(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 13, 2021, 05:46 /Comserve / -- Zeolite Molecular Sieves Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The zeolite molecular sieves market is expected to witness a CAGR of around 5% during the forecast period. The major factors driving the growth of the market studied are the rising awareness for the treatment of hazardous organic materials in wastewater and high demand from the detergent market. On the flip side, the threat from chemical composites, enzymes, and other substitutes serves as one of the major stumbling blocks in the growth of the market studied.
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- The detergent segment dominated the market and is likely to grow during the forecast period. The demand in the forecast period is expected to be largely driven by the growing population, increasing hygiene concerns, and growing industrial usage.
- Increasing demand for using green technologies and the development of anti-microbial zeolite molecular sieves are likely to provide opportunities for the market studied during the forecast period.
Key Market Trends
Detergent Segment to Dominate the Market Demand
- The detergent market segment stands to be the largest consumer for zeolite molecular sieves. With the increasing awareness among the consumers about the use of environment-friendly detergents, the demand for zeolite molecular sieves from the detergent industry has increased.
- Conventionally, sodium tripolyphosphate (STTP) were used in the production of detergents. However, water pollution, due to the accelerated growth of unwanted water flora in the sewers, became a concern related to the use of STTP.
- Owing to this, zeolite molecular sieves has been replacing the use of STTP in detergents, which has been driving the demand for the detergent application.
- With the growing population, rising disposable income, increasing hygiene concerns, and increasing demand for industrial detergents, the detergent industry has been witnessing noticeable growth.
- Hence, in order to cater to the increasing demand, the detergent industry demand for zeolite molecular sieves is expected to increase in the coming years.
Europe to Dominate the Market
- European region dominated the global market share. Zeolite molecular sieves application is generally at a more advanced level in the region.
- Growing demand for gasoline in the region is raising the refining activities through fluidized catalytic cracking units, which, in turn, is boosting the demand for zeolite molecular sieves in the region.
- Europe is well known for investing heavily in research and development, and continuous innovations for developing advanced technologies and products.
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- In this regard, the region is now focusing on the development of anti-microbial zeolite molecular sieves, which is further likely to add to the growth of the market in the coming years.
- Also, the demand from industries, such as detergents, heating and refrigeration industry, industrial gas, petrochemicals, and pharmaceuticals, in the region is likely to further drive the growth of the zeolite molecular sieves market in the coming years.
Competitive Landscape
The zeolite molecular sieves market is a fragmented market, where numerous players hold an insignificant share of the market to affect the market dynamics individually. Some of the major players in the market include Arkema Group, Clariant, Tosoh Corp, BASF SE, and W.R. Grace, among others.
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Awareness for Treatment of Hazardous Organic Materials in Wastewater
4.1.2 High Demand from the Detergent Market
4.2 Restraints
4.2.1 Threat from Chemical Composites, Enzymes, and Other Substitutes
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
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