Zeolite is a crystalline structure composed of aluminum, silicon, and oxygen. This forms a framework with cavities and channels where small molecules and cations can reside. They are classified into a synthetic and natural. Natural zeolites are available in natural and in abundance however synthetic one are prepared by using slow crystallization of silica-alumina gel process in the presence of organic alkalis.
The global synthetic zeolite market is estimated to account for US$ 1,681.2 Mn in terms of value and 1,956.6 Kilo Tons in terms of volume by the end of 2019.
High demand for catalysts and adsorbents has increased the consumption of synthetic zeolite. Moreover, growing demand for the product from coatings, adhesives &sealants, and refrigerants is again expected to propel the market growth of the synthetic zeolite. Furthermore, increasing use of synthetic zeolite from wastewater treatment is further creating demand for the product. The growing population around the globe is creating demand for clean and freshwater, thus fueling demand for synthetic zeolite from wastewater treatment applications, thereby accelerating the market growth.
Expansion of the oil &gas industry along with the increasing consumption of the catalyst is projected to offer lucrative market opportunities. Growing investment in the construction industry for developing high-performance construction materials as it is one of the promising materials to be used in the manufacturing of the asphalt concrete mix is further projected to fuel the product demand. Thus growing adoption of high-performance construction materials for speeding up the construction is again anticipated to propel the market growth.
Threat from the substitute as a catalyst across the various application is hampering the demand for the products. Enzymes, metals, and other chemical compounds are some of the substitutes of synthetic zeolite. This is hindering the market growth of the synthetic zeolite.
Global synthetic zeolite market was valued at US$ 1,681.2 market in 2019 and is forecast to reach a value of US$ 2,387.3 by 2025 at a CAGR of 4.4% between 2019 and 2027.
Detergent segment dominated the global synthetic zeolite market in 2019, accounting for 46.6% share in terms of value, followed by adsorbents and catalysts segments, respectively.
Increasing research and development programs for developing a new production process for synthetic zeolite is one of the current trends. For instance, in May 2020, Minerals explorer Metalsearch (MSE) has entered into a partnership with the University of Queensland (UQ) for the continued research and development of synthetic zeolites. Under the agreement, Metalsearch will have the option to acquire the intellectual property rights for the zeolite production process that is developed by the University of Queensland (UQ).
Increasing focus of the chemical manufacturer to develop high-grade zeolite for catalysts and adsorbents applications is one of the current trends in the market. For instance, in May 2017, Tosoh Corporation expanded its production capacity for high-silica zeolite (HSZ®) at its Nanyo Complex in Yamaguchi Prefecture. HSZ is a synthetic zeolite and used as a catalyst in petroleum refining and petrochemicals production, as well as an adsorption material for volatile organic compounds (VOCs).
Global Synthetic Zeolite Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has increased the demand for personal hygiene products such as soaps, sanitizers and detergents owing to rising spread of coronavirus. Hence, expected to upsurge the demand for synthetic zeolite market till the end of 2021.
Few Recent Developments
In September 2017, BASF invested in a new plant in Ludwigshafen, Germany for enhancing the production capacity of specialty zeolites. These specialty zeolites are used to produce state-of-the-art emissions catalysts for heavy-duty and light-duty diesel vehicles.