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Report
Zeolites Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
The zeolites market is expected to record a CAGR of over 2.5% during the forecast period (2022-2027).
The COVID-19 pandemic significantly impacted the manufacturing operations of zeolites and their raw materials. Global zeolite production witnessed a decline during the first half of 2021. This is majorly due to the shortage of raw material and labor as well as government-mandated plant shutdowns. However, the market excepted to recover during the forecast period.
Key Highlights
The major factors driving the market studied are increasing demand from the water treatment industry and increasing the use of zeolite as refrigeration adsorbents.
The usage of substitutes for zeolites is expected to hinder the growth of the market studied.
Moreover, the increasing demand for compact detergents is likely to act as an opportunity for the market studied in the forecast period.
Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China and India.
Zeolites Market Trends
Agriculture Industry to Dominate the Market
Due to their high ion exchange and water retention capacity, natural zeolites are extensively used in fertilizers and soil amendment procedures. Zeolites are also used to increase the ammonia retentively of the soil.
In the fertilizer industry, zeolites trap undesirable metals and prevent the intake of heavy metals in the food chain. Zeolites trap metals like copper, cadmium, lead, and zinc. Due to their high ion exchange capacity, zeolites are seen as effective carriers of herbicides, fungicides, and pesticides.
The North American agriculture sector is growing steadily, owing to the decrease in the demand for fertilizer, as well as the drop in grain prices in the domestic market and at the global level. The margin for growers declined, which, in turn, reduced the economic potential of farmers to buy fertilizers for crops.
In Europe, there is an increase in the consumption of biofuel and bioenergy, which has increased the demand for fodder crops. As fodder crops are the largest consumers of fertilizers, they are expected to boost the demand for zeolites.
In Asia-Pacific, the agricultural sector is expected to grow for various reasons. Along with meat and dairy, urban consumers eat more freshly produced and processed fruits, vegetables, juices, etc. Therefore, freshly produced food items will continue to grow as the population shifts from rural areas to the cities.?
The aforementioned growth in the global agriculture industry is likely to contribute to the demand for zeolites during the forecast period (2022-2027).
China to Dominate the Market in the Asia-Pacific Region
China dominated the Asia-Pacific region's market share. Though the growth in the country remains high, it is gradually diminishing as the population ages, and the economy is rebalancing from investment to consumption, manufacturing to services, and external to internal demand.
China has become the largest construction market in the world. In 2021, the construction industry value in China amounted to USD 1,117 billion. As the government has planned to focus on improving the infrastructure in small and medium-sized cities, the construction industry was forecast to maintain a continuous growth at around five percent annually. Thus it is anticipated to increase the usage of zeolites in construction applications.
China's most recent environmental report remains negative, suggesting that 61.5% of groundwater and 28.8% of key rivers were classed as 'not suitable for human contact'. In order to reverse the state of severe water pollution, China requires high-grade wastewater treatment technologies, thereby increasing the demand for zeolites in the country.
Similarly, China accounts for approximately 7% of the overall agricultural acreage globally, thus feeding 22% of the world population. The country is the largest producer of various crops, including rice, cotton, potatoes, and many other vegetables. Thus it is expected to boost the market for zeolites during the forecast period.
Moreover, many refineries in the country have planned to increase their capacities over the next few years to meet the increasing demand for various chemicals and petrochemicals. With the growing demand for various chemicals globally, the demand for zeolites from this sector is projected to grow during the forecast period (2022-2027).
Zeolites Market Competitor Analysis
The zeolites market is consolidated in nature. The major companies (not in a particular order) include BASF SE, Honeywell International Inc., Clariant, Tosoh Corporation, and Arkema Group.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from Water Treatment Industry
4.1.2 Increasing Use of Zeolite as Refrigeration Adsorbents
4.1.3 Significant Usage of Zeolites for Catalytic Cracking in the Petroleum Industry
4.2 Restraints
4.2.1 Usage of Substitutes for Zeolites
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Natural
5.1.2 Synthetic
5.2 Application
5.2.1 Adsorbents
5.2.2 Catalysts
5.2.3 Detergents
5.2.4 Other Applications (Refining, Biogas)
5.3 End-user Industry
5.3.1 Water Treatment
5.3.2 Air Purification
5.3.3 Agriculture
5.3.4 Petrochemical
5.3.5 Construction
5.3.6 Other End-user Industries (Medical, Nuclear Industry)
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East & Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Arkema Group
6.4.2 BASF SE
6.4.3 Clariant
6.4.4 Honeywell International Inc.
6.4.5 Interra Global
6.4.6 KNT Group
6.4.7 SHOWA DENKO KK
6.4.8 Tosoh Corporation
6.4.9 W. R. Grace & Co.
6.4.10 ZEOCEM AS
6.4.11 Zeolyst International Inc.
6.4.12 Zeomex
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Demand for Compact Detergents
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