SAN FRANCISCO, Dec. 7, 2021 /PRNewswire/ -- The global zeolite market size is expected to reach USD 44.24 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.5% from 2021 to 2028. The growth of the chemical sector, coupled with the increasing demand for natural products in industries such as agriculture and concrete, is expected to propel market growth in the coming years.
Key Insights & Findings from the report:
Based on product, the synthetic segment is likely to register the highest CAGR of 6.6% in terms of revenue from 2021 to 2028 owing to the increasing demand for water purification and filtration
In terms of application, detergent builders held the largest revenue share of over 55.0% in 2020 and are expected to maintain their position over the forecast period. This can be credited to the growing detergent industry owing to the rising concern over cleanliness
Europe held the second-largest share in 2020 in terms of revenue on account of the rising preference for capacity expansions by producers, especially in the chemical industry
In North America, the U.S. held the largest revenue share of over 75.0% in 2020. Rising advancement in the medical industry, particularly for the drug delivery systems, is expected to prove fruitful for the market growth during the coming years
Read 103 page maket research report, "Zeolite Market Size, Share & Trends Analysis Report By Product (Natural, Synthetic), By Application (Adsorbents, Catalysts, Detergent Builders), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
Zeolites are aluminosilicate minerals that are microporous in nature. The U.S. FDA has approved the use of sodium aluminosilicate for direct contact with consumable products. However, according to the OSHA Hazard Communication Standard under 29 CFR 1910.1200, the products are classified as hazardous chemicals. Increased exposure to such products is associated with an increased risk for developing malignant mesothelioma; thus stringent government regulations are positively influencing the market growth.
Zeolite chemical compositions are extensively used in several industries, including medical, petroleum, detergents, and animal feed. Growing demand for zeolites as a platform for drug delivery is augmenting the market growth as the products are used for drug delivery owing to their hydrophilicity structures.
Europe is anticipated to register a lucrative growth rate over the forecast period. The government of Russia has developed certain scientific programs for environmental conservation with the help of zeolites by utilizing them for wastewater treatment, purifying and drying of gas, and the preparation of drinking water. This is expected to increase the demand for zeolites over the forecast years.
Rising focus on producing environmentally safe products has led to the utilization of zeolites as a replacement for phosphorus for manufacturing detergents. Zeolite detergents have proven to be more successful in the removal of dirt and any other foreign particles. This has resulted in the tremendous growth of the market.
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 - 2028)
Zeolite Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Zeolite Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
List of Key Players of Zeolite Market
International Zeolite Corp.
Blue Pacific Minerals
Cooperative La Mineraltda
Rota Mining Corporation
Check out more studies related to types and applications of zeolites, conducted by Grand View Research:
Natural Zeolites Market – The global natural zeolites market size was estimated at USD 6.47 billion in 2017. It is projected to witness a CAGR of 2.7% from 2017 to 2025. The construction industry is the major application market for natural zeolites. However, the product is expected to witness rapid growth, in terms of demand, from soil amendment and water purification applications.
Zeolite Molecular Sieve Market - The global zeolite molecular sieve market is expected to reach USD 4.27 billion by 2022, according to a new study by Grand View Research, Inc.
Refinery Catalyst Market – The global refinery catalyst market size was valued at USD 6.6 billion in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.7% from 2020 to 2027. The market is expected to grow on account of increasing demand for transportation fuel globally.
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About Grand View Research
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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