Zeolite Molecular Sieve Market worth $4.4bn by 2023
Published Date: December 20, 2016 Authors: Kunal Ahuja, Kritika Mamtani
Zeolite Molecular Sieve Market size is expected to reach USD 4.4 billion by 2023; according to a new research report by Global Market Insights, Inc.
Detergent industry expansion due to growing consumer base and increased disposable income across the globe should drive global zeolite molecular sieve market growth. Rising energy consumption along with industrial hazard may fuel product demand. These products are ion exchange builders in detergent production, with high adsorption capacity and chemical stability. Other end uses of zeolite molecular sieve market include natural gas, refining, petrochemical and air drying.
Recycling and recovery of zeolite molecular sieve is easy and incurs less cost. Product also shows higher efficiency and yields fewer impurities leading increased usage by chemical manufacturers. Zeolite molecular sieve market size from catalyst application was over USD 1.3 billion in 2015 will witness gains at over 4%. They are used in reforming, hydro processing and cracking process in refining industry.
U.S molecular sieve market size may register close to 260 kilo tons by 2023. Market will be fueled by growth of catalyst application. Increasing catalyst and detergent application may drive industry growth and together held more than 70% of the total market in 2015.
Expansion of oil refining capacities to capture local market share has been a new trend amongst major market players especially in the Asian countries. This step will certainly fuel the demand for zeolite molecular sieves market.
Key inputs used in manufacturing of zeolite molecular sieve include aluminum, silica & kaolin, these raw materials are also used in ceramics, paper as well as in fabrication. This can result in scarcity of feedstock to manufactures of product owing to the expansion of other end user industries and may also affect the selling price. In addition, price increase of these raw materials will display negative impacts on profitability of the product manufacturers.
Browse key industry insights spread across 160 pages with 54 market data tables & 19 figures & charts from the report, “Zeolite Molecular Sieve Market Size By Application (Catalysts, Detergents), Industry Analysis Report, Regional Outlook (U.S., Russia, Turkey, India, China, Qatar), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
Key insights from the report include:
- Turkey zeolite molecular sieve market size for catalyst applications was over 7 kilo tons in 2015 owing to increased foreign investment from major chemical manufacturers including Socar and Henkel.
- India zeolite molecular sieve market from adsorbent application expects gain at over 7% owing to its increased usage in oil refining industry. China molecular sieves market from catalyst application will witness growth exceeding 6% owing to increasing detergent and chemical manufacturing facilities in the country.
- Latin America, driven by Brazil zeolite molecular sieve market accounted for more than 35% of the total market share in 2015 owing to increased number of wastewater treatment plants in the country.
- MEA zeolite molecular sieve market will be driven by Qatar and should witness CAGR over 2% during the forecast timeframe. Qatar oil and gas industry will witness significant growth during the next few years owing to its increasing export of LPG, crude oil and petroleum products.
- Global zeolite molecular sieve market is moderately consolidated with local and international market players. BASF, Interra global Arkema and UOP LLC are key notable companies.
- Other industrial participants include Zeochem AG, Tricat, KNT, Zeox, Union Showa, Dalian Haixin, Chemiewerk Bad Kostritz and Yingkou Zhongbao, Grace Catalysts, Anhui Mingmei MinChem.
Molecular sieve market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD billion from 2013 to 2024, for the following segments:
Zeolite Molecular Sieve Market By Application
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America (LATAM)
- Middle East & Africa