Delhi, NCR, Dec. 21, 2021 (GLOBE NEWSWIRE) — The global zeolite market is growing at a high CAGR owing to the extensive application of zeolites in catalysts and detergents. Additionally, the growing applications od zeolites in various sectors like agriculture, construction, automotive, etc. also drives its market growth….
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global zeolite market was worth USD 11.8 billion in 2020. According to the study, the market is estimated to grow at a CAGR of 3.3%, earning revenue of around USD 14.7 billion by the end of 2027. There is a growing demand for zeolite due to its increasing application in various sectors, such as agriculture, construction, petrochemicals, etc., as well as the increasing penetration of synthetic Zeolite in detergent formulations. Moreover, governments around the world have implemented strict regulations regarding the disposal of waste caused by detergents and other chemicals, which significantly contribute to water pollution. Zeolites are used as cation exchangers to combat water pollution, which in turn is driving its market growth.
Extensive application in catalysts is driving the global zeolite market growth
Catalysts are an essential part of any chemical reaction and can significantly affect the yield of any product. Zeolites have found extensive use as catalysts in the chemical and petrochemical industry in recent years owing to their diversified range of properties. Zeolites can promote several types of reactions including cracking, isomerization, and hydrocarbon synthesis. Additionally, zeolites can be used for both acid-base and metal-induced reactions.
According to an article in Springer Link, one of the largest databases of online scientific, technical and medical literature, zeolite’s application in the refining industry boosted the gasoline yield by more than 30%. United States, China, and Japan are some of the leading countries in zeolite catalyst development and have developed various zeolite-based catalysts and reactions over the years. There are a variety of research projects underway to devise new strategies for the application of zeolite in industries. As chemical and petrochemical investments continue to grow at a rapid rate, the demand for zeolites is expected to remain high and drive the global zeolite market during the forecast period.
The growing demand for energy storage systems is expected to present a lucrative opportunity for the growth of the global zeolite market
The demand for energy and energy storage systems is growing steadily around the world and electric companies have started leveraging various innovative technologies such as microgrids for energy storage. Investing in smarter energy grids will help deliver energy to customers reliably and safely. Solid-state Lithium-ion(Li-ion) batteries are considered as a next-generation solution for energy storage; however, the conventional solid-state electrolytes are not suitable to be used in these batteries due to the instability of lithium metal in them.
An integrated solid-state Li–air battery that contains an ultrathin, high-ion-conductive lithium-ion-exchanged zeolite X (LiX) membrane as the sole solid electrolyte is an innovative solution for the problem. This battery has a capacity of 12,020 milliamp hours per gram of carbon nanotubes. Moreover, these batteries have a cycle life of 149 cycles at a current density of 500 milliamps per gram and at a capacity of 1,000 milliamp hours per gram, which is far greater than the cycle life of lithium aluminum germanium phosphate (12 cycles) and organic electrolytes (102 cycles). Therefore, the growing demand for energy storage systems and superior properties of lithium-ion zeolite batteries are expected to present lucrative growth opportunities for the global zeolite market during the forecast period.
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Global Zeolite Market – By Application
Based on applications, the global zeolite market is segmented into adsorbents, catalysts, detergents, and other applications. Among these, the detergents segment accounts for the largest market share in 2020 and dominated the market owing to its water softening properties. Zeolites can easily remove Calcium+2 and Magnesium+2 from the water and release Sodium + ions into the water. Zeolites are also an environment-friendly substitute for Sodium Tri-Polyphosphate (STPP), which is an environmental hazard. The growing emphasis on environment-friendly products is expected to create a growing demand for zeolite from the detergent industry in the coming years and contribute to the growth of the global zeolite market.
Global Zeolite Market – Regional Insights
The report by BlueWeave Consulting analyzes the global zeolite market for five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The Asia-Pacific region held the largest share of the global zeolite market in 2020 due to a large number of key players operating there. In addition, the growing energy demand in the region, along with the growing electric vehicle industry, are both driving the demand for zeolites. Moreover, the large petrochemical & refining industry in the region as well as the presence of key players in China & Japan have contributed to the dominance of the region in the global zeolite market in 2020.
Impact of COVID-19 on Global Zeolite Market
Globally, COVID-19 affected all industries as countries across the world had to impose lockdowns, and consequently, trade was suspended. Zeolite manufacturers also had to reduce or completely shut down their operations due to difficulties obtaining raw materials, reduced demand, labor shortages, and cash flow problems. In addition, issues in the supply chain negatively affected the market in 2020. Also, the recovery of the market towards the end of 2020 was halted by the emergence of the more severe second wave of the COVID-19.
The booming sales of electric vehicles and growing energy demand are expected to support the recovery of the global zeolite market during the forecast period. Many countries in Europe and China are currently facing an energy crisis, and many oil & gas companies have announced major investments in conventional and unconventional energy sources for the next few years. All of these factors, combined with increasing vaccination rates and the reopening of the markets, are expected to support the growth of the zeolite market during the forecast period. However, the emergence of the omicron variant of the COVID-19 may once again affect the market’s recovery.
Please visit press release of global zeolite market: https://www.blueweaveconsulting.com/press-release/global-zeolite-market-is-forecast-to-grow-at-the-cagr-of-7-1-in-the-forecast-period
Global Zeolite Market – Competitive Landscape
The leading players in the global zeolite market are Arkema Group, Zeomex, BASF SE, Clariant, ZEOCEM, a. s., Honeywell International Inc., W. R. Grace & Co., Interra Global, Tosoh Corporation, KNT Group, SHOWA DENKO KK, Zeolyst International, Inc., Teague Mineral Products, Albemarle Corporation, Gruppo Apostolico e Tanagro, Blue Pacific Minerals, Cooperative La Minera Ltda, Rota Mining Corporation, Huiying Chemical Industry Co., Ltd., and other prominent players.
The players in the market compete with each-others in terms of products launches, integration of new technology, mergers & acquisitions, collaboration with other players and organizations. Furthermore, the companies operating in the fuel cell market are taking measures to commercialize the technology to capture more market share.
In November 2021, Zeotech announced the successful completion of its first bench-scale continuous closed-loop circuit. It utilized kaolin feedstock to produce pure Linde type A synthetic zeolite product. These zeolites are used as molecular sieves with environmentally friendly applications and the company claims that the latest development is a significant step in progressing its dual-feed program.
In October 2021, International Zeolite Corporation announced that it has partnered with Niagara College’s Research & Innovation (R&I) division to validate disruptive commercial agricultural products. International Zeolite Corp., is an international marketer and supplier of natural zeolite and zeolite-infused products for environmental, livestock and agriculture industries.
Scope of the Report
|Years Considered||Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
|Facts Covered||Revenue in USD Billion|
|Market Coverage||U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia|
|Product Service/Segmentation||By Product Type, By Application, By End-User, By Region|
|Key Players||Arkema Group, Zeomex, BASF SE, Clariant, ZEOCEM, a. s., Honeywell International Inc., W. R. Grace & Co., Interra Global, Tosoh Corporation, KNT Group, SHOWA DENKO KK, Zeolyst International, Inc., Teague Mineral Products, Albemarle Corporation, Gruppo Apostolico e Tanagro, Blue Pacific Minerals, Cooperative La Minera Ltda, Rota Mining Corporation, Huiying Chemical Industry Co., Ltd., and other prominent players.|
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global zeolite market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global zeolite market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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