Synthetic Zeolite Market – Forecasts and Segments by Technavio

September 7, 2017

LONDON–(BUSINESS WIRE)–#MetalsandMinerals–According to the latest market study released by Technavio,
the global synthetic zeolite market is expected to grow at a CAGR of
more than 4% during the forecast period.

This research report titled ‘Global
Synthetic Zeolite Market 2017-2021’ provides an in-depth analysis of
the market in terms of revenue and emerging market trends. This market
research report also includes up to date analysis and forecasts for
various market segments and all geographical regions.

The global synthetic zeolite market is growing rapidly due to excessive
industrial use and rise in demand from the detergent, petrochemical, and
absorbent industries, which are the major application sectors of the
market. In 2016, the major share of the global synthetic zeolites market
came from the detergent industry, with more than 69% market share. This
dominance of the detergent industry in the global synthetic zeolites
market is due to the rise in the use of detergents in households of
emerging economies, increase in disposable income in developing nations,
and rising environmental and health concerns.

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Technavio’s chemicals
and materials research analysts categorize the global
synthetic zeolite market into the following segments by application.
They are:

Detergent
Catalysts
Absorbents
Others

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The top three revenue-generating application segments of the global
synthetic zeolite market are discussed below:

Detergent

Synthetic zeolites are mainly used in the detergent industry as
detergent builders. Common zeolites used in detergents are Zeolite P, X,
and AY. Regulatory authorities and government agencies have restricted
the use of phosphorus compounds in detergents with respect to
environmental safety. These regulations forced detergent vendors to look
for alternatives, and synthetic zeolites were suitable substitutes due
to their unique properties.

According to Mohd Shakeel Iqbal, a lead metals
and minerals research analyst from Technavio, “The global
detergent market is growing significantly, due to changing washing
habits, change in life style, growing urbanization, increasing
disposable income, and rising demand for industrial and household
detergents. This growing detergent market is increasing the consumption
of synthetic zeolites.”

Catalysts

Synthetic zeolites are largely used as catalysts in the petroleum
industry for the separation of high-quality propellants, cracking,
refining, and chemicals separation processes. Zeolite Y is commonly used
as catalysts. Its unique property of exchanging ions makes it suitable
for the cracking process.

“North America is dominating the market. Vendors in APAC are
increasing their production capacities. The low investment required in
setting up manufacturing units for synthetic zeolites is indirectly
driving the growth of the market in APAC. The demand in the Middle East
and APAC is increasing significantly due to major oil exploration
activities in these regions. The demand in Europe is growing at a slow
pace as the majority of the investments moved to APAC and the Middle
East,” adds Shakeel.

Absorbents

The absorbents segment is estimated to hold almost 12% of the overall
market by the end of the forecast period. Absorbents are largely used
for removing gases and fluids. Synthetic zeolites are good absorbents.
Their unique property of absorbing high quantities of water makes them
suitable for low-temperature applications. The absorption ability of
synthetic zeolites does not diminish at low temperatures in contrast to
other absorbents. This unique absorption ability gives them a favorable
position in absorbents segment.

A significant demand from various applications where synthetic zeolites
are used as absorbents will propel the growth of the global synthetic
zeolite market in the absorbents segment during the forecast period.

The top vendors highlighted by Technavio’s research analysts in this
report are:

Albemarle
BASF
Clariant
Honeywell International
W. R. Grace & Co.

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