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Global Molecular Sieves Market to Grow at 4.7% During 2021-2026, Propelled by Increasing Product Utilization for Refining Crude Oil

According to the latest report by IMARC Group, titled "Molecular Sieves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global molecular sieves market exhibited moderate growth during 2015-2020. Molecular sieves refer to materials that are characterized by small pores of uniform structure and size. These crystalline metal aluminosilicates have a 3-dimensional interconnecting network of silica and alumina tetrahedra. They are widely utilized as absorbents that have the ability to separate fluids (gas and liquids) on the basis of molecular size and polarity. They are commonly known to exhibit superior strength, excellent drying capabilities, and exceptional resistance to contamination. As a result, they are widely utilized for various applications across the oil and gas, water treatment and chemicals sectors.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Molecular Sieves Market Trends:

The global market is primarily driven by the increasing usage of molecular sieves as catalysts in the petroleum and petrochemical industries. They are widely used for refining crude oil into finished petroleum products and providing a higher oil yield. Additionally, these aluminosilicates are also utilized for upgrading refinery streams into high-octane gasoline blending stock, which is expected to provide an impetus to the market growth. The market is further driven by the rising utilization of molecular sieves for separating permanent gases and low-molecular-weight linear and branched-chain hydrocarbons across numerous industry verticals. Moreover, an enhanced focus on sustainable development is also creating a positive outlook for the market as these materials are characterized by a high number of utilization cycles that offer an extended product life. Some of the other factors contributing to the market growth include the rising product utilization in the manufacturing of detergents and the extensive research and development (R&D) pertaining to the use of biocompatible molecular sieves in the healthcare sector. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 4.7% during 2021-2026.

Market Summary:

  • On the basis of the type, the market has been divided into type 3A, type 4A, type 5A, type 13X, type Y, pentacil, and others.
  • Based on the material type, the market has been classified into carbon, clay, porous glass, silica gel, zeolite, and others.
  • On the basis of the application, the market has been categorized into catalyst, adsorbent, and desiccants.
  • Based on the shape, the market has been segmented into pelleted, beaded, and powdered.
  • On the basis of the size, the market has been divided into microporous, mesoporous and microporous.
  • Based on the end use industry, the market has been classified into oil and gas, agricultural, chemical, pharmaceutical, water treatment, construction, and other industries.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Axens, BASF SE, Bear River Zeolite Company (USAC), Caledon Laboratories Limited, CECA (Arkema), Clariant Produkte (Schweiz AG), Honeywell UOP, Interra Global Corporation, KNT Group, Merck & Co., Sorbead India, Tosoh Corporation, and Zeochem AG (Cph Chemie & Papier).

 

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