Zeolites Sales Soar as Specific Catalysts in the Move toward a Global Hydrogen Economy, finds Fact.MR
Rockville, MD , July 19, 2019 (GLOBE NEWSWIRE) -- According to a new Fact.MR report, sales of zeolites in 2018 were 8.3 Mn tons, and are expected to record ~2% Y-o-Y in 2019. The zeolites industry remains fostered by a myriad factors, ranging from the application in soil amendment procedures, and water treatment, to growing utilization as key refrigeration absorbents.
The study finds that the zeolite synthesis has emerged as an active area of research, as zeolites with uniform microscopes continue to become a key imperative across industrial processes such as separation, adsorption, and catalysis, while seeking new applications in medical, chemical sensors, magnetism, and electronics.
Preview Analysis of Global Zeolites Market Report Segmented By Type (Natural (Clinoptilolite, Mordenite, Others), Synthetic(Zeolite A, Type X, Type Y, USY, ZSM-5)), By End Use (Building & Construction, Water Treatment, Animal Nutrition, Odor Control & Desiccant, Detergents, Agriculture, Other End Use), & by Region – https://www.factmr.com/report/3817/zeolites-market
The realization that hydrogen can offer a sustainable solution to energy storage and transport has encouraged the governments worldwide to take immediate steps toward becoming a hydrogen economy, alongside rapidly changing dynamics of the energy sector. Currently at its infancy, the hydrogen energy generations holds promise for prospects of the energy industry, and zeolites play a pivotal role as specific catalysts in the generation of hydrogen energy.
According to the study, sales of zeolites will remain relatively larger in the manufacturing of detergents, accounting for ~30% shares. The shifting focus of the detergent manufacturers from phosphates to zeolites, in light of the favorable ecological attributes, will remain a key growth influencer for the zeolites market.
The agriculture industry expected to create incremental opportunities for the zeolite manufacturers, as the high water retention and ion exchange capacity of natural zeolites are eyed for production of fertilizers. Additionally, the ability of zeolites to prevent the entry of undesirable metals such as lead, zinc, and copper into the food chain, will further underpin their demand in the production of fertilizers.
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Europe and East Asia – Lucrative Markets for Zeolites
According to the study, Europe and East Asia collectively account for ~60% share of the zeolites market. Rapid industrialization and growing investments in the industrial sectors across these regions, are likely to remain leading influencers of growth for the zeolites market. Growing number of research demonstrations and tests apropos of zeolites across Asian nations has further attracted the attention of the market players for investments.
Zeolites in both, natural and synthetic form, are being widely used across a plethora of end-use industries. Accounting for ~60% volume share of the global market, natural zeolites remain the sought-after category, significantly complemented by their use in the water treatment industry. Environment concerns relating to the presence of heavy metals in wastewater, and the potential of natural zeolites to resolve these have been driving their adoption in recent years.
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The synthetic zeolites will also remain attractive among end-users, in light of their greater thermal stability and unmatched properties as specific catalysts. From purification of industrial and municipal wastewater, to restoration of degraded soil and soil modification, adoption of synthetic zeolites will remain significant in the foreseeable future.
Companies operating in the zeolites market are concentrating their efforts towards developments in the synthetic variant, apart from their focus on capacity expansions and new product developments for remaining ahead of the curve. For instance, BASF launched a new generation of FCC catalysts, based on a novel Improved Zeolite Y (IZY) technology for gasoil refiners, which is tailored to offer superior conversion and improve coke selectivity, thereby being able to aid refineries in maximizing profitability.
This study offers a long-term outlook of the zeolites market for the period between 2019 and 2029. The zeolites market is forecast to record a CAGR of 3% through 2029.
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