Synthetic zeolite market accounted for 10.17 billion in 2019 and is estimated to be US$ 14.17 billion by 2029 and is anticipated to register a CAGR of 3.3%. In nature, zeolites are believed to be completely benign and non-toxic. These are a group of raw materials with a porous framework that make them suitable for use in petrochemicals, detergents, and other applications. Zeolites are dietary supplements that include silicon and aluminium compounds and are used to treat diarrhoea, autism, herpes, and cancer. These are also used to eliminate heavy metals and balance the pH in the body. Zeolites are hydrated aluminium silicates that can be found naturally or synthetically. Synthetic zeolites, on the other hand, have a greater range of characteristics and cavities. Synthetic zeolites are increasingly being employed as phosphate substitutes in the detergent manufacturing process.
The report " Global Synthetic Zeolites Market, By Type of Zeolite (Zeolite Y, Zeolite A, Zeolite X, Zeolite Zsm-5, and Others), By Application (Detergents, Adsorbents, Catalysts, and Others (Including dietary supplements, wound care, silver zeolite, etc.)), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
In August 2018, BASF SE introduced Luminate, a Fluid Catalytic Cracking (FCC) catalyst for gas and oil refiners. This catalyst will improve coke selectively and maximize the profitability of refineries. It is based on BASF’s Improved Zeolite Y (IZY) technology.
Analyst View:
The growing number of end-use industries for synthetic zeolites is the driving force behind the market's rapid expansion. The synthetic zeolites market will see even more profitable growth prospects as consumer spending on compact detergents rises. Synthetic zeolites will see greater demand as a result of rising industrialization and increased demand for FCC catalysts in industrial applications. Synthetic zeolites will see increased demand as demand for products with ionising and water-softening capabilities increases. Increased government support for limiting the use of phosphates in detergents will also provide lucrative opportunities for the synthetic zeolites sector.
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Key Market Insights from the report:
The global synthetic zeolite market accounted for 10.17 billion in 2019 and is estimated to be US$ 14.17 billion by 2029 and is anticipated to register a CAGR of 3.3%. The global synthetic zeolite market report based on type, application, and region.
Based on Type, Global Synthetic Zeolites Market is segmented into Zeolite Y, Zeolite A, Zeolite X, Zeolite Zsm-5, and Others.
Based on Application, Global Synthetic Zeolites Market is segmented into Detergents, Adsorbents, Catalysts, and Others (Including dietary supplements, wound care, silver zeolite, etc.).
By Region, the Global Synthetic Zeolites Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Synthetic Zeolites Market:
The key players operating in the global synthetic zeolite market include BASF SE, Tosoh Corporation, Honeywell International Inc., Union Showa K.K., Chemiewerk Bad Köstritz GmbH, Anhui Mingmei MinChem Co., Ltd., R. Grace & Co., Arkema Group, Interra Global Corporation, and National Aluminium Company Limited (NALCO). Product launches are the key strategies adopted by the players in the overall synthetic zeolite market.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
