Zeolite Molecular Sieve Market Size To Grow Beyond $35 Billion By 2024A Chapter by David JonesZeolite Molecular Sieve Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa ResearchThe global zeolite molecular
sieve market is expected to surpass USD 35 billion by 2024. This can be
attributed to the increasing hygiene awareness, rising demands for detergents,
and growing refining output. In addition, the rising needs for natural products
in pet litters, concrete, and agriculture industries are also anticipated to
spur the market growth over the forecast period (from 2016 to 2024).
Furthermore, increased consumer disposable income levels coupled with the
increasing focus on environmental safety are also anticipated to augment the
global market growth. The global market is divided into products, applications,
and regions.
The product sector comprises
natural and synthetic zeolites. The natural zeolite sector led the global
market in 2015. The growing demands from water treatment, pet litter, and
concrete applications and the availability of reserves globally are anticipated
to boost the market growth in the near future. Moreover, rising demands from
Brazil, India, and China are also likely to have a positive impact on the
market. Synthetic zeolites are expected to grow at a CAGR of 3 % from 2016 to
2024 due to rising needs from the detergent industry. Plus, they are
extensively utilized in gas & oil industry which is projected to positively
impact the market growth.
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The application sector of the global zeolite molecular
sieve market includes detergent builders, catalysts, and adsorbents. The
detergent builders sector was the leading application sector in 2015 due to
their wide usage as binders in detergents. Rising detergent demands due to
growing awareness about hygiene are said to spur the market growth.
Catalysts are likely to grow at a CAGR of over 2 %
over the estimated years. This is mainly due to the expansion of gas & oil
industry. Moreover, increasing demands for high-performance catalysts providing
higher output are expected to drive the industry growth. The product demands in
adsorbents are also likely to grow at CAGR of 2 % during the estimated years
due to high demands from applications like air separation & drying, water
treatment, gas separation, petroleum refining, etc.
Region-wise, Europe dominated the global market in
2015 occupying over 30 % of the total shares. The APAC region is projected to
experience a considerable growth at a CAGR of over 3 % from 2016 to 2024. This
can be attributed to the increasing infrastructure investment levels in
Malaysia, India, China, Indonesia, and other Southeast Asian economies. The major players of the zeolite molecular sieve market include Tosoh Corp.; BASF SE; Grace Catalysts Technologies; and Zeox Corp. © 2017 David Jones |
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Added on August 22, 2017 Last Updated on August 22, 2017 Tags: Zeolite Molecular Sieve Market AuthorDavid Jonescalifornia, CAAboutResearch Analyst At Hexa Research Which Provides Research Content For All Types Of Domains do check my Articles more..Writing
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