SYNTHETIC ZEOLITES MARKET TO REACH USD 6.4 BILLION BY 2027 | CAGR 2.3% – FORENCIS RESEARCH

Synthetic Zeolites MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Synthetic Zeolites Market: Key Highlights

  • According to the new market research report Synthetic Zeolites Market by Function (Ion-Exchange, Adsorption/Molecular Sieves, and Catalyst), by Type (Zeolite A, Type X, Type Y, Ultra-Stable Y (USY), and Zsm-5), by Application (Detergent Builde, Drying, Separation, and Adsorption, Catalytic, Cracking, and Specialties), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Synthetic Zeolites market is estimated to reach USD 6.4 Billion by 2027 at a CAGR of around 2.3% during the review period.
  • Synthetic zeolites are thermal and chemical stability, and they can easily recover and recycled with minimal loss of activity
  • It is classified as safe, low-risk chemicals and has existing regulatory approval for use in a broad number of applications
  • Synthetic zeolites have a broad range of industrial, commercial and consumer uses. The three primary applications of synthetic zeolites are as catalysts, desiccants or adsorbents and in detergents.

Synthetic Zeolites Market

Global Synthetic Zeolites Market: Key Market Dynamics

  • Global synthetic zeolites market is witnessing steady growth attributed to the growing demand from the petrochemical refining, gas separation, and wastewater filtration end-use industries
  • Increasing demand from the detergent industry which is expected to boost the global synthetic zeolite market during the review period
  • Increasing use of synthetic zeolite in the petroleum industry for catalytic cracking is also projected to spur the global synthetic zeolite market
  •  Moreover, increasing global demand for adsorbents is expected to create a new market opportunity for the key market players
  • However, lower exploitation of synthetic zeolites for various applications is hinder the synthetic zeolite market growth

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Global Synthetic Zeolites Market: Regional Overview

  • Asia-Pacific

The synthetic zeolites market in the Asia-Pacific region is projected to account the largest share, due to the growing refining industry to meet the increasing demand for oil. Moreover, the presence of leading economies, such as China, and India, and increasing population, and growing urbanization has expected to boost demand for detergent which further boosts the demand for synthetic zeolite market.

  • North America

North America synthetic zeolite market is projected to witness significant growth during the forecast period. This growth can be attributed to the increasing demand for zeolites as a softening agent in the soap and detergent industry. Furthermore, growing environmental concerns against the usage of phosphate have also stimulated the demand for zeolites across several industries in North America.

Global Synthetic Zeolites Market: Key Players Overview

  • Albemarle Corporation:

Albemarle Corporation is a global developer, manufacturer and marketer of speciality chemicals. The company majorly operates through three business segments namely lithium and advanced materials, bromine specialities and refining solutions. Albemarle Corporation serves various end markets, including petroleum refining, consumer electronics, energy storage, construction, automotive, lubricants, pharmaceuticals, crop protection, food safety and custom chemistry services. In December 2017, Albemarle Corporation launched a new technology for the Fluid Catalytic Cracking (FCC) catalyst market namely Granite. The Granite technology platform is based on a novel matrix/binder system, which expands the catalyst formulation window and enables refiners to maximize their profitability through better bottoms upgrading, improved coke selectivity, and higher zeolite stability while achieving targeted product yields.

  • BASF SE:

BASF SE is one of the leading chemical company across the globe. The company operates through six business segments including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions. The Materials segment consists of Performance Materials and Monomers divisions. The Industrial Solutions segment consists of Dispersions & Pigments and Performance Chemicals divisions. The Surface Technologies segment consists of Catalysts, Coatings and Construction Chemicals divisions. The Nutrition & Care segment consists of Care Chemicals and Nutrition & Health divisions. The Agricultural Solutions segment consists of Agricultural Solutions division, which focuses on the provision of crop protection products and seeds. In September 2017, BASF SE has invested in a new production plant for speciality zeolite in the Ludwigshafen, Germany.

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Rep Id : CM 087

Published : 2020-07-10

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