New York, April 28, 2023 (GLOBE NEWSWIRE) -- The global zeolite market size was USD 8.5 Billion in 2022. It is projected to surpass around USD 12.7 Billion by 2032, and it is poised to reach a registered CAGR of 4.2% from 2023 to 2032.
Zeolites consist of a mixture of synthetic crystals and minerals that are naturally occurring. They are primarily used in a wide range of industrial applications due to their high surface area, thermal stability, and chemical inertness including construction, agriculture, and healthcare. Zeolites are highly used in the chemical industry as catalysts, absorbents, and ion exchange materials. The construction industry is the prior end-user of zeolites which gets used in cement additives and concrete mixtures. The unique properties of zeolites make them an essential material in many industries and as awareness of the benefits of zeolites rises the demand for these materials is expected to grow in the future.
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Key Takeaway:
- By type, in 2022, the zeolite market was dominated by the synthetic segment due to its customized properties.
- By application, the catalysts segment dominated the largest market share in application analysis and accounted for the largest revenue share in the zeolite market in 2022.
- By function, the catalyst segment dominated the largest market share in 2022.
- In 2022, Asia Pacific dominated the market with the highest revenue share of 30%.
- North America is anticipated to have the highest CAGR among all the regions.
- APAC is expected to grow at a greater pace owing to the increasing demand from China, Japan, and India and rapid industrialization and urbanization.
Factors affecting the growth of the Zeolite industry
There are several factors that are affecting the growth of the zeolite industry. These include:
- Rising demand for zeolites: Zeolites are used in a huge range of applications such as gas purification, water treatment, petrochemical refining, and catalysis. The growing demand for these applications is propelling the growth of the zeolite market.
- Increasing awareness of environmental issues: The increasing concern for the environment shows the growing need for sustainable and eco-friendly solutions. Zeolites are best known for their ability to absorb pollutants and contaminants which makes them an attractive option for environmental applications.
- Advancement in technology: Technological advancements contain the development of more efficient and cost-effective methods for the formation of zeolites. This can help to lower production costs and make zeolites more accessible to a wider range of industries.
- Government regulations: Governments across the world are growingly regulating industries to overcome emissions and protect the environment. Zeolites are a needful tool for meeting these regulations which increases the demand for zeolites in certain industries.
- Rising Construction Industry: Zeolites are used in the construction industry as a binder and an additive to improve the properties of concrete. The demand for zeolites in this sector is increasing due to the growing construction industry across the world.
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Top Trends in Zeolite Market
Laundry detergents include various substances such as surfactants, builders, bleaching agents, fillers, enzymes, and other additives. Zeolite is an artificial builder used in phosphate-free detergents. Molecular sieves are a substitute for phosphate detergent builders therefore the demand is increasing around the world. The rising demand for natural zeolites due to their low cost, eco-friendliness, and high performance in several applications is the key trend in the market.
Market Growth
The zeolite market has seen sustainable growth in past years and this can be expected to continue in the future. The growing demand for zeolites in several functions such as water treatment, petrochemical refining, and catalysis. The rising concern about environmental issues drives the growth of the zeolite market. Technological advances led to more efficient and cost-effective production methods, rising government regulations on industries, and the growing construction industry are the main drivers of market growth. The Asia Pacific region is anticipated to be the largest market for zeolites due to rapid industrialization and urbanization.
Regional Analysis
Asia Pacific holds the largest market share of 30% and is predicted to be the most dominant region in the global zeolite market with a projected CAGR of 5.2% during the forecast period. The region attributed steady growth owing to rapid industrialization & urbanization in countries such as China, India, and Japan. The region led to huge consumption of petroleum products such as petrol and diesel which results in to increase in the demand for fluid catalytic cracking (FCC) catalysts and automobiles. North America attributed the higher growth due to the excessive demand for zeolites in the oil and gas industry along with the rising usage of zeolites in the manufacturing of detergents, catalysts, and construction materials.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | US$ 8.5 billion |
| Market Size (2032) | US$ 12.7 billion |
| CAGR (from 2023 to 2032) | 4.2% |
| Asia Pacific Revenue Share | 30% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The construction industry is the main driving sector for the zeolite market owing to the growing need for sustainable construction materials. Zeolites are used as a substitute for traditional cement and concrete mixture due to their improved strength, durability, and reduced environmental impact. It is widely used in manufacturing lightweight concrete. It improves the concrete binding for longer duration & avoids crack formation. High infrastructure expenditure, rapid industrialization, and increasing government investment in new ventures are the factors driving the construction sector. The rapid growth in the construction industry and the growing demand for lightweight concrete will propel the zeolites market.
