Growing detergents, catalysts and adsorbents demand is expected to remain a key factor driving the global synthetic zeolite market over the forecast period. Growth of construction, HVAC and agricultural industries is expected to further drive the global market growth. Zeolites are largely used in water purification and to reduce water hardness. Increasing awareness regarding impurities in water has been driving water purifiers’ demand. This trend is expected to further complement the global market growth.
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Increasing oil & gas exploration in U.S., Europe and Middle East along with growing oil & gas industry in North Africa is expected to drive synthetic zeolites demand in catalytic cracking and hydrocracking applications. Zeolites are commonly used in advanced reprocessing and nuclear fission methods. Increasing power generation through nuclear resources is expected to further drive synthetic zeolites demand over the next seven years. Zeolite is a major component in production of asphalt concrete.
Growth of construction industry in emerging markets along with increasing construction spending in developed markets to improve public infrastructure is expected to have a positive impact on the global market. Water softening and ionizing properties of zeolite have made it an integral component in laundry detergents. Increasing laundry detergents usage in households is projected to further drive synthetic zeolites.
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Asia Pacific is a major regional market and is expected to grow at a significant pace on account of growing end-use industries such as construction, nuclear, petrochemicals and HVAC. Laundry detergents is a major application market for synthetic zeolites in the region. Growing detergents demand is expected to complement the regional market growth. Upcoming nuclear projects in the region coupled with increasing safety measures for existing nuclear plants in Japan is expected to further drive zeolites demand.
European market growth is characterized by petrochemical capacity expansions in Russia, Azerbaijan, Germany and Kazakhstan. Presence of nuclear power plants in the region is expected to further complement European market growth over the forecast period. North America synthetic zeolites market is anticipated to grow on account of increasing shale gas extraction in the U.S. and increasing oil production in Gulf of Mexico that consequently has been driving downstream application markets.
Major companies operating in the global synthetic zeolites market include BASF, SABIC, Honeywell, Albemarle Corp., Clariant, National Aluminum Co. and W.R. Grace & Co. The global market is moderately concentrated with companies such as BASF and SABIC being forward integrated.
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