Global Zeolite Market Is Estimated To Witness High Growth Owing To Rising Government Initiatives And Increasing Use Of Zeolites In The Detergent Industry

 

Overview:

Zeolite is a crystalline aluminosilicate material that is used in a variety of applications. It is also an important chemical ingredient in synfuels production. Zeolite is a naturally occurring mineral that is primarily composed of silicon, aluminum, and oxygen. Zeolites are found in sedimentary rocks. Some crystals have been recognized in the cavities of volcanic rock. This mineral is known to be a strong adsorbent. Zeolites are highly porous and have a cage-like framework structure. Water molecules and ions are trapped within the pores. Positively charged alkali ions occupy the pores. These cations can then be exchanged with other molecules. Natural zeolites are obtained from volcanic ash, quartz, montmorillonite, magnetite, and volcanic glass. The crystallized structure of zeolite is a result of a tetrahedral arrangement of eight silicon atoms. These zeolites are commonly used as adsorbents and catalysts. They are also used in various stages of water purification processes.

Market Dynamics:

Increasing partnerships is estimated to augment the growth of the global Zeolite market during the forecast period. For instance, Honeywell, the Council of Scientific and Industrial Research–Indian Institute of Petroleum, Government of India and the Defence Research Development Organization partnered up in June 2021, for supplying zeolites in order to accelerate the setting up of Medical Oxygen Plants in India. Moreover, fluctuating cost of transportation is anticipated to restrain the growth of the global zeolite market during the forecast period.

Impact of COVID-19:

COVID-19 was first recognized in December 2019 in China. In 2020, the World Health Organization declared COVID-19 as a public health emergency. The pandemic affected many countries across the world. Many governments took strict measures for preventing the spread of the virus. As the number of positive cases were increasing day-by-day, several nations had to impose strict lockdowns. This led to shutting downs of production units in many countries and there was a shortage of raw materials in many industries. Supply chains were disrupted owing to travel bans being imposed in many regions. Personal are products and cosmetic industries were temporarily shut down owing to the strict restrictions impose. This resulted in decrease in demand for zeolite. The growth of the global zeolite market was hindered owing to the pandemic.

 Key Takeaways:

The global zeolite market is expected to witness high growth, exhibiting a CAGR of XX% over the forecast period, due to increasing investments by major players. For instance, Kumho Mitsui Chemicals Inc. declared an investment of USD 358.1 million for the expansion of their chemical manufacturing facility in South Korea in April 2021.

 North America is anticipated to witness significant growth in the global zeolite market over the forecast period, owing to rising product consumption and growth in the production of animal feed and petrochemicals.

 Major players operating in the global zeolite market are Zeolyst International, Albemarle Corporation, Zeolite, BASF, KMI Zeolite, and Clariant.