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Specialty Zeolites Market Analysis Report, Regional Outlook 2016-2024
The product finds applications in the cosmetic industry as an essential ingredient in makeup, skin care and bath products. Rise in disposable income of people across the globe along with improving consumer spending pattern is likely to drive the personal care industry and eventually raising the product demand across the globe.
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The manufacturing process of product is highly complex, which makes it more expensive than other forms of zeolites. This high product cost is a hurdle in the specialty zeolites market growth.
The major end-users of specialty zeolites market size are plastics, paints & coatings, construction material and personal care industry. The product is used to make construction materials that satisfy requirements of energy efficient and green buildings. It is also used in preparation of high-performing light-weight concrete used for construction activities. Increasing government initiatives towards promoting energy efficient or green buildings will subsequently boost the product demand, thereby boosting the specialty zeolites market size by 2024.
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Asia Pacific countries possess high potential growth owing to the robust economic growth, infrastructural boom and rapid industrialization & urbanization. China is investing heavily in infrastructural development mostly in construction of healthcare centers and commercial institutions. India is likely to show substantial growth in construction sector, surpassing the demand from China, which is going to boost the regional specialty zeolites market size by 2024.
Key specialty zeolites market share contributors are Honeywell UOP, Tosoh Corporation, Zeochem AG, BASF SE, Arkema Group, Clariant, Albermarle Corporation, Zeolyst International and W. R Grace & Company. These major players in the industry has presence across multiple stages of the industry ecosystem, which offers them competitive advantage in the business.
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