Zeolite Molecular Sieve Market was valued US$ 4.81 Bn in 2017 and is estimated to reach US$ 6.72 Bn by 2026 at a CAGR of 4.27 % during the forecast.
Zeolite molecular sieve is widely used as a catalyst in a variety of chemical processes. The rise in demand for zeolite molecular sieve from petroleum industry drives the market. Zeolite molecular sieve finds its necessity in industrial and residential purposes for wastewater treatment. As has become an extremely challenging issue in recent times. Zeolites are the best-known adsorbents, as the activated carbon is a matter of high-regeneration and production costs influencing positively on the market.
Detergents segment held a two-third share of the global zeolite molecular sieve market. Zeolite molecular sieves possess the ability to produce demineralized water through calcium ion exchange which helps in the removal of any kind of dirt resulting in tremendous demand for zeolite molecular sieves. Molecular sieves are used for a wide range of catalytic applications. Zeolite molecular sieves play an important role as highly efficient adsorbents in industrial adsorption processes.
Zeolite molecular sieves are employed in the petroleum industry for dehydration of gas streams, isomerization, alkylation, and epoxidation, and are used in large scale industrial processes, including hydrocracking and fluid catalytic cracking. In the laboratory, zeolite molecular sieves are used to dry solvent or industrial gases.
Europe dominated the global market in 2017 grabbing about 28 % of the overall shares. Asia Pacific region is projected to notify a considerable growth attributed to increasing infrastructure spending in countries like China and India is likely to augment market growth owing to increasing use in manufacturing lightweight construction material also being an important ingredient in producing asphalt concrete mixture.