COVID19 Impact on Zeolite Market Size and Growth Forecast till 2026 | Top Players: Arkema, Honeywell, Hengye Inc., Tosoh Corporation, St. Cloud Mining Company, BASF, etc

The global zeolite market size is projected to reach USD 6.06 billion by 2026, exhibiting a CAGR of 4.9% during the forecast period. Exponential growth in construction activities worldwide is expected to surge the product demand in the coming years, states Fortune Business Insights™ in its report, titled “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”. A report published by the Institution of Civil Engineers (ICE) forecasts that the global construction output volume will rise by 85% in the next decade, reaching a value of USD 15.5 trillion by 2030. Zeolite is extensively used in the construction as an additive and natural zeolite is commonly applied in cement production for blending purposes. This material provides the necessary strength to cement and concrete, which makes the structure durable and long-lasting. Thus, accelerated pace of construction projects will augur well for this market in the near future.

The outbreak of the COVID-19 pandemic has triggered an unprecedented global economic downturn. Businesses have been gravely injured, some more than the others. However, the human spirit will overcome these challenges as well. We, at Fortune Business Insights™, aim to equip businesses with a comprehensive impact analysis of the current pandemic on different markets, based on our expertise and experience in market intelligence.

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According to the report, the global market value stood at USD 4.15 billion in 2018. The report also provides the following:

• In-depth study of all market segments;
• Detailed analysis of the market trends, drivers, and roadblocks;
• Exhaustive research into the upcoming regional opportunities for the market; and
• Comprehensive assessment of top market players and their key strategies.

Market Driver

Efficacy of Zeolite in Water Treatment to Stoke Adoption

Zeolite media for water treatment has proven efficacy and high efficiency in wastewater filtration. The effectiveness of water treatment processes is dependent on the pores in the filtration media. Zeolite media have a large number of pores which enables them to not just capture particles between grains, but also absorb them into their pores to trap them. Its high pore density gives zeolite structures greater effective surface area, implying that this material can catch high concentrations of contaminants during the initial filtration process itself. As a result of these properties, zeolite is useful in treating hydrocarbons, oils, heavy metals, bacteria, turbidity, and nitrates & phosphates. Moreover, it can be applied in industrial process water treatment, drinking water treatment, radioactive water treatment, and grey water treatment.

Regional Insights

Asia Pacific to Lead the Pack Supported by Rapid Infrastructure Development

Promising economic growth in Asia Pacific, especially in India, China, and Vietnam, is expected to enable the region to dominate the zeolite market share during the forecast period. This growth can be seen through the lens of rapid development of various infrastructures in these countries, which is skyrocketing the demand for efficient building materials such as zeolite.

In North America, where the market size stood at USD 724.7 million, the market growth is premised on the expanding activities in the animal feed industry. Stringent regulations of the Food and Drug Administration (FDA) on animal health are expected to further propel the regional market. The market size in Europe is set to expand owing to active adoption of advanced wastewater treatment materials and technologies in the region.

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Competitive Landscape

Introduction of Next-Gen Additive Solutions to Intensify Competition

Core competitors in this market are ramping up investment in their research & development activities. The aim behind these increased investments is to engineer novel additive solutions with wide-ranging applications, which in turn will diversify their product portfolio and aid in expanding their footprint in the global market.

Industry Developments:

• May 2020: BASF commercially releases its innovative Fluid Catalytic Cracking (FCC) additive product called ZEAL, developed to elevate production output of light olefins in FCC systems processing gasoil and resid feedstock. The enhanced performance is facilitated by higher content of active zeolite sites on the new FCC.
• May 2018: Switzerland-based Zeochem inaugurated its new plant in Zvornik, Bosnia & Herzegovina, dedicated to the processing of chromatographic gels and zeolite. The company has invested approximately USD 9 million in the facility and intends to strengthen its presence in the country.

List of Players Covered in the Zeolite Market Report:

• Canadian Zeolite Corp
• Shijiazhuang Jianda High-Tech Chemical Co., Ltd
• Zeotech Corporation
• Blue Pacific Minerals Ltd.
• Zeolyst International
• Clariant AG
• BASF SE
• Arkema Group
• KNT Group
• Hengye Molecular Sieve Co., Ltd.
• St. Cloud Mining
• Bear River Zeolite Co.
• Zeochem AG
• Tosoh Corporation
• Honeywell International Inc.

To Gain More Insights into the Market with Detailed Table of Content and Figures: https://www.fortunebusinessinsights.com/industry-reports/zeolite-market-101921

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