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Zeolite Global Market Estimated to Surge at a CAGR of 5.4% to Reach $23.32 Billion By 2028 | BASF SE, Arkema Group, Tosoh Corporation, Clariant AG, Zeochem AG
Zeolite Global Market
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According to The Business Research Company's, The zeolite market size has grown strongly in recent years. It will grow from $17.96 billion in 2023 to $18.91 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increasing demand for eco-friendly materials, growth in the agricultural sector, growth in the global pet industry, increasing focus on sustainable agriculture practices, and increasing awareness of zeolite's health benefits.
The zeolite market size is expected to see strong growth in the next few years. It will grow to $23.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to increasing investments in expanding petrochemicals production, rising demand for phosphate-free detergents, rising number of public infrastructure projects, increasing use of zeolite as refrigeration adsorbents, and growing demand in the water treatment industry. Major trends in the forecast period include technological advancements, natural deodorizing agents, zeolite in food packaging, advanced zeolite-based adsorbents, and zeolite-based membranes.
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Market Drivers and Trends:
The growing construction industry is expected to propel the growth of the zeolite market going forward. Construction refers to the process of building or assembling infrastructure and buildings, including residential, commercial, and industrial projects. The construction industry is growing due to increasing urbanization, rising housing and infrastructure demand, and government investment in development projects. Zeolite is required in the construction industry for its lightweight properties, ability to improve concrete strength, enhance durability, and provide thermal insulation, making it an effective mineral additive in building materials. For instance, in September 2024, according to the US Census Bureau, a US-based government agency, construction spending was estimated at a seasonally adjusted annual rate of $2,162.7 billion in July 2024, marking a 6.7% increase (±1.8%) compared to the $2,027.4 billion spent in July 2023. For the first seven months of this year, total construction spending reached $1,237.5 billion, up 8.8% (±1.2%) from the $1,137.4 billion spent during the same period in 2023. Therefore, the growing construction industry is driving the growth of the zeolite market.
Major companies operating in the zeolite market are focusing on the launch of production plants to produce nutrient-infused zeolite. A production plant refers to a facility or building where goods are manufactured or produced in large quantities. For instance, in March 2023, International Zeolite Corp., a Canada-based company that explores, develops, produces, and distributes natural zeolite and zeolite-infused products, launched its first production plant in Jordan, Ontario (Canada), marking a significant milestone in the company's growth. The plant can produce nutrient-infused zeolite through its NEREA technology, which aims to transform agricultural practices by increasing crop size and yield and reducing problematic waste from traditional fertilizer methods. The future expansion of the plant will enable the production of up to 25,000 kilograms of agricultural nutrient growth system products daily.
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Major Key Players of the Market:
BASF SE, Honeywell International Inc., Arkema Group, Tosoh Corporation, Clariant AG, W.R. Grace & Co., Zeochem AG, Zeolyst International, Gordes Zeolite, St. Cloud Mining Company, Zeolite Australia Pty Ltd., KNT Group, Blue Pacific Minerals Ltd., Zeotech Corporation, Ningbo Jiahe New Materials Technology Co. Ltd., Zeo Inc., International Zeolite Corp., Bear River Zeolite Co. Inc., Ida-Ore Zeolite, Teague Mineral Products, Rota Mining Corporation, KMI Zeolite, Shijiazhuang Jianda High-Tech Chemical Co. Ltd
Zeolite Market 2024 Key Insights:
• The zeolite market size is expected to see strong growth in the next few years. It will grow to $23.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Impact Of The Growing Construction Industry On The Zeolite Market
• Expansion Of Production Facilities For Nutrient-Infused Zeolite
• Asia-Pacific was the largest region in the zeolite market in 2023, and is expected to be the fastest-growing region in the forecast period
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