Zeolite Market Size to Reach USD 8.55 billion by 2030 | Exhibiting a CAGR of 4.2%
Pune, India, July 12, 2023 (GLOBE NEWSWIRE) — The global zeolite market size was valued at USD 6.14 billion in 2022 and is expected to reach a valuation of USD 6.39 billion in 2023 and is expected to reach USD 8.55 billion by 2030 with a CAGR of 4.2% during the forecast period. Zeolite is a solid crystalline structure that is made from aluminosilicates made up of alumina and silica. Increasing consumer awareness and preference for health and hygiene have augmented the production of high-quality and environment-friendly detergents. Fortune Business Insights™ shares this information in its report titled “Zeolite Market, 2023-2030.”
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List of Key Players Profiled in the Zeolite Market Report:
- Honeywell International Inc. (U.S.)
- Arkema S.A. (France)
- Tosoh Corporation (Japan)
- BASF SE (Germany)
- W. R. Grace & Co. (U.S.)
- Clariant AG (Switzerland)
- Zeochem AG (Switzerland)
- Zeolyst International (U.S.)
- Bear River Zeolite Co. (U.S.)
- Blue Pacific Minerals Ltd (New Zealand)
- St. Cloud Mining (U.S.)
- Zeotech Corporation (U.S.)
- Hengye Inc. (U.S.)
- Shijiazhuang Jianda High-tech Chemical Co., Ltd. (China)
- KNT Group (Russia)
- International Zeolite Corp (Canada)
Report Scope & Segmentation:
|2030 Value Projection||USD 8.55 Billion|
|Market Size in 2022||USD 6.14 Billion|
|No. of Pages||220|
|Report Coverage||Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends|
|Zeolite Market Growth Drivers||0.5 mm to Lead as it Provides Optimum Performance|
|Increasing Demand from Various End-use Industries to Propel the Product Demand|
Browse Detailed Summary of Research Report with TOC:
Synthetic Segment Led Due to Increasing Consumer Awareness of Hygiene
On the basis of type, the market is segmented into natural and synthetic. The synthetic segment holds the largest share due to increasing consumer awareness of hygiene. Synthetic zeolite helps in the production of high-quality, environment-friendly detergent.
Construction & Building Segment Leads Due to Surging Demand for Lightweight Concrete in the Construction Industry
Based on application, the natural segment is segmented into wastewater treatment, soil remediation, animal feed, construction & building materials, and others. The synthetic segment consists of sub-segments such as detergents, absorbents, and catalysts.
The construction & building materials segment dominated due to surging demand for lightweight concrete in the construction industry.
The natural segment has showcased an average growth in the animal feed industry as farmers use animal feed additives for swine, dairy cows, cattle, sheep, and poultry. The synthetic segment has exhibited high demand in the detergents industry owing to its good dispersibility and low abrasiveness.
Geographically, the market is segmented into North America, Asia Pacific, Europe, South America, and the Middle East & Africa.
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Growing Construction Industry to Drive Market Trajectory
The growing construction industry is expected to drive the zeolite market growth. Natural zeolite is used in the production of cement and concrete. It helps in increasing the mechanical strength and durability of cement & concrete composites. Further, it is a low-cost and eco-friendly solution that is preferable in the construction industry, thereby driving market growth.
However, the availability of substitutes and the presence of chemical compounds, such as enzymes and metals, are anticipated to hinder market development.
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Asia Pacific Led the Market Due to Increasing Rate of Spending on Infrastructure
Asia Pacific dominated the zeolite market share due to the increasing rate of spending on infrastructure in China, India, and South Korea. The market reached a valuation of USD 2.16 billion in 2022 due to the rising number of public infrastructure projects.
North America is also expected to have a significant CAGR due to the increasing expansion of animal feed businesses. Strict rules of the FDA regarding the product are set to boost market growth.
BASF has a Strong Presence in Europe and Manufactures Specialty and Synthetic Zeolites
The key market players such as Honeywell International, Arkema, W. R. Grace & Co., and BASF SE have a strong presence in North America and Europe. SYLOBEAD, CRYOSIV, PHONOSORB, and SYLOSIV are some of the key companies operating in the market. BASF has a strong presence in Europe and manufactures specialty and synthetic zeolites.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on Global Zeolite Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
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Key Industry Development
- March 2023- International Zeolite announced the opening of a new production plant in Jordan, Ontario production plant. The company acquired the facility to manufacture nutrient delivery and NEREA products. This facility will add to the company’s production capacity by up to 25 tons per day.
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Refinery Catalyst Market Size, Share, and Regional Forecast, 2021-2028
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