growing standard of living, have positively impacted the detergent industry over the past few years. Therefore, the increasing demand for detergents is one of the key driving factors for the zeolite market. Zeolite also finds usage in agricultural and household products where they are used as an odor controller. They are also a key component in water treatment processes where they are used for water filtration, heavy metal removal and in swimming pools. The demand for zeolites as a refrigeration adsorbent is also growing, which is expected to positively impact demand. Therefore, the aforementioned reasons are some of the key driving factors which may fuel the demand over the forecast period.
Molecular properties of zeolite makes it one of the ideal shape selective catalysts. Furthermore, they require less technical complexity in their manufacturing. However, threat from substitutes which are equally cost competitive as catalysts is a significant factor which might hamper the growth of zeolite market over the forecast period.
Improvements in manufacturing techniques coupled with technological innovations will enhance the overall manufacturing process. Furthermore, the manufacturers are focusing on building upon technologies with lesser complexity in production.
Zeolite Market: Segmentation
The global zeolite market can be segmented on the basis of type, function and application. On the basis of type, the zeolite market can be segmented into Natural zeolite and Synthetic zeolite. On the basis of function, the zeolite market can be segmented into Catalysts, Adsorbents and Separators and ion exchange (detergent builders). On the basis of application, the zeolite market can be segmented into Chemical, Agriculture, Petrochemicals, Water treatment and Others.
Zeolite Market: Regional Outlook
Europe is expected to dominate the global zeolite market in terms of consumption. This can be attributed to the increasing production of bio-based chemicals and growing usage in thermal and nuclear applications. After Europe, Asia Pacific is estimated to account for a significant share and record robust growth owing to increasing usage of zeolites in water treatment and its growing demand in the detergent industry. North America is estimated to record steady growth owing to the usage of zeolite in nuclear industry and refineries. Latin America and Middle East & Africa are expected to show steady growth over the forecast period.
Zeolite Market: Market Participants
Examples of some of the market participants in the global Zeolite market are-
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