The zeolites market registered a CAGR of ~2% during the period 2014 to 2018.
[ClickPress, Mon Sep 02 2019] In order to dissert the market scenario prevailing across the zeolites market sector, FactMR has evenly presented a comprehensive analysis report on zeolites market to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the zeolites market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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Zeolites Market in Numbers:
Zeolites Market: Competitive Analysis
- 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.
According to FactMR’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.
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.
Zeolites Market - Key Factors Impeding Growth
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Synthetic Zeolites Remain Preferred Category
- 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.
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.
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