Zeolite Market is Expected to Reach US$ 34.5 billion by 2023 with CAGR 2.5%
“Increasing trend towards development of products through bio-based sources are increasing the product demand in the market”.
The Global Zeolite Market size was valued at US$ 34.5 billion by 2023 and is expected to grow with a 2.5% CAGR during the forecast years. The market is witnessing growth due to the growing demand for detergents, rising awareness about hygiene among consumers, and rising refining output. In addition to these, the increasing need for natural products in agriculture and pet litters, and concrete industries is further expected to propel the market growth over the coming years.
From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the Zeolites Market.
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Some of the key players covered in the Zeolites Market report include
As a part of market segmentation, our study exhibits a market analysis on the basis of type, industry application, and geography.
By Product Type
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The market is further growing across the globe due to the growing demand from the water treatment industry and the rising use of zeolite as a refrigeration adsorbent. In addition to these, increasing demand for compact detergents is further expected to accelerate the market growth in the coming years.
Zeolites can be manufactured through various processes that involve the use of raw materials like aluminum, silica, and kaolin. The easy availability of these raw materials is further expected to drive market growth, owing to low fluctuations in raw material supply. However, these raw materials are also used in several other applications including paper, electronics, fabrication, and ceramics. This may hamper the smooth supply of raw materials to manufacture zeolites, owing to the growth of the industries. In addition to this, an increase in the prices of raw materials is further expected to hinder the market growth during the forecast period.
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The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Key insights and Developments in Zeolites Industry:
Impact of COVID-19 on Zeolites Market:
Zeolites Market report analyses the impact of Coronavirus (COVID-19) on the Zeolites industry. Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Zeolites market in 2021
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Zeolites Market Dynamics:
The market is witnessing growth due to increasing water treatment activities for treating wastewater and water purification. This is increasing the demand for the product as an adsorbent. Technological innovations, coupled with low complexity are further helping in enhancing manufacturing processes and are expected to have a positive impact on the market growth.
Moreover, stringent regulations taken for environmental protection by various governments are also propelling the market growth due to zeolites’ ability to reduce water and air pollution. These products are extensively used as catalysts in petroleum refining of products such as diesel, gasoline, and other fuels. However, the presence of enzymes, metals, and other chemical compounds as substitutes for zeolite catalysts are expected to hinder the market growth. In addition to this, the high transportation cost associated with raw materials also acts as a major restraint for the market growth over the coming years. But, increasing petroleum refining and changing lifestyles of people in emerging economies are expected to accelerate the global zeolite growth during the forecast year.
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