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Zeolite Molecular Sieve Market Size: Demand, Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2024

Author : Rahul Varpe | Published Date : 2019-06-18 

Global Market Insights has added a new report on Zeolite Molecular Sieve Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape Industry in tandem with its competitive terrain. 

Detergent industry expansion due to growing consumer base and increased disposable income across the globe should drive global zeolite molecular sieve market growth. Rising energy consumption along with industrial hazard may fuel product demand. These products are ion exchange builders in detergent production, with high adsorption capacity and chemical stability. Other end uses of zeolite molecular sieve market include natural gas, refining, petrochemical and air drying.

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According to a new research report by Global Market Insights, Inc. Zeolite Molecular Sieve Market size is expected to reach USD 4.4 billion by 2023.

Recycling and recovery of zeolite molecular sieve is easy and incurs less cost. Product also shows higher efficiency and yields fewer impurities leading increased usage by chemical manufacturers.  Zeolite molecular sieve market size from catalyst application was over USD 1.3 billion in 2015 will witness gains at over 4%. They are used in reforming, hydro processing and cracking process in refining industry.

Expansion of oil refining capacities to capture local market share has been a new trend amongst major market players especially in the Asian countries. This step will certainly fuel the demand for zeolite molecular sieves market.

U.S molecular sieve market size may register close to 260 kilo tons by 2023. Market will be fueled by growth of catalyst application. Increasing catalyst and detergent application may drive industry growth and together held more than 70% of the total market in 2015.

MEA zeolite molecular sieve market will be driven by Qatar and should witness CAGR over 2% during the forecast timeframe. Qatar oil and gas industry will witness significant growth during the next few years owing to its increasing export of LPG, crude oil and petroleum products.

Turkey zeolite molecular sieve market size for catalyst applications was over 7 kilo tons in 2015 owing to increased foreign investment from major chemical manufacturers including Socar and Henkel.

Global zeolite molecular sieve market is moderately consolidated with local and international market players. BASF, Interra global Arkema and UOP LLC are key notable companies.  

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 Other industrial participants include Zeochem AG, Tricat, KNT, Zeox, Union Showa, Dalian Haixin, Chemiewerk Bad Kostritz and Yingkou Zhongbao, Grace Catalysts, Anhui Mingmei MinChem.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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