The zeolite market has garnered a market value of US$ 11.65 Bn in 2022, anticipated to register a positive CAGR of 5% in the forecast period 2022-2032 and reach a value of US$ 18.98 Bn. From 2015 to 2021, the global zeolite market registered significant gains, reaching a valuation of US$ 11.1 Bn in 2021. According to market research and competitive intelligence provider Fact.MR, zeolite sales expanded at a CAGR of 5.4% in the ensuing historical period. Growth is attributed to rising investments in petrochemicals production across major economies.
The market is expected to be driven by rising capacity expansions in petrochemicals production coupled with investments in water treatment projects and detergent manufacturing. However, growth prospects were disrupted significantly during the COVID-19 pandemic. The imposition of mandatory lockdowns led to a cessation of manufacturing activity, including petrochemicals production, causing a fall in demand. However, since the latter half of 2021, as restrictions began to be removed, prospects have exhibited a gradual resurgence.
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What is driving the Market Demand for Zeolites?
Rising Investments in Petrochemical Production to Enhance Uptake
Increasing investments in expanding petrochemicals production coupled with growth in the detergents industry are anticipated to drive the market growth over the forecast period. Due to their stability, superior activity, and selectivity in conversion processes, zeolites are extensively used in the petrochemicals industry as a catalyst for accelerating chemical reactions. Also, owing to their high absorption capacity for liquid components, they are widely used in the production process of detergents.
The U.S. was the largest market for zeolite in North America in 2021 and this trend is anticipated to continue over the forecast period. The presence of petrochemical facilities coupled with growth in the consumption of detergents, animal feed, water treatment, and agricultural products is expected to boost product consumption in the U.S. over the coming years.
Growing investments in the U.S. petrochemicals industry are expected to facilitate the demand for synthetic zeolite as a catalyst. For instance, Chevron Phillips Chemical announced that it will make its Final Investment Decision (FID) on its new cracker in Texas in 2022, followed by another FID of USD 8 billion in a joint venture petrochemical complex along the US Gulf Coast in 2023.
How is North America Propelling the Demand for Zeolite?
North America dominates the market with 22% of the revenue share. Growth in animal feed and petrochemicals production are the driving forces behind increasing product consumption in the region.
The region ranked third in the global feed production in 2020, which was 237.2 million tons, which is 1% more than 2019. The U.S. and Mexico are among the top feed-producing countries in the world
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Competitive Landscape
The competitive landscape of the zeolite market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.
- In April 2020, Metasearch Limited, an Australian mineral and compound producer, has secured a license from UniQuest, the technology transfer company of the University of Queensland, for synthesizing zeolite. The technology will help the company to reduce the time and cost of manufacturing.
Key Competitors:
- BASF
- Albemarle Corporation
- Blue Pacific Minerals
- Clariant AG
- CWK Chemiewerk Bad Kostritz GmbH
- Gordes Zeolite
- GCMIL
- KMI Zeolite
- ROTA MINING CORPORATION
- Zeolyst International
Key Market Segments in Zeolite Industry Research
By Product :
- Natural Zeolite
- Synthetic Zeolite
By Application :
- Zeolite as Catalysts
- Zeolite as Adsorbents
- Zeolite as Detergent Builders
- Zeolite as Cement
- Zeolite as Animal Feed
- Zeolite for Other Applications
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