Zeolite Market Size Was USD 4,326.2 Million in 2019 And Is Projected to Reach USD 6,190.0 Million by 2027 | Zeolite Staying Ahead of the Curve: Using Industry Research to Predict Industry Trends

The global zeolite market is set to gain traction from its ever-increasing usage in creating laundry detergents. Zeolite A is extensively utilized to produce phosphate-free detergents owing to its non-toxic nature. Fortune Business Insights™ published this information in a new study, 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, 2020-2027." The study further states that the zeolite market size was USD 4,326.2 million in 2019 and is projected to reach USD 6,190.0 million by 2027, exhibiting a CAGR of 4.7% during the forecast period.

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Drivers & Restraints-

Increasing Usage in the Cement and Concrete Industry to Bolster Growth

Nowadays, natural zeolite is being used more in the production of construction materials, as well as in the cement and concrete industry. This is because it is capable of surging the durability of concrete and cement composites. At the same time, it can enhance mechanical strength. Also, it is eco-friendly and cost-effective which makes it the most preferable mineral in the construction industry. However, the availability of numerous substitutes, such as enzymes and metals may hamper the zeolite market growth in the near future.

Segment-

Animal Feed Sub-segment Held 28.2% Share Fueled by Usage in Additives

Based on application, the market is bifurcated into natural and synthetic. The animal feed sub-segment under the natural zeolite segment held 28.2% in terms of zeolite market share in 2019. This growth is attributable to the rising usage of the mineral as animal feed additives for poultry, swine, sheep, cattle, and dairy cows. On the other hand, the catalysts sub-segment under the synthetic zeolite segment generated 19.3% market share in 2019.

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Regional Analysis-

Rising Number of Public Infrastructure Projects to Augment Growth in Asia Pacific

Geographically, North America procured USD 748.5 million in terms of revenue in 2019. The region is expected to showcase significant growth in the coming years owing to the expansion of the animal feed industry. Asia Pacific is set to generate the highest share in terms of revenue throughout the forthcoming period on account of the increasing number of public infrastructure projects and the rising expenditure in infrastructure development in South Korea, China, and India.

Competitive Landscape-

Key Players Aim to Strengthen Positions by Opening New Plants & Launching Detergents

Majority of the key companies are located in Europe and North America. They are persistently striving to strengthen their positions by launching new laundry detergents equipped with zeolites or are focusing on opening new manufacturing plants to surge productivity. Below are two industry developments:

July 2019: Reckitt Benckiser launched its latest product called Vanish Oxi Action Stain Removal Powder. As per the company, it has 10 times more active oxygen, unlike the other high-quality detergents. It also contains zeolites and enzymes that would help in eliminating several types of complex stains.
May 2018: Zeochem opened its new plant in Zvornik for the processing of chromatographic gels and zeolite. The company invested around USD 9 million for the same. It would strengthen the company's position.
Fortune Business Insights™ lists out the names of all the prominent molecular sieves manufacturers present in the global market. They are as follows:

Honeywell International Inc. (U.S.)
Arkema Group (France)
Tosoh Corporation (Japan)
BASF SE (Germany)
R. Grace & Co.-Conn (U.S.)
Clariant AG (Switzerland)
Zeochem AG (Switzerland)
Zeolyst International (U.S.)
Bear River Zeolite Co. (U.S.)
Blue Pacific Minerals Ltd. (New Zealand)
Cloud Mining (U.S.)
Zeotech Corporation (U.S.)
Hengye Inc. (U.S.)
Shijiazhuang Jianda High-Tech Chemical Co., Ltd. (China)
KNT Group (Russia)
Canadian Zeolite Corp (Canada)
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This release was published on openPR.