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Aluminosilicates Market Projected to Garner Significant Revenues by 2024

Aluminosilicates Market Projected to Garner Significant

Aluminosilicates Market: Drivers and Challenges

Growing petrochemical industry across the world is expected to drive the market for aluminosilicates. These are used as catalyst in petrochemical industry processes such as cracking and hydrocracking. Aluminosilicates are used in reactor and regenerator as well to improve the efficiency of cracking process and extraction. Demand for crude oil across the globe is increasing due to energy requirements for different applications, which in turn expected to drive the aluminosilicates market growth. In addition, the growing demand from laundry and general detergents industry is expected to boost the aluminosilicates market growth. It is the largest application of the aluminosilicates, however it is expected to grow at moderate pace. Furthermore, growing demand from medical and pharmaceutical end user industry is expected to fuel the market growth. Research and developments in the field biomedical applications are driving the aluminoslicate market.

However, harmful effects of the aluminisilicates are expected to hamper the market growth. High processing cost to produce pure form of aluminisilicates is also expected to inhibit market growth. Aluminosilicates are obtained from mines and due to decrease in mining activities across the globe; supply of raw material is expected to be major concern for the players in the market.

Research & developments in the field of crystallography and biomedical is expected to open up new opportunities for the players in the market. New applications development is expected to provide immense opportunities for the players in the market.

Aluminosilicates Market: Regional Overview

Asia Pacific was the largest market in terms of consumption and production. Growing demand from petrochemical and detergents industry is expected to drive the market for aluminosilicates in the region. To scavenge the crude oil reserves in China, exploration and drilling activities has been increased in recent years, which in turn expected to drive the market growth for aluminosilicates. Asia Pacific is expected to grow at faster pace in the near future driven by China. Asia Pacific was followed by Europe in terms of consumption. Medical and pharmaceutical end user industry growth is expected to fuel the demand for aluminosilicates in the region. Per capita expenditure is continuously rising in this region which is contributing to the revenue of this market. North America was the third largest market for aluminosilicates. Owing to increased exploration activities and increase in shale gas rigs across the U.S., the demand for aluminosilicates is expected to increase.

Aluminosilicates Market: Key Players

Global aluminosilicates market is highly fragmented and dominated by regional players. Major players compete based on their pricing strategies. Moreover, owing to increasing demand for customized products, players also have to compete on the research and development strategies. Therefore industry is characterized by high degree of competition that is expected to remain same for the forecast period.

Key players in aluminosilicates market include British Glass, A C Technologies, Associated Ceramics & Technology, Inc., Saunders Foundry Supply Inc., M & M Glassblowing Co. Inc., Minco Inc., Shanghai Jiuzhou Chemicals Co., Ltd, AB Holding Ltd. among others.

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