Synthetic Zeolites Market Expected to Reach $7.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Synthetic Zeolites Market," The synthetic zeolites market was valued at $5.3 billion in 2021, and is estimated to reach $7.3 billion by 2031, growing at a CAGR of 3.3% from 2022 to 2031.

Powdered synthetic zeolite is a molecular sieve. It is the most effective method for removing water from coatings, sealants, adhesives, and resins. In addition, it is used to communicate information regarding nanoparticles to the visible world. Their primary applications are medicinal, and they provide entry points for the development of numerous Nano-based products. Increasing demand for synthetic zeolites catalyst, adsorbents, and detergent builders is currently driving the need for zeolites in synthetic form. 

Zeolites are a large class of hydrated aluminum silicates, both natural and synthetic.  The content of the raw materials and the parameters of the reaction, such as water pressure, acidity, and temperature, determine the creation of synthetic zeolite. Zeolite A, one of the most well-known synthetic zeolites, is used extensively in laundry detergents. X and Y zeolites are utilized for catalytic cracking. 

The synthetic zeolites market dynamics indicate a growing preference for synthetic zeolites in the form of adsorbents and a variety of market applications such as air purification, wastewater treatment, personal hygiene products, and others such as cosmetics is likely to create lucrative opportunities for the market players that are operating in the global synthetic zeolites market, leading to a massive expansion in the global locations during the forecast period. During the forecast, the product demand for adsorbent applications is projected to increase at a high rate due to a rise in environmental emissions, especially from the transportation sector. The increase in the number of end-use industries for synthetic zeolites is the primary factor driving the market growth rate for synthetic zeolites. Increasing costs associated with the consumption of compact detergents will generate profitable growth prospects for the market for synthetic zeolites.

Increasing industrialization and the need for FCC catalysts in industrial applications would contribute to the expansion of the synthetic zeolite market. Increasing demand for items with ionizing and water-softening capabilities will also drive demand increase for synthetic zeolites. However, fluctuating prices of transporting synthetic zeolites due to fluctuating costs of transportation fuels would offer a significant obstacle to the market's growth rate. The toxicity of synthetic zeolites will further limit the market's expansions. The availability of cheaper substitutes would further hamper the growth rate of the synthetic zeolites market. The increasing demand for silver zeolites in antimicrobial applications is anticipated to generate market opportunities during the forecast period. Silver is commonly utilized in a variety of environmental settings due to its renown as a natural antimicrobial agent. Due to their exceptional antibacterial capabilities, silver zeolites have the potential opportunity for the healthcare industry. 

On the basis of zeolite type, the synthetic zeolite market is categorized into zeolite A, type X, type Y, zeolite ZSM-5, and others. Type Y is projected as the fastest-growing segment and has garnered the highest share in the synthetic zeolite market. 

On the basis of application, the synthetic zeolite market is categorized into adsorbents, detergents, catalysts, masking agents, wastewater treatment, and others.  Detergent application is projected as the fastest-growing segment and has garnered the highest share in the synthetic zeolite market. 

Region-wise, Asia-Pacific is projected to register robust growth during the forecast period. The major players operating in the global synthetic zeolites market are BASF SE, Albemarle Corporation, Arkema, Clariant, CWK Chemiewerk Bad Köstritz GmbH, Honeywell International Inc., KNT Group, Tosoh Corporation, W. R. Grace & Co.-Conn., Zeolyst International. Other players operating in the market are Huiying Chemical Industry (Quanzhou) Co., Ltd, National Aluminum Company Limited (NALCO), PQ Corporation, and SHOWA DENKO K.K. 

Key findings of the study 

• On the basis of zeolite type, the type Y segment is expected to grow at a CAGR of 3.7%, in terms of revenue, during the forecast period. 

• Depending on the application, the detergents segment is expected to grow at a CAGR of 3.6%, in terms of revenue, during the forecast period. 

• Region-wise, Asia-Pacific garnered the highest share in 2021 in terms of revenue. 

COVID-19 analysis 

The pandemic of COVID-19 has had a swift and severe impact on the global automotive industry. Since the pandemic has taken control of the daily routines and methods of living of the average person, market participants have struggled to remain aware of trends and provide new and changed preferences and needs. Since the COVID-19 outbreak, one of the major issues that business sectors have faced is the inaccessibility of skilled labor due to forced lockdowns of the temporary and permanent variety, as well as the decreased accessibility of natural resources and substances, which are ultimately causing significant disruption in the production network system.

In addition, the decline in the number of job vacancies is causing customers to be unable to satisfy their needs, hence posing substantial development challenges for the global. Rising government assistance and continuous open space initiatives are likely to assist the market in accounting for misfortunes and, consequently, making do with the labor and contributions during the specified time frame. Similarly, competent market players operating in significant global locations are increasing their focus on innovative work initiatives that will aid in the development of energetic products that will boost the market size over time.