Global molecular
sieves market is expected to grow at a significant CAGR of 4.87% in the
upcoming period as the scope and its applications are rising enormously across
the globe. Molecular sieves are synthetic zeolite materials contrived with
pores of specific and uniform size and structure. Based on polarity and
molecular size it absorbs liquids and gases. Zeolites are highly porous
crystalline solids that belong to the chemical class called as
aluminosilicates.
The factors that are playing a major role in
the growth of the molecular sieves market are the growing awareness among
populace regarding treatment for hazardous organic materials in wastewater and
low cost of crude oil. However, the threat from enzymes and chemical composites
may restrain overall market growth in the years to come. Molecular sieves
market is segmented based on grade, product type, form, material, end-user, and
region.
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13X, 10X, 5A, 4A, 3A, and the other
grades could be explored in molecular sieves in the forecast period. Grade 3A
sector accounted for the substantial market share of molecular sieves and is
estimated to lead the overall market in the years to come. The reason could be
it helps to remove moisture from liquefied gases.
Zeolite, carbon, silica gel, clay,
porous glass, and other product types could be explored in molecular sieves in
the forecast period. Powdered, beaded, and pelleted forms could be explored in
molecular sieves in the forecast period. Based on material, microporous,
macro-porous, and mesoporous could classify molecular sieves in the forecast
period.
The market could be categorized based
on end-users like waste & water treatment, agricultural products, plastics
& polymers industry, air purification, pharmaceutical industry, automotive
industry, petroleum refining & petrochemicals, cosmetics, oil and gas,
detergents industry, industrial gas production, and others could be explored in
the forecast period.
Oil and gas sector accounted for the
substantial market share of molecular sieves and is estimated to lead the
overall market in the years to come. The reason could be the high demand from
oil and gas industry for the dehydration and purification of gases. Desiccants,
catalyst, adsorbent, and other applications could be explored in molecular
sieves in the forecast period.
Asia Pacific accounted for the
substantial market share of molecular sieves and is estimated to lead the
overall market in the years to come. The reason behind the overall market
growth could be the high demand in surfactants and nuclear industries for the
removal of nuclear waste. The developing countries like India and China are the
major consumers of molecular sieves in this region.
North America and Eastern Europe are
also estimated to have a positive influence on future growth. North America is
the second largest region with significant market share. However, Eastern
Europe is estimated to grow at the highest CAGR in the forecast period. The key
players of molecular sieves market are Zeolyst International, Arkema, Zeochem
AG, Axens, Union Showa KK, BASF SE, Honeywell International Inc., Tosoh
Corporation, Bete Ceramics Co. Ltd., Luoyang Jianlong Micro Nano New Materials
Co. Ltd., Calgon Carbon Corporation, Merck & Co. Inc., Dalian Absorbent Co.
Ltd., and KNT Group. These players are concentrating on inorganic growth to
sustain themselves amidst fierce competition.
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