Growing at a Compound Annual Growth Rate (CAGR) of 2.6%, Synthetic Zeolites Market to Reach $5.9 billion by 2023 - By MarketsandMarkets™

The repoet "Synthetic Zeolites Market by Type of Zeolite (Zeolite A, Type X, Type Y, USY, ZSM-5), Application (Detergent Builder, Drying, Separation, & Adsorption, Catalytic Cracking, & Specialties), Function (Ion-Exchange, Molecular Sieve, & Catalyst) & Region – Global Forecast to 2023" The synthetic zeolites market is projected to grow from USD 5.2 billion in 2018 to USD 5.9 billion by 2023 at a Compound Annual Growth Rate (CAGR) of 2.6% during the forecast period. The synthetic zeolites market is witnessing steady growth due to the growing demand from the petrochemical refining, gas separation, and wastewater filtration end-use industries.

Browse 152 market data Tables and 51 Figures spread through 175 Pages and in-depth TOC on "Synthetic Zeolites Market – Global Forecast to 2023"

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Based on type of zeolite, zeolite A is expected to account for the largest share in the synthetic zeolites market, in terms of volume, during the forecast period.

Zeolite A is the most widely used zeolite in industries for separation and purification applications. Zeolite A belongs to the Linde Type A (LTA) family of zeolites. It was discovered at the Union Carbide Corporation Laboratories in the Linde Division in the 1950s. Since Zeolite A is largely used in the detergent industry and is actively replacing STPP, the demand for zeolite A is growing.

Based on application, the detergent builder segment is expected to dominate the global synthetic zeolites market, in terms of volume, during the forecast period.
Synthetic zeolites are used to manufacture compact and super compact detergents. After the ban by the European Union (EU) on the use of Sodium Tripolyphosphate (STPP) in detergents to control the increasing level of soluble phosphorus in municipal wastewater, Zeolite A was considered an ideal substitute to STPP and witnessed a substantial increase in demand. Several commercial detergents contain synthetic zeolites, which help in increasing their washing efficiency. Detergents containing synthetic zeolites have high adsorption capacity for liquid components, especially surfactants.

The North American region is expected to hold the largest market size in the Synthetic zeolites market during the forecast period in terms of value.
This region is a hub for some of the largest petrochemical, pharmaceuticals, and chemical industries in the world. In the US, around a third of all processed crude oil is catalytically cracked which is amongst the leading drivers for silica zeolites. Moreover, the major producers of synthetic zeolites, such as Albemarle Corporation, W.R. Grace & Co., and Honeywell International, have manufacturing facilities in the US. The US has over 130 operating petrochemical refineries.

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Major companies in the synthetic zeolites market include Albemarle Corporation (US), BASF SE (Germany), Honeywell International, Inc (US), Clariant AG (Switzerland), W.R. Grace & Co. (US), TOSOH Corporation (Japan), Union Showa KK, (Japan), Zeochem AG (Switzerland), KNT Group (Russia), Arkema SA (France), Zeolyst International (US), Huiying Chemical Industry (China), Chemiewerk Bad Kostritz GMBH (Germany), National Aluminium Company Limited (India), and PQ Corporation (US).

Leading market players such as BASF are focusing on expansion to grow in the synthetic zeolites market. In September 2017, it expanded its zeolite production capacity with a new facility for specialty zeolites at Ludwigshafen, Germany. This facility produces emissions catalysts for heavy-duty and light-duty diesel vehicles. These specialty zeolites help in chemical, petrochemical, and refining applications. This facility made BASF SE the largest producer of specialty zeolites worldwide.

Honeywell UOP is another major player in the synthetic zeolites market and is focusing on agreements as the key strategy to grow in the market. In October 2016, it licensed its Unicracking technology to Dongying Qirun Chemical Co. Ltd (China) for the production of diesel and naphtha. This development strategy enabled Honeywell to address the growing domestic demand for transportation fuels.

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