Specialty Zeolites Market - Global Industry Analysis 2016 - 2024

Current drivers acting on the global specialty zeolites market include their growing scope of use in the industries of paints and coatings and plastics, where they are used to remove odor and improve adsorption of volatile organic compounds. The paints and coatings industry has always been a key end users of specialty zeolites, along with the construction industry. However, the global specialty zeolites market is being restricted by the growing preference and rate of use of other adsorbents, especially activated carbon and silica gel. This is having a negative impact on the demand for specialty zeolites in the paints and coatings segment. The growth of the plastics industry is likely to be another factor driving the global specialty zeolites market over the coming years.

The global specialty zeolites market was valued at US$40.1 mn in 2015 and is expected to reach US$53.4 mn by the end of 2024, after expanding at a CAGR of 3.2% within a forecast period from 2016 and 2024.

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Europe Dominates Global Specialty Zeolites Market

By geography, the global specialty zeolites market can be segmented into North America, Europe, Asia Pacific, Latin America, and the MEA. Europe accounted for the leading share in the global specialty zeolites market for 2015, followed by Asia Pacific and North America. Asia Pacific is projected to be a high potential region in the global specialty zeolites market during the forecast period, owing to a recovery phase in the global construction industry fueled by the rise in commercial construction and infrastructure activities in key APAC nations, such as China, India, Malaysia, Singapore, and Thailand.

China is investing significantly in infrastructure development, especially in the construction of new healthcare and commercial institutions. India is projected to depict high growth in its construction activities and consequently its demand for specialty zeolites, possibly even greater than China by 2024, due to the growing urban population and increasing government investments in infrastructure development. The specialty zeolites market in the Middle East and Africa is estimated to offer comparatively less growth opportunities due preference for other adsorption products over specialty zeolites. Increase in demand for consumer goods and automobiles across the globe is estimated to boost the paints & coatings and plastics markets. All these factors are projected to drive the specialty zeolites market during the forecast period.

Paints and Coatings Trump Specialty Zeolites Demand

Among the various end users in the global specialty zeolites market, the paints & coatings segment lead the revenue generation charts for 2015, followed by the segments of construction materials and plastics. The paints and coatings industry has seen a surge in the use of specialty zeolites recently, due to the implementation of stringent government regulations dedicated to eliminating volatile organic compounds in paints and coatings. Specialty zeolites can be used to make lightweight blocks for construction and decorative walls. Usage of energy-efficient building materials has increased significantly over the last few years and specialty zeolites can offer significant opportunities to develop new construction materials. They are also used in the construction industry to prepare high performance and lightweight concrete.

Key types of specialty zeolites found commercially include USY (ultra-stable zeolite Y), ZSM-5, and SAPO-34. Minority types of commercially available specialty zeolites include ferrierite and SAPO-11. Very small quantities of specialty zeolites are used for adsorption purposes in paints and coatings, plastics, personal care, and construction materials applications.

Key players in the global specialty zeolites market so far, include Tosoh Corporation, Arkema Group, BASF SE, Clariant, W. R. Grace & Co., Albermarle Corporation, Zeochem AG, Zeolyst International, Eurecat, and Honeywell UOP.

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