Molecular Sieves Market Size Is Set To Grow By USD 596.3 Million From 2024-2028, Growing Demand For Molecular Sieves As Catalysts To Boost The Market Growth, Technavio


(MENAFN- PR Newswire) NEW YORK, June 18, 2024 /PRNewswire/ -- The global
molecular sieves market
size is estimated to grow by USD 596.3 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about
5.56%
during the forecast period.
Growing demand for molecular sieves as catalysts
is driving market growth,
with a trend towards
increasing uses in the oil and gas industry. However,
risks associated with molecular sieves
poses a challenge. Key market players include AGC Chemicals Pvt. Ltd., Arkema Group, Axens, BASF SE, Brownell Ltd., CarboTech AC GmbH, CPH Chemie and Papier Holding AG, Desicca Chemicals Pvt. Ltd., FUJIFILM Corp., Hengye Inc., Honeywell International Inc., KNT Group, KURARAY Co. Ltd., Merck KGaA, Nanoshel LLC, Resonac Holdings Corp., SORBEAD India, Standard Industries Inc., Vizag Chemical International, and ZR Catalyst Co. LTD..

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Molecular Sieves Market Size Is Set To Grow By USD 596.3 Million From 2024-2028, Growing Demand For Molecular Sieves As Catalysts To Boost The Market Growth, Technavio Image

Technavio has announced its latest market research report titled Global molecular sieves market 2024-2028

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 - 2022

Segment Covered

Grade Type (3A, 4A, 13X, and 5A and other grades), End-user (Oil and gas industry, Petrochemical industry, Process industries, Construction industry, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

AGC Chemicals Pvt. Ltd., Arkema Group, Axens, BASF SE, Brownell Ltd., CarboTech AC GmbH, CPH Chemie and Papier Holding AG, Desicca Chemicals Pvt. Ltd., FUJIFILM Corp., Hengye Inc., Honeywell International Inc., KNT Group, KURARAY Co. Ltd., Merck KGaA, Nanoshel LLC, Resonac Holdings Corp., SORBEAD India, Standard Industries Inc., Vizag Chemical International, and ZR Catalyst Co. LTD.

Key Market Trends Fueling Growth

The molecular sieve market in MEA and South America is driven by the oil and gas industry's requirement for drying agents to eliminate moisture from chemicals and processed ingredients. Major suppliers of molecular sieves are based in APAC, Europe, and North America, with many setting up plants in APAC to cater to MEA's demand. In MEA, molecular sieves are used as catalysts for petrochemical processes and in Brazil's petrochemical industry due to the presence of large oil and gas companies like Petrobras. The expansion of oilfields in MEA and increasing use of molecular sieves in the oil and gas industry are expected to boost market growth.

The Molecular Sieves market has seen significant growth in recent years due to increasing demand for gas separation and purification applications. Plastic products and procurement of gases are key drivers in this market. Cosmetics and personal care industries also utilize Molecular Sieves for moisture control and other applications. The trend towards sustainable and eco-friendly production methods has boosted the use of Molecular Sieves in various industries. The market for these desiccants is expected to continue growing, with regulations and certifications playing a role in their adoption. The use of Molecular Sieves in various sectors, such as automotive, food and beverage, and pharmaceuticals, is on the rise. The market for these products is diverse and dynamic, with new applications and innovations constantly emerging.

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Market
Challenges

  • The molecular sieves market experiences significant growth due to their beneficial properties, such as moisture absorption and desiccant use in food industries. However, risks are associated with their use. Skin and eye irritation can occur from contact with dry molecular sieves. Ingestion or inhalation may lead to digestive tract irritation, dehydration, respiratory issues, and long-term health hazards like silicosis. Manufacturers must invest in protective equipment to ensure employee safety, increasing operational costs.
  • The Molecular Sieves market faces several challenges. The primary challenge is the high cost of production, especially for larger pore size molecular sieves. Another challenge is the competition from alternative desiccant materials like activated alumina and silica gel. The market also grapples with the issue of selectivity, as some applications require specific pore sizes and shapes. Additionally, the market must address the challenge of meeting increasing demand for molecular sieves in various industries, including gas separation, water treatment, and pharmaceuticals. Furthermore, regulatory compliance and sustainability concerns add to the complexity of the market landscape.

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Segment Overview

This molecular sieves market report extensively covers market segmentation by

  • Grade Type
    • 1.1 3A
    • 1.2 4A
    • 1.3 13X
    • 1.4 5A and other grades
  • End-user
    • 2.1 Oil and gas industry
    • 2.2 Petrochemical industry
    • 2.3 Process industries
    • 2.4 Construction industry
    • 2.5 Others
  • Geography
    • 3.1 APAC
    • 3.2 North America
    • 3.3 Europe
    • 3.4 Middle East and Africa
    • 3.5 South America

    1.1 3A-

    For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022)
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    Research Analysis

    The Molecular Sieves Market encompasses the production and distribution of molecular sieves, a type of desiccant used for various applications in the chemical industry. These materials, often made from zeolite catalysts, play a crucial role in petrochemical processes, particularly in the dehydration of feedstocks such as ethylene, propylene, butadiene, and cracked gas. The oil refining sector also utilizes molecular sieves for naphtha feed dehydration and hydrogen gas production. In addition, molecular sieves find applications in gasoline blending stocks, plastic products, cosmetics, and the FMCG sector. Natural gas production and transportation require moisture removal, making molecular sieves essential for water concerns. Furthermore, molecular sieves are used in automobile parts for moisture absorption and in corrosion protection.

    Market Research Overview

    The Molecular Sieves market refers to the industry dedicated to the production and application of desiccants and adsorbents, specifically molecular sieves. These materials are characterized by their unique pore structures, which allow them to selectively adsorb gases and liquids based on their molecular size and shape. Molecular sieves find extensive use in various industries, including refining, petrochemicals, pharmaceuticals, and food and beverages, for applications such as gas dehydration, air separation, and catalyst support. The global market for molecular sieves is driven by factors like increasing demand for cleaner and more efficient energy, growing industrialization, and advancements in technology. The market is segmented based on product type, application, and region.

    Table of Contents:

    1 Executive Summary
    2 Market Landscape
    3 Market Sizing
    4 Historic Market Size
    5 Five Forces Analysis
    6 Market Segmentation

    • Grade Type
      • 3A
      • 4A
      • 13X
      • 5A And Other Grades
    • End-user
      • Oil And Gas Industry
      • Petrochemical Industry
      • Process Industries
      • Construction Industry
      • Others
    • Geography
      • APAC
      • North America
      • Europe
      • Middle East And Africa
      • South America


    7
    Customer Landscape
    8 Geographic Landscape
    9 Drivers, Challenges, and Trends
    10 Company Landscape
    11 Company Analysis
    12 Appendix

    About Technavio

    Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

    With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

    Contacts

    Technavio Research
    Jesse Maida
    Media & Marketing Executive
    US: +1 844 364 1100
    UK: +44 203 893 3200
    Email:
    [email protected]
    Website:

    SOURCE Technavio

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