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Increasing Use of Synthetic Zeolites as Heterogeneous Catalysts in Various Traditional and Emerging Catalytic Processes to Drive Market Growth: Reports and Data
According to the latest report by Reports and Data, the global synthetic zeolites market size was USD 5,466.6 million in 2020 and is expected to reach 6,520.2 million in 2028 and register a revenue CAGR of 2.20% during the forecast period, 2021-2028.
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Synthetic zeolites are a class of inorganic silicon materials and unique molecular sieves that are used in a wide range of catalytic and adsorbent applications. Over 100 zeolites can be obtained synthetically and with the growing knowledge about zeolite properties and manufacturing processes, it is now possible to tailor the structure of zeolite as per specific requirements and applications. Synthetic zeolites are widely used in drying and purifying gaseous and liquid streams in petroleum, chemical, and natural gas industries and this has led to improvements in process efficiency and performance and quality. Synthetic zeolites have also been exploited in water treatment processes due to small crystallite sizes, and these factors are expected to continue to drive market revenue growth over the forecast period.
Synthetic zeolites are crystalline aluminosilicates produced during thermal processes and can be used in a wide range of applications such as static and dynamic drying, ion exchange, and selective separation of gases and liquids. Synthetic zeolites are ideal for drying purposes owing to their enhanced affinity to water and various molecules with small diameters. Over the past few decades, advancements in zeolite research and in zeolite material sciences have expanded applications areas of synthetic zeolites, which now include encapsulation of semiconductors, as hosts, in development of matrices to trap conducting polymers, and as materials for constructing electrodes and batteries, among others. Synthetic zeolites also offer numerous benefits over natural zeolites due to their larger pore size and enhanced sorption capabilities of larger molecules. Synthetic zeolites facilitate robust removal of radioactive waste from the environment, can readily adsorb heavy metal ions, and have two-times higher oil sorption capacity, which makes these highly suitable alternatives to mineral sorbents for cleaning up land-based petroleum spills. Synthetic zeolites are more uniform as compared to natural zeolites, can be engineered with a wide range of chemical properties, have a higher thermal stability, and are pure, and this has further increased applications in various end-use industries. Industries include agricultural, petroleum, and environmental protection. This is expected to further contribute to revenue growth of the market over the forecast period.
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Synthetic zeolites also have applied in development of novel drug delivery systems such as sustained drug delivery system and encapsulation of drugs with lesser aqueous solubility. Synthetic zeolites have numerous pores which can effectively encapsulate drugs with high efficiency and release in sustained and controllable manner. Various research studies are underway to explore biomedical applications of synthetic zeolites such as in imaging, wound treatment, and drug delivery, and can further fuel revenue growth. However, synthetic zeolites are often available in dispersive powder form, which limits usage, and abundant availability of natural zeolites at cost effective prices are some key factors expected to restrain market growth to a certain extent over the forecast period.
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The Linde Type X segment is expected to register significant revenue growth over the forecast period owing to extensive use of Linde X as sorbets and catalysts. Linde Type X zeolite is also used for selective adsorption of CO from gas streams and in the pre-purification of air for industrial air separation applications.
Fluid cracking segment accounted for a significantly larger revenue share in 2020 and is expected to register considerably larger revenue share over the forecast period, attributable to increasing use of synthetic zeolites as catalysts in fluid catalytic cracking of petroleum crude oil owing to unique pore structure and high catalytic cracking performance.
North America is expected to register robust revenue growth over the forecast period, attributable to presence of established oil and gas industry, rising need to reduce VOC emissions and environmental pollution, and robust presence of key market players in the region.
Asia Pacific is expected to account for largest revenue share during the forecast period, attributable to increasing demand for detergents, rising focus on water treatment and purification, rapidly growing oil refinery industry, increasing demand for oil and energy, and rapid industrialization in major countries in Asia Pacific .
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For the purpose of this report, Reports and Data has segmented the global synthetic zeolites market on the basis of product type, application, industry vertical, and region:
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