Global Zeolite Market to reach USD 36.3 billion by 2025 | CAGR: 2.5%
Global Zeolite Market is valued at USD 29.08 billion in 2016 is anticipated to grow USD 36.3 billion with the compounded annual growth of 2.5% over the forecast period 2017-2025.
New York 31 May 2018, as per the new research study conducted by Bizwit Research & Consulting, Global Zeolite industry is poised to raise USD 36.3 billion by 2025. Key factors success factors of growing demand for detergents, raising hygiene awareness among consumers, and rising refining output. Furthermore, an escalating need for natural products in pet litters, agriculture, and concrete industries is expected to increase industry share over the forecast period.
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The industry seems to be fairly competitive. Some of the leading market players include Tosoh Corporation, Arkema group, BASF SE, Interra global corporation, UOP LLC, Zeochem AG and so on. Other market players discussed in the report include Catalysts Technologies, Tricat group, KNT Group. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Technological innovations aimed at improving manufacturing processes, coupled with low complexity in the production, are expected to have a positive impact on the industry.
- Stringent regulations regarding environment protection by numerous governments are expected to be a critical driver for industry growth due to its ability to reduce water and air pollution.
- Presence of enzymes, metals, and other chemical compounds as a substitute to zeolite catalysts is expected to hamper market growth.
- Increased petroleum refining and changing lifestyles of people in emerging economies are expected to augment growth in the near future.
Bizwit Research & Consulting LLP has considered the following segments for the study:
- Natural zeolite
- Synthetic zeolite
- Detergent Builders
- North America
- Asia Pacific
- Latin America
- Rest of the World