According to the latest report by IMARC Group, titled "Zeolite Molecular Sieve Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global zeolite molecular sieve market grew at a CAGR of around 5% during 2015-2020. Zeolite molecular sieves are crystalline porous materials with a definitive pore size that are utilized for the cracking of petroleum. It acts as a catalyst in numerous chemical processes that cause certain structural changes during chemical reactions. It appears as small and porous pink-colored beads that are characterized by uniform size and definite structure. Apart from being used in the oil and gas sector, they are widely employed as a key component in the manufacturing of detergents and refrigerants. It is also extensively utilized in waste water treatment applications and for the dehydration of methane, ethanol and cracked gases.
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 Zeolite Molecular Sieve Market Trends:
The global market is majorly driven by considerable growth in the oil and gas sector. With the rising demand for oil and gas processing across the globe, there has been a significant rise in the requirement for high-performance catalysts that yield higher output, which is providing a boost to the sales of zeolite molecular sieve. Moreover, the increasing demand for safe drinking water on the global level has led to the escalating adoption of these sieves for water treatment purposes. They are known to remove hazardous organic materials, including pesticides, herbicides, phenols, polycyclic aromatic hydrocarbons (PAHs), aliphatic and heterocyclic compounds and macro-porous materials, from wastewater in an efficient manner, thereby creating a positive outlook for the market. The market is further driven by the growing awareness regarding the importance of maintaining proper hygiene among the masses. This has resulted in the increased uptake of soaps and detergents, wherein zeolite molecular sieves are widely used as effective binders. Some of the other factors contributing to the market growth include rapid industrialization and the launch of silver-infused sieves with antimicrobial properties. On account of the aforementioned factors, the market is anticipated to witness moderate growth during 2021-2026.
- On the basis of the material, the market has been bifurcated into natural and artificial zeolite.
- Based on the grade, the market has been divided into type 3a, type 4a, type 13x and others.
- On the basis of the application, the market has been categorized into catalyst, adsorbent and desiccants.
- Based on the end use industry, the market has been segmented 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 Arkema Group, BASF SE, CWK Chemiewerk Bad Köstritz GmbH, Honeywell UOP (Honeywell), Interra Global Corporation, KNT Group, Tosoh Corporation, Tricat Group, W. R. Grace & Company and Zeochem AG (Cph Chemie & Papier).
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