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Zeolite Market 2020 Updates Related to Growth and Revenue Changes Created by COVID-19 | Arkema, Honeywell, Hengye Inc., Tosoh Corporation, St. Cloud Mining Company, BASF, etc
Zeolite Market
High Demand from Concrete and Cement Industry to Boost Growth
Natural zeolite is mainly used in the concrete and cement industry. It is also utilized in the production of construction materials as it aids in boosting the durability of cement and concrete composites as well as in enhancing the mechanical strength.
Additionally, it is eco-friendly and cost-effective. Hence, the construction industry prefers to opt for it the most. In Asia Pacific, China’s construction industry consumes approximately 60% of the global molecular sieve production for manufacturing high-quality and light concrete. All these factors are expected to propel the Zeolite Market growth in the coming years.
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Zeolite Market Size, Share & Industry Analysis, By Type (Natural [By Application {Construction & Building Materials, Animal Feed, Wastewater Treatment, Soil Remediation, and Others}], Synthetic [By Application {Detergents, Catalysts, and Adsorbents}]), and Regional Forecast, 2019-2026.
Highlights of the Report
• Key industry developments, namely, new product launches, agreements, contracts, mergers, acquisitions, and strategic collaborations.
• Detailed information about the significant Zeolite Market trends, growth drivers, barriers, opportunities, and challenges.
• Elaborate data about all the possible segments present in the market.
Construction & Building Materials Sub-Segment to Lead Backed by High Demand for Lightweight Concrete
In terms of application, the market is grouped into natural zeolite and synthetic zeolite. The natural zeolite segment contains sub-segments, such as soil remediation, construction & building materials, wastewater treatment, animal feed, and others. Out of these, the animal feed sub-segment had acquired a 28.2% Zeolite Market share in 2018. The construction & building materials sub-segment is anticipated to lead the market throughout the forecast period owing to the rising demand for lightweight concrete. Also, concrete is often used in the construction industry because of its favorable mechanical properties and low price.
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The synthetic zeolite segment consists of sub-segments, namely, absorbents, catalysts, and detergents. The catalysts sub-segment had acquired a 19.4% market share in 2018. The detergent industry has been experiencing a high demand for synthetic molecular sieve on account of good dispersibility and reduced abrasiveness. These factors are suitable for the production of detergents.
List of the most prominent companies operating in the Zeolite Market. They are as follows:
• W. R. Grace & Co.-Conn
• Arkema Group
• Zeotech Corporation
• Honeywell International, Inc.
• Hengye Molecular Sieve Co., Ltd.
• Tosoh Corporation
• St. Cloud Mining
• BASF SE
• Shijiazhuang Jianda High-Tech Chemical Co., Ltd.
• Clariant AG
• KNT Group
• Bear River Zeolite Co.
• Canadian Zeolite Corp.
• Zeochem AG
• Blue Pacific Minerals Ltd.
• Zeolyst International
• Other key market players
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Rising Public Infrastructure Projects to Favor Growth in Asia Pacific
Geographically, the market is segregated into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Amongst these, North America Zeolite Market size USD 724.7 million in 2018. The region is set to showcase a significant growth in the coming years owing to the expansion of the animal feed industry. The FDA has also implemented stringent rules on the usage of the product. It is accompanied by the efforts of industry giants to broaden their animal feed business to reduce intestinal diseases of animals, decrease mortality rates, and increase animal productivity.
Asia Pacific, on the other hand, is projected to acquire the highest Zeolite Market revenue during the forthcoming years stoked by the increasing public infrastructure projects in the region. Besides, in emerging countries, such as South Korea, India, and China, the infrastructure expenditure is surging. South Korea is anticipated to grow throughout the forecast period because of the rising government expenditure in the commercial and industrial projects, as well as in public infrastructure.
BASF Launches Luminate: The New Generation of FCC Catalysts
August 2018: BASF SE, a chemical company, headquartered in Germany, announced the launch of its next-generation of Fluid Catalytic Cracking (FCC) catalysts. It is called Luminate and it is meant for gasoil refiners. The Luminate catalyst is molded in such a way that it would be able to improve coke selectivity and offer superior conversion to aid refineries in increasing their profitability.
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