Global Zeolite Market Set for Rapid Growth, To Reach Around USD 4.50 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 04/21/2017 -- According to the report, global zeolite market was valued at around USD 3.50 billion in 2014 and is expected to reach USD 4.50 billion in 2020, growing at a CAGR of around 3.5% between 2015 and 2020. In terms of volume, the global zeolite market stood at above 3,000 kilo tons in 2014.
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Zeolite is a crystalline, microporous aluminosilicate. Zeolites are a group of hydrated aluminosilicates of alkali or alkaline earth metals, generally of three dimensional crystalline frameworks of tetrahedral structures like lithium, barium, sodium, potassium, calcium and magnesium. Zeolite occurs naturally from volcanic rocks and ash layers react with alkaline groundwater. It can be produced industrially on a large scale using raw materials such as alumina, silica and sodium hydroxide. Zeolite found wide range of applications in host of industries including, water treatment, refinery, nuclear, biogas, detergents, construction, medical, agriculture, etc.
Detergents are one of the largest application markets for zeolite. Strong demand for zeolites is mainly stem from detergents industry. Zeolites market is also expected to be fueled by rapid growth in demand as a solar thermal collectors and refrigeration adsorbents. Strong growth in refinery industry is also expected to have positive impact on growth of zeolites industry. However, development of potential substitute for zeolite to be used as a catalyst in refinery industry is expected to be a major setback for this industry.
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Key product segments of the zeolites include natural and synthetic. Global zeolite market was dominated by natural zeolites owing to strong demand for applications such as catalyst, adsorbent, detergent, etc. Natural zeolite accounted for over 60% share of the total zeolite volume consumed in 2014. Synthetic zeolite is expected to be the fastest growing segment of zeolite market during the forecast period. This can be attributed to the rapidly growing demand for synthetic zeolite as a catalyst, adsorbent and detergent builder.
Zeolites are widely used in vast range of applications. Some of the major application markets for zeolites include catalysts, adsorbents, detergent builders, etc. Detergent builder was the largest application market for zeolites in 2014, which accounted for over 50% share of the global volume consumption in 2014. Catalyst was the second largest application segment of zeolite market. However, adsorbent are expected to be one of the fastest growing application markets for zeolite.
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Zeolite market was dominated by Europe with significant share in total volume consumed in 2014. Europe was followed by Asia Pacific with over 25% share in total volume consumed in 2014. Strong demand for zeolites in Europe can be attributed to increasing use of zeolites in water treatment and utilization in disposal of nuclear waste. Asia Pacific is expected to witness significant growth of zeolite market due to large demand from emerging countries like China, India for waste water treatment.
Global zeolite market is highly competitive, with the presence of well-established global market participants. Tosoh Corporation, Arkema Group, BASF SE, Interra Global Corporation, UOP LLC, Zeochem AG, Grace Catalysts Technologies, Chemiewerk Bad Köstritz GmbH (CWK), Tricat Group, KNT Group, Zeox Corporation, Anhui Mingmei MinChem Co., Ltd, Union Showa K.K. (USKK), Dalian Haixin Chemical Industrial Co., Ltd, Yingkou Zhongbao Molecular Sieve Co., Ltd, Clariant are some of the key vendors in the market.
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