LONDON, July 21, 2016 /PRNewswire/ -- The global zeolite market is expected to reach USD 33.80billion by 2022, according to a new report by Grand View Research, Inc. Increasing refinery output at a global level is expected to be a primary factor for product growth over the forecast period.
Rising need for non-toxic and hydrophilic adsorbents for waste water treatment and water purification is expected to propel product demand. Furthermore, increasing consumption for gas separation is expected to fuel growth over the forecast period.
Abundant availability of raw materials is expected to be a key driver for zeolite market growth. The raw materials are also used in a host of other applications including paper, electronics, fabrication, and ceramics. This may result in hampering raw material supply for zeolite manufacturing owing to the expansion of the aforementioned industries.
Growing demand for petroleum and petrochemical is expected to result in increased use of catalysts as an important compound required in synthesis. Thus, expansion of the oil & gas sector is expected to result in high catalyst demand which in turn will have a positive impact on the market over the forecast period.
Further key findings from the report suggest:
Synthetic zeolite are expected to grow at a CAGR of 2.6% in terms of revenue from 2015 to 2022. Emergence of silver infused materials as an antimicrobial agent is expected to open new opportunities for growth in the near future.
Detergent builders were the largest application segment and demand was estimated at over 3,000 kilo tons in 2014 owing to their extensive use as binders in detergents. Growing need for detergents on account of rising consumer awareness regarding hygiene is expected to augment industry growth.
Catalysts are expected to witness growth at a CAGR over 1.5% in terms of volume from 2015 to 2022 owing to oil & gas industry expansion. In addition, growing need for high performance catalysts yielding higher output is expected to drive growth over the next seven years.
Europe was the largest market accounting for over 30.0% of global volume share in 2014. Regulatory framework towards restriction of GHG emissions coupled with robust manufacturing base of refrigerants and detergents in Germany, France, Netherlands and Belgium is expected to fuel demand over the next seven years.
Asia Pacific is expected to witness growth at a CAGR over 3.0% in terms of revenue from 2015 to 2022. Growing need for refrigerants and detergents coupled with increasing product utilization in advanced processing methods in nuclear industry for the removal of nuclear waste is expected to have a positive impact over the forecast period.
Global industry is characterized by integration across raw materials and manufacturing stages of the value chain. Companies including Arkema, Union Showa K K, and Chemiewerk Bad Köstritz manufacture raw materials such as silica and aluminum, which are used in the production of zeolite. In May 2007, Arkema commenced commercial production of Siliporite at its Inowroclaw plant in Poland.
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