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The global zeolite market size is estimated to display strong growth by reaching USD 8.55 billion by 2030. Fortune Business Insights™ in its report titled “Zeolite Market Size, Share & COVID-19 Impact Analysis, By Type (Natural [By Application {Construction & Building Materials, Animal Feed, Wastewater Treatment, Soil Remediation, and Others}], Synthetic [By Application {Detergents, Catalysts, and Adsorbents}]), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 6.14 billion and is expected to reach USD 6.39 billion in 2023. The market is expected to witness a strong CAGR of 4.2% during 2023-2030. Zeolite is made from alumina and silica and has different dimensional channels and pores, which are responsible for its chemical and physical properties. Increasing demand for phosphate-free detergents from the end-users is becoming one of the trends for the market. The market is gaining momentum in detergent applications due to its several environmental, economic, and performance benefits.
In June 2019, W. R. Grace & Co. acquired a stake in Rive Technology, Inc. and its molecular highway zeolite technology. This acquisition is set to bring the innovation to W. R. Grace & Co.’s capabilities and help to expand its production capacity.
Pandemic Affected Various Manufacturing Sector and Capacities in Various End-Use Industry Verticals
The COVID-19 pandemic led to disruptions in the manufacturing sector and capacities in various end-use industry verticals such as construction, petroleum, and detergent. The detergents industry experienced a decline due to shortage of workforce impacting the overall production capacity. However, increasing awareness regarding the hygiene and health, shift in the retail business, and rise in the disposable incomes supported the market growth.
Increasing Number of Hairdressers and Beauty Parlors to Aid Market Growth
Rising demand for phosphate-free detergents is predicted to drive the zeolite market growth. Laundry detergents have six substances such as surfactants, bleaching agents, builders, fillers, enzymes, and other minor additives. Furthermore, the market is gaining momentum in detergent applications owing to the product’s several environmental, economic, and performance benefits. These minerals are non-toxic to humans and aquatic fauna and produce less poisonous waste by-products when mined from bauxite. Competition between detergent manufacturers leads them to adopt lower-priced raw materials and production processes.
However, alternatives of the products are set to hamper the market growth. The presence of chemical compounds, such as enzymes and metals, as an alternative to molecular sieves catalyst will hinder market growth.
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https://www.fortunebusinessinsights.com/industry-reports/zeolite-market-101921
Key Market Players Established a Strong Regional Presence, Robust Distribution Channels, and Varied Product Offerings
Honeywell International, Arkema, W. R. Grace & Co., and BASF SE have strong presence in North America and Europe. SYLOBEAD, CRYOSIV, PHONOSORB, and SYLOSIV are some of the key companies operating in the market. BASF has a strong presence in Europe and manufactures specialty and synthetic zeolites. The company has over 30 manufacturing facilities around the globe with products, which are extensively used as environmental and process catalysts. Similarly, the other players have established a strong regional presence, robust distribution channels, and varied product offerings.
Notable Industry Development
List of Key Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 4.2% from 2023 to 2030 |
Unit | Value (USD Billion); Volume (Million Ton) |
Segmentation | By Type, Application, and Geography |
By Type |
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By Application |
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By Geography |
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