Zeolites Market: Exploring the Rising Demand, Trends, Drivers and Diverse Applications
Zeolites are naturally occurring or synthetically produced minerals with a unique porous structure. They possess molecular sieving and ion exchange properties, making them valuable for various applications. Zeolites find use in industries such as petrochemicals, detergents, water purification, and agriculture due to their adsorption and catalytic capabilities. The widespread interest in sustainable and eco-friendly solutions further drives the demand for zeolites in diverse sectors, leading to their growing importance in the global market.
The global zeolites market size is estimated to be USD 12.1 billion in 2021 and is projected to reach USD 14.1 billion by 2026, at a CAGR of 3.1% between 2021 and 2026, owing to an increase in demand of zeolites in the detergent industry. The construction & building materials segment is the biggest application for natural zeolites. The rising demand for lightweight concrete material in the construction industry is expected to drive the use of natural zeolites.’
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Due to increased demand for zeolites from various end-use industries such as chemicals and water treatment, the Asia Pacific region is the fastest-growing region in the zeolites market. Increased investment in the development of new zeolite products, as well as increased research and development activities, are also taking place in the region. Furthermore, the growing demand for high-performance zeolites in the Asia Pacific region has fueled the zeolites market. Furthermore, the availability of raw materials, as well as the presence of several leading manufacturers, is driving the growth of the Asia Pacific zeolites market.
The key market players include Albemarle Corporation (US), BASF SE (Germany), Honeywell International Inc. (US), Clariant (Switzerland), W.R. Grace & Co. (US), TOSOH Corporation (Japan), Union Showa KK, (Japan), Zeochem AG (Switzerland), KNT Group (Russia), Arkema (France), Zeolyst International (US), Huiying Chemical Industry(Xiamen) Co., Ltd. (China), Chemiewerk Bad Köstritz GmbH (Germany), NALCO India (India), and PQ (US). These players have adopted product launches, agreements, expansions, collaborations, acquisitions, divestments, and partnerships as their growth strategies.
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BASF SE is among the leading manufacturers in the zeolites market. The company is one of the major German manufacturers and marketers of chemicals in the world. In July 2020, BASF SE launched Altrium, a Fluid Catalytic Cracking (FCC) catalyst with Advanced Innovative Matrix (AIM) and IZY (Improved Zeolite-Y) technology. Atrium helps to increase transportation fuels yield (gasoline and distillate). This development strengthens the position of the company in the zeolites market.
Another important player in the zeolites market is Albemarle. In June 2018, Albemarle Corporation signed an agreement with Sinopec Catalyst Co. Ltd. (SCC), one of the manufacturers of oil refining and chemical catalysts; and Sinopec Fushun Research Institute of Petroleum and Petrochemicals (FRIPP), a research institute under SINOPEC. The agreement is related to catalytic hydrocracking for the global refining industry. The development enhanced the catalysts business unit of Albemarle and strengthened its position in the zeolites market.
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