- The zeolites market registered a CAGR of ~2% during the period 2014 to 2018. Sluggish growth of the zeolites market was attributed to declining crude oil production that hampered the market growth. However, potential of zeolite membranes to separate CO2 from natural gas, favored growth of the market.
- The global zeolites market was valued at ~US$ 10.6 Bn in 2018, and is anticipated to grow at a CAGR of 3% through 2029. Gains are attributed to the growing demand of zeolites as catalysts, ion exchangers, and molecular sieves across various end-use industries.
- Europe is expected to remain the leading market for the zeolites. Growing consumption of bioenergy and biofuel has led to the rise in demand for fodder crops that require large amounts of fertilizers, consequently driving the demand for zeolites.
- Growing demand for customized zeolites that cater to the needs of the specific applications is among the fast-growing trends, which has bolstered innovations in the market. Another aspect shaping the zeolites market is the increasing demand from the agricultural industry.
Zeolites Market: Competitive Analysis
According to Fact.MR’s recent publication, the zeolites market remains moderately consolidated in nature, with ~40% shares held by leading companies in 2018. Key companies are focused on technology advances and optimizing operations to remain ahead of the curve. While leading companies adhere to vertical integration, mid-level competitors are concentrating efforts towards product portfolio expansion and enhancing customer base, while emerging players emphasize brand recognition.
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The frontrunners in the zeolites market continue to focus on new product developments, to come up with solutions built on next-gen zeolite technologies. These players are also making profuse investments in capacity expansions, and upgrading their manufacturing techniques. Clariant AG and BASF SE are among the key companies incorporating these strategies.
Increasing utilization of zeolite across untapped applications, including energy & power and healthcare, is likely to create opportunities for the market players. Zeolites manufacturers are therefore focusing bespoke offerings that suit the distinct requirements of end-users. Global rise in spending on the construction industry is likely to pave opportunities for the zeolites manufacturers. While the zeolites market is characterized by long-term manufacturer-supplier relationships, companies are engaging in acquisition and collaboration strategies in an attempt to expand their customer base.
Key Growth Determinants of the Zeolites Market
- Demand for zeolites continues to grow among detergent manufacturers, driven by stringent regulations on the use of phosphate-based detergents. The environmental concerns related to phosphates, owing to discharge through wastewater have led the shift toward adoption of zeolites in detergents.
- Proliferation in the production of petroleum in recent years has created opportunities for the zeolites manufacturers, in light of the chemical’s use for separation of mixtures, such as the olefins and paraffin hydrocarbons.
- Zeolite’s antimicrobial applications are expected to remain key influencers of growth, as the demand for silver zeolites grows significantly among end users. Studies suggest that zeolite formulations could be blended with several materials used in manufacturing medical devices, textiles, and household items, where antimicrobial property is an essential requirement.
- The generation of hydrogen-based energy has been paramount and widespread, with the focus of governments to move toward a sustainable economy and seek long-term energy sources. Zeolites play a vital role in the energy generation process, making it sustainable by acting as catalysts.
- Water treatment and soil amendment activities are on the rise on account of the increasing environmental concerns. Moreover, groundwater contamination caused by soluble nitrogen-based fertilizers has directed attention towards natural zeolites that restrict the nitrification of ammonium to nitrate. Additionally, natural zeolites aid in soil enrichment, thereby contributing to the healthier development of plants.
Zeolites Market - Key Factors Impeding Growth
- Increasing availability of alternatives to zeolites, such as activated carbon, perlite, aluminophosphates, and silica gels in place of zeolites is expected to ebb the demand for synthetic variants. Although zeolites have gain widespread acceptance across myriad applications, high performance of key alternatives are likely to stymie adoption of zeolites to a certain extent. Moreover, the rising adoption of zeolite-free detergents is likely to boost the demand for substitutes, thereby hindering the market growth.
- Zeolites exhibit cuboidal, fibrous, or other crystalline morphologies, which are often considered as contaminants capable of inducing pulmonary changes that cause irritation to the respiratory tract. Few non-pulmonary toxicological changes are created by either the synthetic or natural zeolites, which could hinder the adoption of zeolites in the foreseeable future.
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Zeolites Market - Additional Insights
Synthetic Zeolites Remain Preferred Category
The study opines that synthetic zeolites continue to witness a relatively higher demand than natural zeolites. Sales of synthetic zeolites are likely to remain modest in the foreseeable future, accounting for ~60% shares of the global market. Favorable ecological properties of synthetic zeolites have led them to rapidly replace phosphates as the raw material for manufacturing detergents. The abundant availability of raw materials used to produce synthetic zeolites and the ability to make desired structure with the help of synthetic zeolites are propelling their production and adoption among end-users.
The zeolites market report offers the audience with a detailed assessment of the market with the help of market value and forecasts articulated on the basis of a verified and effective research methodology. The detailed research is based on thoroughly assessed primary and secondary data by expert analysts at Fact.MR, further adding value to the zeolites market report. Fact.MR’s proprietary deep-rooted analysis model has been incorporated to generated significant market estimations backed by the impact of macroeconomic factors. Information validated by primary respondents, further augments the credibility of the study which acts as a vital business tool that is an authentic source of information for the companies looking to expand in the zeolites industry. The exclusive zeolites market insights allow stakeholders to take informed decisions and formulate long-term strategies for the growth of their business.
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