Zeolites producers are investing extensively in bolstering manufacturing capacities in untapped markets to sustain growth through and after the end of the coronavirus pandemic.
ROCKVILLE, MD / ACCESSWIRE / July 1, 2020 / The coronavirus outbreak has impacted the worldwide demand for zeolites products. Lockdown orders and the consequent disruptions to supply chains will result in a slump within the zeolite market. Impacted end user verticals such as petroleum, detergent, and construction industries will hamper market growth in the near future.
The zeolites market is expected to expand at an sluggish 3% CAGR through the forecast period (2020-2030). However, research into the antiviral properties of zeolites is generating opportunities for new revenue streams in coronavirus prevention and treatment procedures. The zeolites market will witness strong resurgence after the pandemic owing to extensive industrial applications.
"The growing use of zeolites in the role of adsorbents in refrigeration setups is on the rise owing to easy availability and non-hazardous nature. Such industrial applications are gaining popularity driven by low thermal power requirements. Further, these systems do not emit CFCs aiding sustainability initiatives. These trends will support the zeolite market once the outbreak is under control," says the Fact.MR report.
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Zeolites Market- Key Takeaways
- Synthetic types of zeolite products are highly sought after owing to adsorbent applications in water treatment, detergents, and oil & gas sectors.
- Detergent industry applications contribute substantially to market revenue, owing to superior cleaning characteristics.
- Adsorbent production is gaining ground in zeolites industry owing to ion-exchange and molecular sieve characteristics.
- Europe followed by Asia Pacific are the dominant markets for zeolites driven by eco-friendly manufacturing and water-treatment applications.
Zeolites Market- Key Driving Factors
- The rising consumer awareness among consumers, coupled with demand for detergent products drives zeolites adoption rates.
- High demand for agriculture, pet litters, and concrete will generate lucrative market opportunities.
- Research into anti-microbial properties of zeolites in addition, to non-toxic properties are providing substantial revenue streams to the market.
- Rising water treatment requirements, particularly in developing economies aids in market growth.
Zeolites Market- Key Restraints
- Prevalent issues of low purity and divergent sizes in zeolite crystals hinder market growth.
- Zeolites cannot be used for the synthesis of large molecules owing to micro-porosity characteristics, limiting market opportunities.
COVID-19 Impact on Zeolites Market
Supply chain disruptions and the temporary suspension of activities in a number of end use verticals during the covid-19 pandemic are adversely affecting the global zeolites market. On the other hand, growth in e-commerce channels of distribution aid in partially mitigating losses during this crisis period.
Further, the anti-microbial properties of zeolites, combines with demand for detergent products create novel, lucrative market opportunities. In addition, researchers have found potential drug delivery capabilities in zeolites for varied therapeutic agents, nutrients, and drugs, which will help in sustaining market growth throughout the pandemic.
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Competitive Landscape
Manufacturers are investing in strategic collaborations capacity expansions to bolster market position and to keep up with rising demand, particularly in Asia Pacific and Europe. In addition, investments into research for zeolite applications. For instance, Australia based Metalsearch has started the international patent process for zeolite production technologies.
Zeolyst International,Lenntech BV, Zeochem Ltd., Albemarle Corporation, Teague Mineral Products, W.R. Grace & Co-Conn, NanoScape AG, Bear River Zeolite, Silkem Proizvodnja Zeolitov, Gruppo Apostolico Tanagro, Clariant, Anten Chemical Co. Ltd., Gordes Zeolite, IDA-ORE, and Mining LLC, are some of the leading zeolites producers in the global market.
About the Report
This study offers the market forecast of the zeolites market. Global, regional and country-level analysis of the industry trends affecting the zeolites market is covered in this FACT.MR study. The report offers insights on the basis of type (natural and synthetic), and end use (building & construction, water treatment, animal nutrition, odor control & desiccant, detergents, agriculture, and others) across six regions (North America, Latin America, Europe, South Asia & Oceania, East Asia, and MEA).
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SOURCE: Fact.MR