Growing Consumption of Synthetic Zeolites in Petroleum Refining is estimated to drive the market during the forecast period, 2023 - 2032

Pune, India, December 19, 2017, /MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on Global Synthetic Zeolites Market

Synthetic Zeolites Market Highlights

Synthetic Zeolites are used in diverse processes such as petroleum refining, purification systems which offers significant properties such as excellent solvent resistance, heat stability, long life and antioxidant properties to the finished material. Moreover, they also provide versatility and reliability to the product.

The Global Synthetic Zeolites Market has been driven by the range of its application in various sectors such as detergents, catalysts, adsorbents, and others. Moreover, it is estimated that the catalyst segment is set to witness the highest growth in the market due to its growing demand in various end-use applications over the forecast period.

Market Segmentation:

The Global Synthetic Zeolites Market is segregated into the type and application. On the basis of the type, the market is further categorized into Zeolite A, Zeolite Y, Zeolite X, Zeolite Zsm-5 segments. The Zeolite Y segment is the most widely used  type in the market due to its growing consumption in heavy end-use industries such as agriculture, oil & gas, industrial, petrochemical and others. Moreover, durability and thermal stability are the major factors behind the popularity of this segment. The increasing use of these materials in petroleum refining, hydrogenation and other systems is estimated to drive the market during the assessment period.

On the Basis of the Application, the market is segmented into detergents, catalysts, adsorbents, and others. The catalysts sector is the leading segment in the market and is anticipated to observe a rapid growth due to its boundless use in various applications. These materials are used to improve the performance, efficiency of the gas purification, waste water systems and others. Moreover, excellent thermal resistance, non-toxic, and reliable nature are some of the properties offered by these materials in the industry. The adsorbents segment is predicted to witness a higher growth in the industry due to its growing consumption in refrigeration, and air-conditioning as they offer enhanced resistance to solvents, radiation, and heat.

Competitive Analysis:

Some of the major players functioning in the Global Synthetic Zeolites Market are Albemarle Corporation (U.S.), BASF SE (Germany), Honeywell International Inc. (U.S.), Clariant (Switzerland), W. R. Grace  & Co.-Conn. (U.S.), Tosoh Corporation (Japan), Union Showa K.K. (Japan), Zeochem AG (Switzerland), Arkema S.A. (France), and Zeolyst International (U.S.) among others.

Segmental Analysis:

The Global Synthetic Zeolites Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance due to the rising demand of zeolite pellets in various applications. Countries such as China, Japan and India are the major players in this region. The North America region is estimated to witness a higher growth in the U.S., Canada and Mexico owing to the increasing demand for adsorbents in refrigeration, purification and other systems. The extensive use of zeolite pellets in refining, waste water systems has driven the manufacturers to use these materials in the end-use industries due to its non-toxic and reliable nature. Moreover, it is projected that the advancing research & development of zeolites in the market has propelled this region to witness a significant growth in Germany, the U.K and Italy.

The Middle East & Africa is estimated to observe a significant growth due to the increasing consumption of zeolite catalyst in oil & gas, petrochemical, automotive, and others. Additionally, the growing demand for synthetic materials in major industries is projected to boost the market in the Latin American region.

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