Zeolites Market worth $14.1 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 8, 2021 /PRNewswire/ -- According to the new market research report "Zeolites Market by Type (Natural, Synthetic), Function (Ion-Exchange, Catalyst, Molecular Sieve), Synthetic Zeolites Application (Detergents, Absorbent, Catalysts), Natural Zeolites Application, and Region", published by MarketsandMarkets™, the global Zeolites Market size is estimated to be USD 12.1 billion in 2021 and is projected to reach USD 14.1 billion by 2026, at a CAGR of 3.1% between 2021 and 2026, owing to an increase in demand of zeolites in detergent industry.
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By type, synthetic zeolite is the fastest-growing segment during the forecast period of 2021 to 2026.
Growing demand for synthetic zeolites in detergent industry is aiding to the growth of this segment. Synthetic zeolites are synthesized in laboratories using raw materials containing silica and alumina as the main constituents. Other raw materials used to synthesize zeolites include clay, fly ash, rice husk ash, and natural zeolites, amongst others.
By function, the molecular sieve segment is the fastest-growing market during the forecast period.
Zeolites can be used as molecular sieves by mixing the powdered form of zeolites with binders and subjecting the mixture to high pressure to form molecular sieves. Molecular sieves have a microporous structure and, hence, can sieve molecules as well as selectively absorb or separate certain substances. These sieves are widely used in drying, separation, and adsorption applications. Molecular sieves are widely used in drying applications to remove moisture from solvents and produce anhydrous solvents. Molecular sieves are widely used in insulating glass, package protection, pollution & VOC (Volatile Organic Compounds) control, medical, natural gas dehydration, carbon dioxide removal, drying, and hydrogen purification applications.
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Asia Pacific is the fastest-growing region in the Zeolites Market.
Asia Pacific dominated the global Zeolites Market in 2020. It is majorly due to the increase in demand for zeolites from major countries such as China, Japan, and India. China is the largest market for Zeolites Market in Asia Pacific. Surging demand for transportation fuels is driving the market for refinery catalysts in the Asia Pacific region.
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