Synthetic Zeolite Market - Forecasts and Segments by Technavio

Technavio has published a new report on the global synthetic zeolite market from 2017-2021. (Graphic: Business Wire)

LONDON--()--According to the latest market study released by Technavio, the global synthetic zeolite market is expected to grow at a CAGR of more than 4% during the forecast period.

This research report titled ‘Global Synthetic Zeolite Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global synthetic zeolite market is growing rapidly due to excessive industrial use and rise in demand from the detergent, petrochemical, and absorbent industries, which are the major application sectors of the market. In 2016, the major share of the global synthetic zeolites market came from the detergent industry, with more than 69% market share. This dominance of the detergent industry in the global synthetic zeolites market is due to the rise in the use of detergents in households of emerging economies, increase in disposable income in developing nations, and rising environmental and health concerns.

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Technavio’s chemicals and materials research analysts categorize the global synthetic zeolite market into the following segments by application. They are:

  • Detergent
  • Catalysts
  • Absorbents
  • Others

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The top three revenue-generating application segments of the global synthetic zeolite market are discussed below:

Detergent

Synthetic zeolites are mainly used in the detergent industry as detergent builders. Common zeolites used in detergents are Zeolite P, X, and AY. Regulatory authorities and government agencies have restricted the use of phosphorus compounds in detergents with respect to environmental safety. These regulations forced detergent vendors to look for alternatives, and synthetic zeolites were suitable substitutes due to their unique properties.

According to Mohd Shakeel Iqbal, a lead metals and minerals research analyst from Technavio, “The global detergent market is growing significantly, due to changing washing habits, change in life style, growing urbanization, increasing disposable income, and rising demand for industrial and household detergents. This growing detergent market is increasing the consumption of synthetic zeolites.”

Catalysts

Synthetic zeolites are largely used as catalysts in the petroleum industry for the separation of high-quality propellants, cracking, refining, and chemicals separation processes. Zeolite Y is commonly used as catalysts. Its unique property of exchanging ions makes it suitable for the cracking process.

“North America is dominating the market. Vendors in APAC are increasing their production capacities. The low investment required in setting up manufacturing units for synthetic zeolites is indirectly driving the growth of the market in APAC. The demand in the Middle East and APAC is increasing significantly due to major oil exploration activities in these regions. The demand in Europe is growing at a slow pace as the majority of the investments moved to APAC and the Middle East,” adds Shakeel.

Absorbents

The absorbents segment is estimated to hold almost 12% of the overall market by the end of the forecast period. Absorbents are largely used for removing gases and fluids. Synthetic zeolites are good absorbents. Their unique property of absorbing high quantities of water makes them suitable for low-temperature applications. The absorption ability of synthetic zeolites does not diminish at low temperatures in contrast to other absorbents. This unique absorption ability gives them a favorable position in absorbents segment.

A significant demand from various applications where synthetic zeolites are used as absorbents will propel the growth of the global synthetic zeolite market in the absorbents segment during the forecast period.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Albemarle
  • BASF
  • Clariant
  • Honeywell International
  • W. R. Grace & Co.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 361 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global synthetic zeolite market is expected to grow at a CAGR of over 4% until 2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 361 1100
UK: +44 203 893 3200
www.technavio.com