Global Zeolite Market is Forecast to Grow at the CAGR of 4.8% in the Forecast Period
Published | 01 January 2022
The global zeolite market is growing at a high CAGR because of the its increasing application in water treatment to provide safe drinking water. Moreover, its application in detergents and fertilizers is also favoring its market growth….
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global zeolite market was worth USD 545.2 Million in the year 2020. According to the study, the market is estimated to grow at a CAGR of 4.8%, earning revenue of around USD 749.9 Million by the end of 2027. Several factors contribute to the significant growth of the global zeolite market, including its increasing use in water treatment to provide clean drinking water. In addition, zeolite is also used in detergents and fertilizers to improve their absorbency and reduce their toxic effects on the environment. Various governments around the world, especially in developed countries, have become more focused on sustainability and have begun regulating the use of fumes and chemicals that can harm human health as well as the environment. Zeolites are considered safe since they are used in sustainable processes, such as the storage of thermal energy. This is anticipated to boost the global zeolite market growth in the forecast period.
Growing Demand for Zeolite in Detergent Industry is Driving the Global Zeolite Market
As a power detergent, zeolites soften water while reducing the effects on the environment. It is commonly used as a green substitute for phosphorus in powdered laundry detergents. Zeolite is also effective in inhibiting the growth of E. coli and other pathogens. Detergents containing zeolites have increased effectiveness, so they can also be used in small quantities. The global zeolite market is expected to surge in the forecast period owing to the growth of the detergent industry due to its use in the commercial and residential sectors.
Increasing Application of Zeolite in Sustainable Chemistry Boosting Market’s Growth
Compared to other substitutes, zeolite is relatively safe for humans and the environment. It also plays a vital role in several sustainable processes. Thus, the use of zeolites is prominent in renewable energy and environmental improvements, such as biomass conversion, fuel cells, thermal storage, and CO2 capture. Such applications act as a proliferating factor for the zeolites market and are boosting its potential as an effective solution towards managing sustainability issues. With expanding research and development activities towards sustainable uses of zeolite, the market is anticipated to witness lucrative growth opportunities during the forecast period.
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Global Zeolite Market - By End-User
Based on end-users, the global zeolite market is segmented into water treatment, air purification, agriculture, petrochemical, construction, and other end-user industries. Agricultural applications dominate the market due to the prominent use of zeolites in soil management as they are excellent nutrient carriers. A growing consciousness on sustainability in agriculture is boosting the market growth, as zeolites are very efficient at retaining water and nutrients in agricultural soils, enhancing crop production, and preventing pollution, thus increasing its demand within this market. Zeolite is also gaining traction in the construction industry as it is being used as an additive in construction materials. The cement industry also uses it as a blending material.
Global Zeolite Market - Regional Insights
North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa make up the global zeolite market. Among these, the Asia-Pacific region dominates the global zeolite market. Europe accounts for a significant portion of the market due to its high environmental consciousness and more stringent government regulations concerning detergent toxins as potential pollutants in water. In addition, increasing demand for zeolite for industrial wastewater treatment is driving the growth of the zeolite market in this region. North America is also showcasing potential growth in the zeolite market.
Impact of COVID-19 on the Global Zeolite Market
The global zeolite market was negatively impacted by the sudden outbreak of the COVID-19 pandemic. As the countries imposed strict lockdown restrictions in 2020 and 2021 to mitigate the spread of the deadly coronavirus, the manufacturing and distribution channels for zeolites were severely impacted. Furthermore, operations of major end-users, such as detergent production and construction activities, were obstructed due to lockdown and shortage of workforce, which resulted in a sharp drop in the demand for zeolites in the market. However, the market is anticipated to recover from this setback in the post-COVID-19 period as the economic activities are slowly resuming.
Global Zeolite Market - Competitive Landscape
The leading players in the global zeolite market are Arkema Group, Zeomex, BASF SE, Clariant, ZEOCEM, a. s., Honeywell International Inc., W. R. Grace & Co., Interra Global, Tosoh Corporation, KNT Group, SHOWA DENKO KK, Zeolyst International, Inc., Teague Mineral Products, Albemarle Corporation, Gruppo Apostolico e Tanagro, Blue Pacific Minerals, Cooperative La Minera Limitada, Rota Mining Corporation, Huiying Chemical Industry Co., Ltd., and other prominent players.
The market is highly fragmented and competitive due to the presence of several leading industry participants. The market players significantly invest in research and development activities to develop and launch new production to gain a competitive edge. Additionally, they establish partnerships with research institutes for the development of advanced zeolites and to expand the use of zeolites in commercial applications. Furthermore, the adoption of other growth strategies, such as mergers, acquisitions, joint ventures, etc., is also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global zeolite market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global zeolite market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Global Zeolite Market- Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Product Type (Natural, Synthetic), By Application (Adsorbents, Catalysts, Detergents, Other Applications), By End-User (Water Treatment, Air Purification, Agriculture, Petrochemical, Construction, Other End-user Industries), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
Publish Date: January 2022
The increasing application of zeolites in various sectors, such as agriculture, construction, petrochemical, etc., is driving its market growth. Additionally, rising hygiene concerns and the growing demand for detergents are projected to drive the market throughout the forecast period.
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