(MENAFN- GlobeNewsWire - Nasdaq) Increasing Opportunities for Suppliers on Back of Growing Use of Zeolite in Petrochemical and Detergent ManufacturingRockville , April 04, 2024 (GLOBE NEWSWIRE) -- Global demand for zeolite is estimated to reach a market valuation of US$ 12.19 billion in 2024, as revealed in the updated study published by Fact, a market research and competitive intelligence provider. The zeolite market is forecasted to reach US$ 19.85 billion by the end of 2034.
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In the construction industry, there is now high demand for lightweight materials, which is contributing to the growing use of natural zeolites. They are used in the manufacturing of several construction materials, such as concrete, cement, etc., to increase their durability and mechanical strength. Moreover, growing investments in the production of petrochemicals are also widening the market opportunities for zeolite suppliers.
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| Industrial Catalyst Market | US$ 32.43 Billion |
| Sodium Silicate Market | US$ 13 Billion |
| Potassium Silicate Market | US$ 4.3 Billion |
Several regulations have been imposed to stop phosphate use for the production of detergents. Therefore, an increase in the demand for zeolites is being seen owing to low toxicity in comparison to STPP. Furthermore, rising use of zeolite as a refrigeration adsorbent and in water treatment procedures is contributing to their growing sales.
Key Takeaway from Market Study
Worldwide sales of zeolite are calculated at US$ 12.19 billion in 2024. The global zeolite market is projected to reach a value of US$ 19.85 billion by the end of 2034. The market has been forecasted to expand at a 5% CAGR from 2024 to 2034. East Asia is projected to account for 24.6% share of global market revenue by the end of 2034. Sales of zeolite in South Korea are set to rise at a CAGR of 6.3% from 2024 to 2034. Global demand for synthetic zeolite is approximated to increase at 5% CAGR and reach a market valuation of US$ 13.74 billion by 2034-end.
“Rising investments toward increasing petrochemical production and growth of the detergent industry are key factors contributing to growing demand for zeolite,” says a Fact analyst.
| Report Attribute | Details |
| Value Projection (2034) | US$ 19.85 Billion |
| Growth Rate (2024-2034) | 5% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 54 Tables |
| No. of Figures | 114 Figures |
Rising Use of Zeolite in Several Industries in East Asia
Demand for zeolites in East Asia is anticipated to increase at a CAGR of 4.6% and reach a value of US$ 4.88 billion by the end of 2034. Growing demand for water recycling plants and petrochemical plants is anticipated to generate requirements for zeolites in the region. In addition, the growing production of animal feed and cement is also set to increase demand for zeolites.
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Key Market Players
Some of the key suppliers of zeolites are BASF, Albemarle Corporation, Blue Pacific Minerals, Clariant AG, CWK Chemiewerk Bad Kostritz GmbH, Gordes Zeolite, GCMIL, KMI Zeolite, ROTA MINING CORPORATION, and Zeolyst International.
More Valuable Insights on Offer
Fact, in its new offering, presents an unbiased analysis of the zeolite market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on product (natural zeolite, synthetic zeolite) and application (catalysts, adsorbents, detergent builders, cement, animal feed), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact Research:
Sodium Silicate Market : The global sodium silicate market is set to enjoy a valuation of US$ 8.5 billion in 2023 and further expand at a CAGR of 4.0% to reach US$ 12.6 billion by the end of 2033.
Potassium Silicate Market : The global potassium silicate market is set to enjoy a valuation of US$ 2.9 billion in 2023 and further expand at a CAGR of 3.7% to reach US$ 4.2 billion by the end of 2033.
Industrial Catalyst Market : The global industrial catalyst market size is estimated to be valued at US$ 22,345.8 million in 2024. Projections indicate a steady expansion with a CAGR of 3.8% through 2034
About Fact :
Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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