According to the latest report by IMARC Group titled, "Zeolite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global zeolite market reached a value of US $ 3.6 Billion in 2018. Looking forward, The market is expected to reach a value of US $ 4.9 Billion by 2024, exhibiting in CAGR of around 5.3% during 2019-2024.
Zeolites are aluminosilicate minerals used as commercial catalysts and adsorbents. These minerals are suitable for use in detergents, petrochemicals, refrigeration, nuclear, and various other end-users as they have a porous structure. They are available in two forms, namely, natural and synthetic zeolites. Natural zeolites are typically used as adsorbent materials in both industrial and other applications. They have more acid resistant to the structure compared to the synthetic class of zeolites. This makes natural zeolites more suitable for use in the agriculture industry as feed additives.
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Zeolites are primarily used in the production of laundry detergents as substitutes for phosphates on account of their water softening properties. Restriction on the usage of phosphates due to environmental concerns has stimulated the demand for zeolites in recent years. This has further been supported by the rising requirement of detergents in the emerging regions, driven by increasing standards of living and hygiene consciousness. Moreover, owing to their stability, cleansing ability and superior activity, zeolites help in the production of high-quality transportation fuels. In addition to this, they are extensively used as catalysts and adsorbents in the oil refining and petrochemical industry which, in turn, has further enhanced the growth of the market.
Market Segmentation:
Breakup by Type
• Natural
• Synthetic
Breakup by Application
• Detergent
• Catalyst
• Adsorbent
• Others
Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The report has also examined the competitive landscape of global zeolite market. Some of the major players in the market are Arkema, BASF, Honeywell International, Tosoh Corporation and Zeochem.
Key highlights of the report:
• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players
Explore full report with table of contents: https://www.imarcgroup.com/zeolite-market
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