USD 14.19 billion
Report ID:
SQMIG15E2414 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
118
|Figures:
77
Zeolite Market size was valued at USD 15.98 Billion in 2023 and is poised to grow from USD 17.99 Billion in 2024 to USD 46.48 Billion by 2032, growing at a CAGR of 12.60% during the forecast period (2025-2032).
The increasing investments in expanding petrochemical manufacturing as well as industry expansion for detergents are considered prominent growth drivers for the global zeolite market. Zeolites are frequently used in the petrochemicals sector as a catalyst for quickening chemical reactions because of their stability, high activity, and selectivity in conversion procedures. Additionally, due to their high capacity for collecting liquid ingredients, they are frequently used in the production of detergents.
The U.S. was the largest zeolite market in North America, and it is projected that this pattern will hold during the projection period. In the upcoming years, it is anticipated that the development of petrochemical facilities, along with rising demand for agricultural products, detergents, animal feed, and water treatment, will increase product consumption in the U.S. The demand for artificial zeolite as a catalyst is anticipated to be facilitated by expanding investment in the U.S. petrochemicals sector.
In addition, Reliance Industries, Limited and the Abu Dhabi National Oil Co. (ADNOC) decided to construct a petrochemical plant in the UAE for USD 2.0 billion. The partnership will result in the creation of a new joint venture at Ta'ziz. Over the projection period, it is anticipated that rising petrochemical investment will increase product demand. However, the introduction of the coronavirus in 2020 had an impact on demand. The petrochemicals business was impacted by the social and travel restrictions that many nations put in place, and several plants had to temporarily shut down. Due to different end-use industry intensities, the petrochemicals demand was erratic across its value chain. The opening months of 2020 saw a short-term influence on the demand for zeolite globally.
US Zeolite Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 14.19 billion
Largest Segment
Hardware
Fastest Growth
Software
Growth Rate
12.60% CAGR
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Global Zeolite Market is segmented by Type, by Function, by Synthetic Application, by Natural Application, by Framework, by Pore Size and by Region. Based on Type, the market is segmented into Natural, Synthetic. Based on Function, the market is segmented into Ion-Exchange, Molecular Sieve, Catalyst. Based on Synthetic Zeolites Application, the market is segmented into Detergents, Absorbent/Desiccant, Catalysts, Others (emission control, medical oxygen). Based on Natural Zeolites Application, the market is segmented into Construction & Building Materials, Animal Feed, Wastewater Treatment, Soil Remediation, Others (Fertilizers, Dyes, and Acid Treatment). Based on Framework, the market is segmented into Linde Type A, Faujasite, MFI. Based on Pore Size, the market is segmented into 3A – 7A, 7A – 10A. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Zeolite Market Analysis by Product
The sector with the highest revenue share in more than 87.0%—was synthetic zeolites. Zeolite has more than 200 known structures, all of which are synthetically produced in a lab. These are artificially created aluminosilicate minerals that have a sponge-like structure and minute holes that make them useful as ultrafine filters or catalysts. They are additionally easily recycled, in addition. These are employed in a number of sectors, including as petrochemicals, filtering water, feed for animals, and others. Petrochemical production is anticipated to rise over the next few years, which will have a favorable impact on product demand because they are used in so many different products, including plastics, detergents, cosmetics, solvents, shampoos and conditioners, lubricants, and others.
Due to their low cost, their natural counterpart leads the market in terms of volume. The primary end-use for natural zeolites is the construction industry, where they are employed in the creation of building materials such dimension stone, lightweight gravel, & pozzolanic cement. It is projected that increasing construction spending after COVID-19 to support the recovery of the economy in various countries will be beneficial for market expansion.
Zeolite Market Analysis by Application
The catalysts section had the highest revenue share—more than 47.0%. Zeolites are crucial in fluid catalytic cracking & hydrocracking because they speed up the reaction rate; as a result, the expansion of refineries is anticipated to boost segment growth. For instance, the Indian Oil Corporation announced in November 2021 that it will be boosting its capacity by 25 million tonnes annually. By 2023–2024, the corporation plans to raise its total refining capacity from 81 to 106 million tonnes annually.
In terms of revenue, the detergent builders’ sector was the second-largest application category in the market. To remove water hardness ions and soften the water-based medium for washing and cleaning purposes, synthetic zeolites are utilized. In recent years, there has been a growing preference in the detergent business for the builder Zeolite-A. Due to the pandemic and people's increased health consciousness, the demand for laundry detergents has increased, which has helped the category grow.
Natural zeolites may absorb around 50% of their weight in liquid without expanding. Due to their great absorption capacity, they are employed in various pet litters as well as for soil remediation. They also work in water treatment procedures where their ion-exchange capacity is essential for the handling of radioactive waste from nuclear reactors, gas cleansing, petroleum production, or treatment of wastewater.
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North America dominated the industry with a market share of around 22.0%. The production of petrochemicals & animal feed has increased, which is what is causing the region's growing product consumption. The region ranked third in the world with a production of 237.2 million tonnes of feed in 2022, a rise of 1% from 2021. Two of the top three producers of animal feed worldwide are the US and Mexico.
The market in Asia Pacific is anticipated to grow quickly as a result of the development of new petrochemical vegetation, water recovery facilities, the demand for laundry detergent, and increased concrete and animal feed production.
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Zeolite Market Drivers
Rising Demand for Catalysts
Increasing Awareness of Water and Air Purification
Zeolite Market Restraints
High Production Cost
Limited Supply of Raw Materials
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There are many players in the market that are very competitive. firms that mine natural zeolite face fierce competition from not only other zeolite mining firms but also businesses that produce replacements like perlite, diatomite, and fuller's earth. In the expanding industry, key competitors are working to broaden their consumer bases and increase their market penetration. One of the primary strategies that many important players have embraced is aggressive R&D. For instance, Metalsearch Limited, an Australian manufacturer of minerals and compounds, has obtained a license from UniQuest, the University of Queensland's technology transfer firm, to create zeolite. The company will benefit from a reduction in manufacturing time and expense thanks to the technology.
Zeolite Market Top Player’s Company Profiles
Zeolite Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global zeolite market analysis, the increasing investments in expanding petrochemical manufacturing as well as industry expansion for detergents are the key growth drivers. Zeolites are frequently used in the petrochemicals sector as a catalyst for quickening chemical reactions because of their stability, high activity, and selectivity in conversion procedures. Additionally, due to their high capacity for collecting liquid ingredients, they are frequently used in the production of detergents. However, Asia Pacific is projected to emerge as the fastest growing region during the forecast period due to the development of new petrochemical vegetation, water recovery facilities, the demand for laundry detergent, and increased concrete and animal feed production.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 14.19 billion |
Market size value in 2031 | USD 41.28 billion |
Growth Rate | 12.60% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Zeolite Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Zeolite Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Zeolite Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Zeolite Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG15E2414
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