Zeolite Market Size Worth $21.7 Billion by 2030 with CAGR of 6.2% - Grand View Research, Inc.

Read 114-page market research report, "Zeolite Market Size, Share & Trends Analysis Report By Application (Catalyst, Adsorbent, Detergent Builder), By Product (Natural, Synthetic), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2022 - 2030", published by Grand View Research. Read 114-page market research report, " Zeolite Market Size, Share & Trends Analysis Report By Application (Catalyst, Adsorbent, Detergent Builder), By Product (Natural, Synthetic), By...

Read 114-page market research report, "Zeolite Market Size, Share & Trends Analysis Report By Application (Catalyst, Adsorbent, Detergent Builder), By Product (Natural, Synthetic), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Zeolite Market Growth & Trends

Based on product, the market is segmented into natural and synthetic. The former is hydrothermal and mostly belongs to volcanic origin. The latter is synthesized in laboratories in different types such as Zeolite A, Type X, Type Y, and others. In terms of revenue, synthetic zeolite dominates the market owing to its increasing demand from chemicals and detergent applications coupled with its high price. In terms of volume, natural zeolite dominates the market. However, the segment growth is anticipated to be low owing to numerous substitutes in the market.

Synthetic zeolites are extensively used as detergent builders to extract water hardness ions and soften the water medium for cleaning and laundry purpose. Rising hygiene concerns, especially after the COVID-19 outbreak, have propelled the production of detergents, and thus, positively influenced the zeolite demand. For instance, the laundry and care business of Henkel observed a growth of over 5% in sales in 2020 owing to a rise in the demand for cleaning products globally.

Based on region, Asia Pacific held the largest revenue share of the global market in 2021. The presence of countries like China and India and rapid investments in manufacturing activities in these countries are propelling the market growth. The countries are facing high production of animal feed, chemicals, and detergents, which is benefitting zeolite demand in the region. For instance, the Zhejiang Petrochemical Daishan Xylene Plant 2 is an upcoming petrochemical project in China with a capacity of 4.8 million tons per annum. In addition, around 500 other projects are anticipated to become operational in the petrochemical industry in China between 2021 and 2025.

The zeolite market is highly competitive in nature. New mediums of low-cost production are projected to open new avenues for market development over the forecast period. For instance, in May 2020, the University of Queensland filed a patent for a newly developed mineral processing technology, which is likely to reduce the cost of zeolite production significantly.

Zeolite Market Segmentation

Grand View Research has segmented the global zeolite market on the basis of product, application, and region:

Zeolite Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

Zeolite Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

Zeolite Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)

List of Key Players of Zeolite Market

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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