Zeolite Market Size, Share & Trends Analysis Report By Product (Natural, Synthetic), By Application (Adsorbents, Catalysts, Detergent Builders), By Region, And Segment Forecasts, 2021 - 2028
Zeolite Market Growth & Trends
The global zeolite market size is expected to reach USD 44.24 billion by 2028. It is expected to expand at a CAGR of 6.5% from 2021 to 2028. The growth of the chemical sector, coupled with the increasing demand for natural products in industries such as agriculture and concrete, is expected to propel the market growth in the coming years.
Zeolites are alumino silicate minerals that are microporous in nature. The U.S. FDA has approved the use of sodium alumino silicate for direct contact with consumable products. However, according to the OSHA Hazard Communication Standard under 29 CFR 1910.1200, the products are classified as hazardous chemicals. Increased exposure to such products is associated with an increased risk for developing malignant mesothelioma; thus stringent government regulations are positively influencing the market growth.
Zeolite chemical compositions are extensively used in several industries, including medical, petroleum, detergents, and animal feed. Growing demand for zeolites as a platform for drug delivery is augmenting the market growth as the products are used for drug delivery owing to their hydrophilicity structures.
Europe is anticipated to register a lucrative growth rate over the forecast period.The government of Russia has developed certain scientific programs for environmental conservation with the help of zeolites by utilizing them for waste water treatment, purifying and drying of gas, and the preparation of drinking water.
This is expected to increase the demand for zeolites over the forecast years.
Rising focus on producing environmentally safe products has led to the utilization of zeolites as a replacement for phosphorus for manufacturing detergents.Zeolite detergents have proven to be more successful in the removal of dirt and any other foreign particles.
This has resulted in tremendous growth of the market.
Zeolite Market Report Highlights • Based on product, the synthetic segment is likely to register the highest CAGR of 6.6% in terms of revenue from 2021 to 2028 owing to the increasing demand for water purification and filtration • In terms of application, detergent builders held the largest revenue share of over 55.0% in 2020 and are expected to maintain their position over the forecast period. This can be credited to the growing detergent industry owing to the rising concern sover cleanliness • Europe held the second-largest share in 2020 in terms of revenue on account of the rising preference for capacity expansions by producers, especially in the chemical industry • In North America, the U.S. held the largest revenue share of over 75.0% in 2020. Rising advancement in the medical industry, particularly for the drug delivery systems, is expected to prove fruitful for the market growth during the coming years
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