The worldwide zeolite molecular sieve market is predicted to grow in the coming years. This is due to accelerated demand for zeolite molecular sieve in the synthesis of catalysts and detergents. Moreover, zeolite molecular sieves are utilized for adsorption and separation across various industry verticals. Some of these sectors include gas and oil and water treatment.
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Rising demand for zeolite molecular sieves across these sectors is projected to drive the demand for the zeolite molecular sieve market. Rising demand for detergents due to growing health awareness among clients is also estimated to boost the market. Moreover, further development in the industry of gas and oil and augmented demand for catalysts offering improved output are also anticipated to drive the sales of the zeolite molecular sieve market.
Growing operations of water treatment for refinement of water and treatment of waste water are also expected to steer the market forward. Conversely, metals, enzymes and other chemical composites serving as alternatives to zeolite catalysts are estimated to slow down the flow of the zeolite molecular sieve market. Zeolite molecular sieves, which are silver suffused and serve as antimicrobials, are predicted to open future opportunities for the market.
Rising demand for adsorbents is also projected to raise the sales of the market. Apart from the drivers of the zeolite molecular sieve market pointed above, escalating demand for energy and rising emphasis on green technologies are also expected to add income to the market.
The zeolite molecular sieve market is segmented further in view of two categories. These are applications and geographies.
The various applications (catalysts, detergents, water treatment and gas and oil) are mentioned above.
The market is also fragmented on the strength of regions, Asia Pacific, rest of the world, Europe and North America.
The applications zeolite molecular sieve market was dominated by detergents in 2014. Zeolite molecular sieves are widely utilized in detergents as binders. Catalysts are estimated to be the most rapidly developing sector through the forecast period. This is in view of the rising sectors of gas and oil.
The geographical regions zeolite molecular sieve market was leaded by Europe in 2014. The region is also expected to dominate the worldwide market in the future. Regulatory tendency towards the limitation of green house gas ejections and strong production base of detergents and refrigerants in France, Germany, Belgium and Netherlands are expected to drive the sales of the market.
Asia Pacific is likely to be the most swiftly developing market. This is due to boosting demand for detergents and catalysts. Detergents were the biggest application of the Asian Pacific zeolite molecular sieve market in 2014. They stood first and captured more than 70 percent volume.
Latin America is expected to experience a growth of more than average. This is owing to fast urbanization. Catalysts occupied the first position and were the biggest application inside the zeolite molecular sieve market in Latin America. They captured more than 50 percent share.
Increased demand for these sieves across emergent and developed regions is also expected to further the zeolite molecular sieve market.
Information Source: Grand View Research