PUNE, India, June 22, 2017 /PRNewswire/ --
The report "Synthetic Zeolites Market by Type (Zeolite A, Zeolite Y, Zeolite X, Zeolite Zsm-5), Application (Detergents, Catalysts, Adsorbents), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market was valued at USD 13.67 Billion in 2017 and is projected to reach USD 16.28 Billion by 2022, at a CAGR of 3.6% between 2017 and 2022.
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The synthetic zeolites market has been growing owing to the increasing demand for FCC catalysts, rising demand from the detergent industry, and growing market for VOC adsorbents. Leading players such as Albemarle Corporation (U.S.), BASF SE (Germany), Honeywell International Inc. (U.S.), Clariant AG (Switzerland), W. R. Grace & Co. (U.S.), Tosoh Corporation (Japan), Union Showa K.K. (Japan), Zeochem AG (Switzerland), KNT Group (Russia), and Arkema S.A. (France) are focusing on entering new markets, and this is expected to drive the synthetic zeolites market in future.
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Based on type, Zeolite Y is estimated to account for the largest share in the synthetic zeolites market in 2017
Based on type, Zeolite Y accounts for the largest share of the Synthetic Zeolites Market and is expected to witness high growth in the coming years. Zeolite Y can be used in Fluid Catalytic Cracking (FCC) to increase the yield of gasoline, diesel, and other products from crude oil. In this process, heavy paraffins are cracked to form gasoline grade napthas. Zeolite Y is used in hydrocracking to increase the aromatic content of reformulated refinery products.
Based on application, the catalysts segment is estimated to account for the largest share of the synthetic zeolites market in 2017
Synthetic zeolites are preferred in the catalysts segment as these have a well-defined pore structure and adjustable acidity. These are thus useful in fluid catalytic cracking and hydrocracking processes in the petrochemical industry. These catalysts help in the higher extraction of petrol and diesel from petroleum. Growth in the demand for FCC and hydrocracking catalysts is leading to an increasing demand from this segment.
North America is estimated to lead the synthetic zeolites market in 2017
North America has the highest refining capacity in the world, and is thus the biggest market for synthetic zeolites in the catalysts application. The rising demand for transportation fuels coupled with the stringent regulations for clean fuels are major factors driving the FCC refinery catalysts market in North America.
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Key players operating in the synthetic zeolites market include Albemarle Corporation (U.S.), BASF SE (Germany), Honeywell International Inc. (U.S.), Clariant AG (Switzerland), W. R. Grace & Co. (U.S.), Tosoh Corporation (Japan), Union Showa K.K. (Japan), Zeochem AG (Switzerland), KNT Group (Russia), and Arkema S.A. (France).
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