Press release
Zeolite Molecular Sieve Market 2024 Key Players Arkema, BASF, Tosoh, Interra Global & UOP LLC
Increase in demand for catalysts and detergents should drive zeolite molecular sieve market. Strict regulations pertaining to waste water treatment chemical may drive market growth. Regulatory bodies across the globe are making stringent norms for modern effluents and city over environmental concerns such as ground water carefulness and dead territories in water have resulted into growth of product demand.
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Zeolite molecular sieve are widely used in oil & gas, petrochemicals, waste water treatment, automotive, packaging and paints & coatings industries. Aluminum chloride and phosphochloric acid are not easily disposable and are used as catalyst in these industries. Traditional catalysts are substituted by these products in petroleum and petrochemical industries which may propel product demand.
Zeolite molecular sieve market from detergent applications may surpass USD 1.4 billion by 2023. Regulatory bodies have put ban on phosphate based formulations across many parts of the world as they result into water contamination which will further intensify growth. It is used as ion exchange builder in manufacturing of detergents owing to its chemical stability and high absorption liquid capacity during production process. Rise in demand for detergents on account of increasing consumer awareness regarding health and hygiene may spur the business over the projected period.
Rise in per-capita disposable income and shift in consumer preferences have resulted into major changes in global detergent industry. Low toxicity on exposure and minimized occupational hazards may further stimulate zeolite molecular sieve market growth.
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Catalyst application may witness growth of over 2% by the end of projected timeframe. It is widely used to catalyze alkylation, isomerization and epoxidation and has usage in large scale industrial processes such as fluid catalytic cracking and hydrocracking. It curbs molecules into small spaces, which results into changes in their reactivity and structure. Increasing petroleum and refinery output may enhance product demand during projected period.
Europe, driven by Russia and Turkey zeolite molecular sieve market may exceed USD 1.4 billion by 2023. Stringent regulations pertaining to waste water treatment along with compulsory establishment of sewage and waste water treatment plant across all the residential areas of Turkey may drive regional industrial growth.
Middle East & Africa, led by Qatar zeolite molecular sieve market may witness gains at over 1.2% by the end of forecast timeframe. IEA forecasts natural gas output of Qatar to reach over 175 bcm by 2023. Expansion of LNG business by Qatar will result into increase in demand of zeolite molecular sieve.
Asia Pacific, led by China and India zeolite molecular sieve may surpass USD 1.4 billion by 2023. Increasing surfactant business and growing environmental consciousness mainly in India and China will enhance product demand. Rise in infrastructure expenditure will positively impact lightweight construction material, thereby stimulating regional growth.
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Global zeolite molecular sieve market share is moderately fragmented with prominent players including BASF, Arkema, Grace Catalysts Technologie, Interra Global, Zeox Corporation, Tosoh, and UOP LLC.
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