The specialty zeolites market is expected to gain major impetus in the coming years, driven by the product’s increasing application in the paints and coatings, personal care, and construction materials industries. Specialty zeolites are types of zeolites that require specialty high-pressure synthesis. These are generally designed with a wide range of silica-to-aluminum ratio and are used as odor control and removal additives in formulations like fibers, thermoplastics, films, duroplastics, and others.
However, high prices of specialty zeolites, compared to natural zeolites, is expected to slow down the demand for these compounds in the above-mentioned industries, thus emerging as a key challenge for the global specialty zeolites market growth over 2021-2027.
The specialty zeolites market is expected to benefit abundantly from the thriving cosmetics and personal care industry. Specialty chemicals have been deemed to play an elemental role in the beauty industry. Increased disposal incomes, higher inclination towards branded beauty products, and inclination towards glowing skin would potentially produce a demand spurt for beauty products rich in specialty zeolites. In fact, various researches have been working towards analyzing the positives of specialty chemicals like zeolites in the products.
For instance, researchers in the Department of Chemical and Biomolecular Engineering at the University of Texas published an article in 2020 that spoke about how synthesized zeolites can accelerate the speed and efficiency of catalyst reactions by 3 times.
Specialty zeolites are also used in the construction sector to prepare lightweight and high performance concrete. It has been claimed that the honeycomb structure of zeolites retains water which enhances its curing time and also augments the strength during curing. Additionally, a prolific expansion in the construction industry worldwide is also likely to open novel growth opportunities for specialty zeolites manufacturers. Meanwhile, the rising demand for construction in housing and commercial sectors is also expected to lay significant impact on the growth prospects of specialty zeolites market across the construction industry.
Considering the regional aspects, Europe is anticipated to hold major prominence across the specialty zeolites industry. This can be attributed to a subtle rise in environmental concerns associated with the content of VOC in paints and coatings. Additionally, elevating demand for paints and coatings in the region from automotive and construction sectors is as well likely to complement the expanding space of specialty zeolites market in Europe.
Asia Pacific is also poised to gain proceeds, driven by the expanding construction industry. According to PwC report, the Asia Pacific infrastructure market is expected to surge to $5.36 trillion a year by 2025 end. This is expected to present lucrative growth scope for the specialty zeolites market in the emerging economies like India, China, Hong Kong, Japan, and others.
Prominent companies operable in the global specialty zeolites industry are BASF SE, Clariant AG, Arkema Group, Zeochem AG, Honeywell UOP (Honeywell), Zeolyst International (Royal Dutch Shell, PQ Corporation), Albermarle Corporation, and W. R Grace & Company. These market vendors have been taking up various industry strategies and practices like acquisitions, mergers, and collaborations to transform the market growth graph and stand a level apart in the overall business space.
The novel coronavirus outbreak has brought to standstill many industries and businesses. Amongst some of the worst hit industries were construction, automotive, paints and coatings, and others. A sharp decline in the growth statistics of these sectors has had a negative influence on the overall specialty zeolites market during 2020, mainly due to imposition of movement restrictions and disruption in supply chains.