Pune - India, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The global zeolite market size was USD 4.12 billion in 2021. The market is projected to grow from USD 4.28 billion in 2022 to USD 5.71 billion by 2029, exhibiting a CAGR of 4.2% during the forecast period.
The zeolite market is a rapidly growing industry with a multitude of applications in various fields such as agriculture, construction, and industrial processes. With its unique chemical and physical properties, zeolites have proven to be an effective solution for a wide range of problems. The market is driven by an increasing demand for sustainable and environmentally friendly products, as well as the growing awareness of the benefits of zeolites. With new advancements in technology and production methods, the zeolite market is expected to continue its growth trajectory in the coming years. Companies operating in this space must keep a close eye on the latest trends and innovations in order to remain competitive in this dynamic market.
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List of Key Players Mentioned in the Report:
- Honeywell International Inc. (U.S.)
- Arkema S.A. (France)
- Tosoh Corporation (Japan)
- BASF SE (Germany)
- W. R. Grace & Co. (U.S.)
- Clariant AG (Switzerland)
- Zeochem AG (Switzerland)
- Zeolyst International (U.S.)
- Bear River Zeolite Co. (U.S.)
- Blue Pacific Minerals Ltd (New Zealand)
- St. Cloud Mining (U.S.)
- Zeotech Corporation (U.S.)
- Hengye Inc. (U.S.)
- Shijiazhuang Jianda High-tech Chemical Co., Ltd. (China)
- KNT Group (Russia)
- International Zeolite Corp (Canada)
Report Scope & Segmentation:
|Forecast CAGR||4.2 %|
|2029 Value Projection||USD 5.71 Billion|
|Zeolite Market Size in 2021||USD 4.12 Billion|
|No. of Pages||200|
|Segments Covered||By Type, End-user and Regional Insights|
|Zeolite Industry Growth Drivers||Rising Demand for the Product in Automotive & Transportation Industry to Surge Market Development|
|Acquisition Strategies by Key Market Players to Set Market Development|
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Synthetic Segment to Generate the Highest Revenue Owing to Usage in Detergent Production
The market is segmented into natural and synthetic on the basis of type. Amongst these, the synthetic segment holds the largest zeolite market share owing to increasing consumer awareness toward hygiene.
Construction & Building Materials Segment to Exhibit a Significant CAGR Due to Rising Demand for Lightweight Concrete
In terms of application, the natural segment is categorized into wastewater treatment, soil remediation, animal feed, construction & building materials, and others. The synthetic segment consists of sub-segments such as detergents, absorbents, and catalysts.
Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
The report presents a holistic study of the global market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report. Step by step, thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the market growth are shared in the report.
Drivers and Restraints:
Growing Construction Industry Will Propel the Zeolite Market Growth
Since it serves to boost the mechanical strength and durability of cement and concrete composites, natural zeolite is widely utilized in the manufacturing of building materials, including cement and concrete. It is widely employed in the production of lightweight concrete. It prevents crack formation and strengthens the concrete harness for a longer time. Additionally, it is a low-cost and environment-friendly solution that is preferred in the construction industry, which is fueling market expansion.
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Asia Pacific to Lead Stoked by Rise in Public Infrastructure Projects
In 2021, the Asia Pacific market had a value of USD 1.44 million. Due to rising infrastructure spending in China, India, and South Korea as well as an increase in the number of public infrastructure projects, this region held the largest market share.
Europe could have significant growth during the forecast timeframe. Most manufacturers are collaborating with various non-profit organizations to encourage the use of their products in commercial and domestic settings.
On the other hand, due to the firms' expansion of their animal feed businesses, North America is anticipated to rise at a substantial CAGR in the global market. Strict FDA guidelines for product use will accelerate market expansion in this area.
Important Business-related Announcements by Key Players to Influence Market Dynamics
Fundamental companies in the market often make crucial announcements regarding some business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, sign contracts with government organizations, and so on.
Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on Global Zeolite Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
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Key Industry Development:
August 2022: International Zeolite Corp. declared that NEREA, a ground-breaking advancement in agricultural technology and crop science, had shown significant advantages over traditional commercial grow techniques in independent studies of its new flagship manufacturing plant.
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Detergent Chemicals Market Size, Share and Regional Forecast, 2021-2028
Water and Wastewater Treatment Market Size, Share and Regional Forecast, 2022-2029
Refinery Catalyst Market Size, Share and Regional Forecast, 2022-2028
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