Synthetic Zeolite Market to be Worth USD 6.7 billion by 2031: Exclusive Report by Transparency Market Research Inc.

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Nov 21, 2023, 10:01 ET

The market for synthetic zeolite is being driven by the fast pace of industrialization and the expansion of several industries, including petrochemicals and household cleaning

WILMINGTON, Del., Nov. 21, 2023 /PRNewswire/ -- The global synthetic zeolite market was estimated at a value of US$ 5.3 billion in 2022. It is anticipated to register a 2.6% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 6.7 billion by 2031.

Important players in the petrochemicals industry are investing more in the manufacturing processes as a result of the growing demand for these products brought on by the world economy's expansion and population boom. For example, by 2030, Oil and Natural Gas Corp (ONGC) intends to invest US$12.0 billion in the manufacture of petrochemicals. This is one of the key elements propelling the market for synthetic zeolites.

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Market dynamics are anticipated to be positively impacted by the global industrialization surge and the rise in industrial applications requiring Fluid Catalytic Cracking (FCC) catalysts. The increasing development of infrastructure is enhancing the use of synthetic molecular sieves across a range of sectors. These include agriculture, petroleum refining, biomedical, environmental cleanup, and chemical manufacture.

Synthetic Zeolite Market Report Scope:

Report Coverage	Details
Forecast Period	2023-2031
Base Year	2022
Size in 2022	US$ 5.3 Bn
Forecast (Value) in 2031	US$ 6.7 Bn
Growth Rate (CAGR)	2.6 %
No. of Pages	256 Pages
Segments covered	Application

Key Findings of the Market Report

In the procedures of purifying and treating water, synthetic zeolite is frequently utilized.
It aids in the purification of drinking water.
Air filtration is another advantage of using synthetic zeolite for the environment.
Sulfur and nitrogen oxides, as well as volatile organic compounds (VOCs), are among the air contaminants that synthetic zeolite helps to eliminate.
The industry is expected to grow as a result of rising household detergent and cleaning agent usage.

Market Trends for Synthetic Zeolites

Based on the synthetic zeolite market analysis, the global landscape was dominated by the detergents application sector. Companies are using alternatives like synthetic zeolite because of strict regulatory laws prohibiting the use of phosphorous in detergents.
Phosphorous produces contamination and pollution of water, which encourages the growth of aquatic algae. The use of zeolite synthesis products for detergents helps prevent aquatic animal risks and lessen water contamination.
With a total trade value of €2.44 billion, cleaning supplies, detergents, and soaps ranked as France's 58th most traded products, in accordance with the Observatory of Economic Complexity (OEC). Between 2021 and 2022, the export of soaps, detergents, and cleaning supplies increased by 17.3% to reach €2.44 billion.

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Global Market for Synthetic Zeolite: Regional Outlook

Various reasons are propelling the growth of the synthetic zeolite market throughout the region. These are:

From 2023 to 2031, Asia Pacific is expected to have the majority of the share. It is projected that major economies like China and India will drive a sizable demand for synthetic zeolite. Petrochemical production is rising in tandem with rising fuel use. The market is growing as a result of this.
Due to the well-established oil and gas industry in the region, North America is also anticipated to see very high growth rates in the near future. An important factor driving the use of synthetic zeolite as a catalyst in manufacturing processes is the rise in shale gas extraction. Natural gas output in North America is increasing due to the use of synthetic zeolite to remove impurities from gas, which is also improving the market's trajectory.

Global Synthetic Zeolite Market: Key Players

The global market offers many chances for growth and innovation, but it is also very competitive. In order to stay ahead of the competition and increase their market presence, companies in the synthetic zeolite industry are implementing a variety of techniques, including the introduction of new products and joint ventures. The following companies are well-known participants in the global synthetic zeolite market:

Zeolyst International Inc.
Albemarle Corporation
Fujian Risheng Chemical Co. Ltd
W.R. Grace & Company
Anten Chemical Co., Ltd.
Chemiewerk Bad Kostritz GmbH
BASF SE
Clariant AG
Honeywell International, Inc.
Huiying Chemical Industry (Quanzhou) Co., Ltd.

Few of key developments by the players in this market are:

Company name	Key Developments
Zeolyst International	- Zeolyst International, a partnership between Ecovyst Inc. as well as Valoregen, stated in July 2023 that it would collaborate on the creation of advanced recycling technologies with its Opal Infinity Zeolites portfolio.
Advanced Refining Technologies LLC (ART)	- In July 2023, Chevron and specialty chemicals pioneer W. R. Grace & Co. (Grace) announced the debut of ENDEAVOR, a hydro processing catalyst solution to create Renewable Diesel (RD) and Sustainable Aviation Fuel (SAF) using 100% renewable sources.

Global Synthetic Zeolite Market Segmentation

Application

Detergents
Adsorbents
Catalysts
Others

Region

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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