Market Restraints
Zeolites are mined from specific geological formations and the cost of extraction & processing is high. Also, transportation costs can increase the total expenditure of using zeolites in many applications. Another factor is the availability of alternatives for zeolites such as synthetic materials or chemical compounds like enzymes and other natural minerals. The use of these substitutes can hinder the demand for zeolites in certain applications. Environmental regulations and the potential for adverse environmental impacts from zeolite mining and processing restrict the potential growth.
Market Opportunities
The rising demand for sustainable and eco-friendly construction materials is driving the growth of the zeolites market in the construction industry. Zeolites are also used in the healthcare industry for drug delivery and wound healing applications which is a growing market. The increasing need to improve soil quality and crop yields propels the growth of the zeolites market in the agricultural sector. The rising demand for clean & safe drinking water and the requirement for efficient wastewater treatment solutions drive the growth of the zeolites market in the water treatment sector. Whereas, Volatile Organic Compounds (VOCs) are derivatives of petrochemical reactions that are dangerous to health & the environment causing complexity in breathing and damage to the central nervous system. Zeolites comprise functions such as non-flammability, thermal stability, and hydrophobicity which makes them effective adsorbents for the exclusion of VOCs.
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Report Segmentation of the Zeolite Market
Type Insight
The zeolite market is divided into natural and synthetic. Of these types, synthetic is the most lucrative segment within this global zeolite market with an expected CAGR of 4.6%. By 2022, the total revenue share of synthetic zeolite will reach 87%. The application of synthetic zeolites in the oil and gas industry especially in catalytic cracking is a major driver of market growth. They are also used in detergents and water treatment functions to eliminate impurities and improve the efficiency of the cleaning process. However, the natural segment dominates the global zeolite market in terms of volume due to its low cost. The construction industry is the main sector for natural zeolites which are used in the production of construction materials such as cement, dimension stone, and lightweight aggregate.
Application Insight
Based on application, the market can be divided into catalysts, adsorbents, detergent builders, cement, animal feed, and other applications. Catalysts held the largest market share of 47% in the global zeolite market in 2022 and are projected to be its most lucrative segment with a CAGR of 5.4% through 2022. Zeolites are highly used as catalysts in the petrochemical industry for the production of gasoline and other fuels. They are used in fluid catalytic cracking (FCC) procedures to break down large hydrocarbon molecules into small parts which are later used as fuels. However, the detergent builders segment holds the largest application part in terms of revenue. Synthetic zeolites are used in detergents and water treatment applications to overcome impurities and enhance the efficiency of the cleaning process.
Function Insight
Based on function, the market is segmented into ion exchange, molecular sieve, and catalyst. The catalyst segment accounts for 57% of the global zeolite market with an expected compound annual growth rate (CAGR) of 4.6% by 2022. Due to their unique structure and surface properties zeolites are used as catalysts in various chemical reactions. They can selectively adsorb reactants and bring them into proximity for efficient and selective chemical reactions. The growing demand for zeolites as catalysts in fluid catalytic cracking (FCC) and hydrocarbon cracking (HC) applications is driving the growth of this segment in the global zeolite market.
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Market Segmentation
Based on Type
- Natural
- Synthetic
Based on Application
- Catalysts
- Adsorbents
- Detergent Builders
- Cement
- Animal Feed
- Other Applications
Based On Function
- Ion-Exchange
- Molecular Sieve
- Catalyst
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
Emerging key players are employing various strategic tactics to expand their businesses into global markets. The global zeolite market has seen huge competition due to the presence of many market players across the world. Most of the market players are looking forward to expanding their market scope & increasing their customer base in the emergent market. The key companies engaged in zeolite-based product manufacturing include Albemarle Corp., BASF SE, Clariant, KMI Zeolite, etc., and R&D strategies adopted by these players to beat the competition and sustain the market growth.
Some of the major players include:
Recent Development of the Zeolite Market
- In August 2022, International Zeolite Corp. released findings from fair investigations of its brand-new manufacturing facility showing that NEREA an innovative advancement in crop science and agricultural technology offered considerable advantages above traditional commercial grow techniques.
- In August 2018, KNT Group Company provided the businesses of the SUBUR Group with close to 1,100 tonnes of adsorbent and molecular sieves from various brands from April to June 2017. All manufacturing facilities had fresh adsorbent installed between May and July 2017 to replace the used adsorbent.
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Recent Development of the Zeolite Market
- In August 2022, International Zeolite Corp. released findings from fair investigations of its brand-new manufacturing facility showing that NEREA an innovative advancement in crop science and agricultural technology offered considerable advantages above traditional commercial grow techniques.
- In August 2018, KNT Group Company provided the businesses of the SUBUR Group with close to 1,100 tonnes of adsorbent and molecular sieves from various brands from April to June 2017. All manufacturing facilities had fresh adsorbent installed between May and July 2017 to replace the used adsorbent.
