Global Zeolite Molecular Sieve market is expected to reach USD 4.27 billion by 2022, according to a new study by Grand View Research, Inc. Increasing demand for energy coupled with stress on green technologies has resulted in growing demand for zeolite molecular sieves as catalysts for petroleum refining. Higher efficiency and yield, and non-toxicity property of zeolites has resulted in the extensive use of the mineral for catalytic operations.
Detergents accounted for over 70% of the global zeolite molecular sieve market volume share in 2014. Zeolite molecular sieves are used in detergents owing to its ability to produce demineralized water through calcium ion exchange which helps in the removal of any kind of dirt. This has resulted in a tremendous demand for zeolite molecular sieves from detergent segment. Zeolite molecular sieves being increasingly used in the petroleum industry as catalysts which is anticipated to drive market growth.
Global zeolite molecular sieve market, by application, 2012 – 2022 (Kilo Tons)
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Further key findings from the study suggest:
- Global zeolite molecular sieve demand in catalysts was 345.7 kilo tons in 2014 and is expected to grow at a CAGR 2.3% from 2015 to 2022. Increasing industrial use of zeolite molecular sieve as catalysts in the petroleum industry has resulted in driving market growth over the past few years and the trend is anticipated to continue over the forecast period. Zeolite molecular sieves are used for cracking of petroleum as it causes certain structural changes during the chemical reaction which helps in manufacturing petrochemicals.
- Asia Pacific is expected to be a lucrative market, which accounted for 32.0% of global zeolite molecular sieve market volume in 2014. Growing demand for refrigerants and detergents, and an increasing utilization of zeolites in advanced processing methods in nuclear industry for the removal of nuclear waste is expected to have a positive impact in the region over the forecast period.
- In 2013, global natural zeolite mining output exceeded 2,700 kilo tons, where China was the largest producer accounting for over 70% of the output. China was the largest consumer for natural zeolites in 2014, owing to the presence of a well-established manufacturing base for detergents, petroleum refining, gas separation and water purification.
- Kay players present in the global zeolite molecular sieve market include Tosoh Corporation, Arkema, BASF, UOP, Grace Catalysts Technologies, Zeox Corporation, Chemiewerk Bad Köstritz and Union Showa K K. the global market is characterized by integration across raw materials and manufacturing stages of the value chain.
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