Zeolite Molecular Sieves Market to be Dominated by Catalyst Application Segment Through 2028
Petroleum
refining, petrochemicals, natural gas processing, industrial gases and growing
R&D activities are expected to drive global zeolite molecular sieves market
during the forecast period, 2024-2028
According to TechSci Research report, “Zeolite Molecular Sieves Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global zeolite molecular
sieves market is expected to grow at an impressive rate during the forecast
period of 2024-2028 owing to strict regulations led to growing efforts by
industries for water treatment and air purification. Zeolite molecular
sieves are used in a wide range of applications in the oil and gas industry,
including the removal of impurities from crude oil and natural gas, as well as
the production of high-purity hydrogen for fuel cells. As the demand for
cleaner and more sustainable energy sources grows, the demand for zeolite
molecular sieves is expected to increase.
Competition from alternative materials and
high production costs are the major factor that impede the global zeolite
molecular sieves market growth. Zeolite molecular sieves face competition from
other materials, such as activated carbon and silica gel, which can be used in
similar applications. These materials are often less expensive than zeolite
molecular sieves and may offer similar performance characteristics, making it
challenging for zeolite molecular sieves to compete on price. Moreover, Zeolite
molecular sieves are complex materials that require specialized manufacturing
processes, which can be expensive. This can limit the adoption of these
materials in certain industries, such as the water treatment and air purification
industries, where cost is a key consideration. Apart from these, limited
availability of raw materials, regulatory uncertainty, and slow adoption in
certain industries are the other major factor that obstruct the zeolite
molecular sieves market growth.
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Global zeolite
molecular sieves market is segmented on the basis of materials,
application, end user industry, and region.
Based on materials, the
market is further segmented into artificial zeolite
and natural zeolite. Artificial
zeolite segment is expected
to hold the largest market share during the forecast period. Owing to limited
availability of natural zeolite, it is difficult to fulfill the actual demand
of zeolite molecular sieves. However, artificial zeolite can be produced in
large scale, which make it the dominating segment of global zeolite molecular
sieves market.
Based on application, the
market is further segmented into catalyst,
adsorbent, and desiccants. Catalyst
segment is expected to hold the largest market share during the forecast period,
2024-2028. Owing to their properties such as effective control over reaction, high
rate of reaction, and reaction
specificity, catalyst are used in wide range of application such as textile,
food, automotive, construction and other industries for different operation and
for product production as compared to alternatives. Therefore, above
mentioned wide application make catalyst segment as dominating segment of
the zeolite molecular sieves market.
Based
on end user, the market is categorized into oil and gas industry,
pharmaceutical industry, water treatment industry, agricultural industry,
chemical industry, construction industry, and others. On
the basis of end-user, oil and gas industry segment is expected to hold highest market share. owing to
rising oil and gas extraction
activities to fulfill the energy demand.
Major companies operating
in the global zeolite molecular sieves market are:
- Arkema SA
- Clariant AG
- Tosoh
Corporation
- BASF SE
- W.R. Grace
& Co
- Axens
- Sorbead
India
- CWK
Chemiewerk Bad Kostritz GmbH
- KNT Group
- Honeywell
International Inc
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“The
zeolite molecular sieves market is expected to experience significant growth during
the forecast period owing to ongoing innovation and investment in manufacturing
processes and technologies, as well as increased awareness and education around
the benefits of zeolite molecular sieves in various applications. Zeolite
molecular sieves are used in automotive catalytic converters to reduce
emissions of harmful pollutants, such as nitrogen oxides and carbon monoxide.
With the increasing focus on reducing emissions from vehicles, the demand for
zeolite molecular sieves in the automotive industry is expected to grow in the
coming years and create huge prospects of market growth during the forecast
period,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Zeolite
Molecular Sieves Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By Material (Artificial Zeolite, and Natural
Zeolite), By Application (Catalyst, Adsorbent, and Desiccants), By End User
industry (Oil and Gas Industry, Pharmaceutical Industry, Water Treatment
Industry, Agricultural Industry, Chemical Industry, Construction Industry, and
Others), By Region, and Competition,
has evaluated the future growth potential of global zeolite molecular sieves market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global zeolite molecular sieves market.”
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