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Specialty Zeolites Market growth is driven by the plastics and construction material industry

Author : Ronak Bora | Published Date : 2019-03-18 

The prime driver for the specialty zeolites market size is the paints & coatings industry, which is driven by the plastics and construction material industry. The paints & coatings industry is exhibiting a rise in the product use due to stringent government rules and guidelines in place to eradicate volatile organic compounds (VOCs) usage in paints & coatings. A similar hike in the product demand can be seen in plastics industry. The surge in construction activities across different segments around the world is contributing towards business growth, specially in developing economies including China, Japan, India, Brazil and Mexico.

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. In addition, the personal care business will display positive growth due to increased awareness among consumers about hygiene and other health & beauty related products.

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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. Moreover, the increasing demand for the product substitutes such as silica gel and activated carbon in the paints & coatings and construction materials industry is resulting into fading product demand. Both the substitutes are comparatively inexpensive and are thus preferred over the product. On the other hand, specialty zeolites market share contributors are putting efforts in research & development for discovering some new properties and prospective applications of the product. In addition, high product features such as superior cation exchange ability, crystalline structure and chemical composition will pave new specialty zeolites market growth opportunities by 2024.

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. Across paints & coatings, the product is widely used in odor control, as it helps in adsorbing toxic substances such as ammonia, ammonium and hydrogen sulfide, which makes it useful for the paints & coatings industry.

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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.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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