Synthetic Zeolites market size was around USD 13.3 billion in 2018. It is expected to grow at a CAGR of 3.8% to reach USD 16 billion by 2023.
Zeolites are microporous, aluminosilicate minerals generally utilized as commercial adsorbents and catalysts. These minerals have a comparatively porous structure which makes them appropriate for utilization in numerous end-user industries. Zeolites are normally available in natural and synthetic forms, with the latter being utilized on a much larger scale than the former. Structure of zeolites largely consists of silicon-oxygen-aluminium linkages, having regular internal cavities and interconnected channels of distinctive sizes and shapes.
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Natural zeolite structure has more acid resistant silica to hold the structure together in comparison to the synthetic class of zeolites. This makes them more suitable for usage in the field of agriculture as feed additives. On the other hand, Synthetic zeolites may be categorized into three groups based on the ratio of aluminium and silicon (<1,2-5,>10) in the zeolite structure.
Zeolites are extensively utilized in the detergent industry owing to their exquisite ion exchange property and is the foremost driver for the growth of the market. The development of the market is also driven by the increasing demand for Zeolites from the paints and coating business. However, the market is anticipated to face tough competition in the next few years due to the introduction of liquid detergents and zeolite-free detergents.
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By geography, the market is segmented into Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. The Asia Pacific region has been the leading client of synthetic zeolites in the recent few years and this trend is not expected to change anytime soon. The region accounted for more than 35% of the entire global market, with the detergents segment playing a vital role in contributing to this high figure.
Key players operating in the synthetic zeolites market include Albemarle Corporation, BASF SE, Honeywell International Inc., Clariant AG, W. R. Grace & Co., Tosoh Corporation, Union Showa K.K., Zeochem AG, KNT Group, and Arkema S.A.
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