Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Zeolite Catalysts Market (Type: 3A, 4A, 5A, Type X, ZSM-5; Application: Air Separation, Petroleum Refining, Petrochemicals, Refrigerants, Natural Gas) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2025”, forecasts that the global market for zeolite catalysts is expected to grow at a CAGR of around 4.8% from 2018 to 2025 and reach the market value of over $8 billion by 2025. Zeolite catalyst has relatively porous structure which makes it suitable for use in detergents, nuclear, concrete, petrochemical, refrigeration, and wide end-user industries. Zeolite catalysts are mainly available in natural and synthetic forms; however synthetic zeolites are used on a higher level than natural zeolites. Silicon-oxygen–aluminum linkages are found in the structure of zeolites, which help to form pores of identical size on upper crest of the mineral. The main application of zeolites in industry includes gas separation and ion exchange. Key factors driving the zeolite market growth include growing consumer preference towards synthetic zeolites as it is used for production of catalysts. These catalysts are used for petroleum catalytic cracking, hydrocracking and chemical synthesis. Also, the wide range of applications such as industrial products, aquaculture, agriculture, horticulture, household products, radioactive waste, and water treatment are expected to support the growth of zeolite catalysts market over the forecast period. However, rising prices of zeolite products is curbing the growth of the market. The strong demand from emerging economies is one of the opportunities for market players during the forecast period 2018-2025.
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Zeolite Catalysts for Petrochemical Industry
Petrochemical is a chemical product derived from petroleum which is obtained from other fossil fuels such as coal or natural gas, or renewable sources such as sugarcane. The main feed stocks for petroleum industry are crude oil, naphtha, gas oil, petroleum gases, cracking, reforming and kerosene. Zeolite catalyst is used in catalytic cracking due to their ability to interact with organic molecules and also help to break down large molecules found in petroleum which is expected to fuel the market growth during forecast period.
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North America Held The Largest Market Share
A wide range of applications in various sectors such as natural gas and petroleum refining is boosting the market growth in North America region. Also, the discovery of shale gas in USA has resulted in an increased production of natural gas. Furthermore, the price levels, environmental pressures, economic growth and increase in population are anticipated to increase the demand in North America over the forecast period. Moreover, rise in infrastructure investment, both domestically and internationally, interpreting geopolitical influences will increase the importance of zeolite catalyst in the North America region.
Global zeolite catalysts market is segmented by type, application and geography. Based on different types, the market is segmented into 3A, 4A, 5A, Type X, ZSM-5. Based on application, the market is bifurcated into air separation, petroleum refining, petrochemicals, refrigerants, and natural gas. Based on geography, market is further classified into North America, Europe, China, Japan, Southeast Asia, India, and Rest of the World.
3A Is the Fastest Growing Segment in Zeolite Catalyst Market
3A is the fastest growing segment in overall zeolite catalyst market which is mainly driven by rising demand for molecular sieve 3A which is used in drying of gases, and dehydration of hydrocarbons and liquids. The major application of 3A includes complete drying of natural gases, ethylene, propylene, and petrol. The 3A is the fastest growing segment and is anticipated to grow during forecast period from 2018-2025.
Key Players
The global zeolite catalysts market not only studies the top key players but also takes into consideration the role of the small and medium scale enterprises. Technological advancement has given the boost to industry which is leading to new opportunities and invites new players in form of start-ups. Some of the key players operating in the global zeolite catalysts market, profiled in the report include Clariant, Eurecat, UOP (Honeywell), Tosoh Corporation and among others.
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