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Global Specialty Zeolites Market: Accelerated Construction and Infrastructure Initiatives; High Demand in Paints and Coatings to Provide Impetus, says TMR
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The TMR report predicts that the worldwide specialty zeolites will reach US$53.4 mn in terms of market revenue, by 2024. Between the forecast duration of 2016 to 2024, the market is foretold to exhibit a steady CAGR of 3.2%, while the market was evaluated to stand at US41.3 mn in 2016. Geographically, Asia is likely to emerge as the fastest growing region in the global market over the forecast period, on account of the rising urbanization and government initiatives to improve infrastructure.
Elevated Demand of Coatings and Paints to Raise Segment Popularity
Based on end use, the worldwide specialty zeolites market was dominated by the segment of paints and coatings in 2015, trailed by the construction materials and plastics segment. The coating and paints business has seen a surge in the utilization of specialized zeolites as of late, because of the usage of stringent government controls committed to taking out unpredictable mixes in paints and coatings. Specialty zeolites can be utilized to make lower density blocks for ornamental and construction purposes. The usage of energy-efficient materials in construction has witnessed growth in the recent years. These specialty zeolites are set to offer considerable chances of growth and development of new development materials. Moreover, they are utilized in developing efficient and low density concrete.
Geographically, Europe is prognosticated to hold the highest market share revenue, owing to its dominance over the previous years. Asia Pacific is expected to witness accelerated growth in the market. The region owes its increment to the considerable advances in infrastructure in the burgeoning economies of China and India.
Market to Witness Opportunities on Account of Increasing Construction Activities
The international specialty zeolites market is prognosticated to witness high potential of opportunities due to rising activities of infrastructure development and commercial construction developing regions. The surge in construction over various parts of the world over is contributing towards business development, exceptionally in emerging economies. The demand of specialty zeolites worldwide will uplift due to infrastructural advances alongside consent for Foreign Direct Investment (FDI) in the construction industry, which will emphatically support the product demand over non-residential as well as residential projects by virtue of efficient government regulations, policies, duties and taxes levied.
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The significant application of the specialty zeolites market revenue are coatings and paints, construction materials and personal grooming industry. It is utilized to make development materials that fulfill prerequisites of green structures and energy efficient buildings. Moreover, specialty zeolites are utilized as a part of efficient and light-weight concrete utilized in construction. The rising number of government activities towards initiating green infrastructure is expected to further aid the market, in this way boosting the specialty zeolites market advance by 2024.
The data and information presented in this review is based on a TMR report, title, “Specialty Zeolites Market (End User - Plastics, Paints and Coatings, Construction Materials, and Personal Care) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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