Simply put, synthetic zeolite is a type of zeolite which is micro porous, is a molecular sieve and is more commonly used than natural zeolites. It is used for absorption and petrochemical catalysts and many such applications. The basis of segmenting of the synthetic zeolite market is according to its use. The categorization includes detergents, absorbents, catalysts and others. The application decides the price of synthetic zeolites. The cheapest among the synthetic zeolites are detergent grade. Molecular sieve absorbents and zeolites that are used as catalysts are relatively higher price wise.
The synthetic zeolite markets based on their geographical locations include, Asia- Pacific, Europe, North America and others. The highest demand for zeolite is found in Asia- Pacific which followed by Europe and North America. On basis of their application, synthetic zeolites are significantly used as catalysts for the FCC process in petrochemical refineries, particularly in North America. The fastest growing application segment of synthetic segment however is predicted to be zeolite molecular sieves as absorbents. The growth is due to the immense demand in end- use industries such as automotive, petrochemical and manufacturing.
In the coming time, the synthetic zeolite is expected to grow further pertaining to the global environmental concerns which has forced many governments to regulate the usage of phosphates in detergents automatically pushing the demand of synthetic zeolite market.
A growth rate of 4% is projected for the market for the period between 2014 and 2020 reaching over $1.5 billion by the end of the forecast period. Furthermore, estimates indicate over 2 kilo tons volume consumption in the market by 2020 with a CAGR growth rate of 4% roughly during the period of forecast.
Here are some more points about the synthetic zeolite market:
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