Zeolite Market Size, Share and Trend Analysis Report by Product, Application, Region and Segment, 2021
Zeolite Market Size, Share and Trend Analysis Report by Product (Natural, Synthetic), Application (Adsorbents, Catalysts, Detergent Manufacturers), Region and Segment Forecast, 2021-2028
New York, December 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Zeolite Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2021 – 2028” – https://www.reportlinker.com/p05399369/?utm_source=GNW
Zeolite Market Growth and Trends
The global zeolite market size is expected to reach USD 44.24 billion by 2028. It is expected to grow 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 years to come.
Zeolites are alumino-silicate minerals that are microporous in nature. The US FDA has approved the use of sodium aluminosilicate for direct contact with consumables. 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 of developing malignant mesothelioma; thus, strict government regulations positively influence the growth of the market.
The chemical compositions of zeolite are widely used in several industries including medicine, petroleum, detergents and animal feed. The increasing demand for zeolites as a platform for drug delivery is increasing the growth of the market as the products are used for drug delivery due to their hydrophilic structures.
Europe is expected to register a lucrative growth rate during the forecast period. The government of Russia has developed some scientific programs for environmental conservation using zeolites using them for wastewater treatment, gas purification and drying, and preparation of water drinks.
This is expected to increase the demand for zeolites over the forecast years.
The growing emphasis on the production of environmentally friendly products has led to the use of zeolites as a replacement for phosphorus in the manufacture of detergents. Zeolite-based detergents have been found to be more effective in removing dirt and other foreign particles.
This has resulted in huge growth in the market.
Highlights of the Zeolite Market Report
â€¢ On the basis of the product, the synthetic segment is expected to register the highest CAGR of 6.6% in terms of revenue from 2021 to 2028 due to the increasing demand for water purification and filtration.
â€¢ In terms of application, detergent manufacturers held the largest revenue share of over 55.0% in 2020 and are expected to maintain their position during the forecast period. This can be attributed to the growing detergent industry due to the growing concern over cleanliness.
â€¢ Europe held the second largest share in 2020 in terms of turnover due to the growing preference for capacity extensions by producers, especially in the chemical industry
â€¢ In North America, the United States held the largest revenue share of over 75.0% in 2020. Growing advancements in the medical industry, especially in drug delivery systems, are expected to grow. prove fruitful for the growth of the market over the next few years.
Read the full report: https://www.reportlinker.com/p05399369/?utm_source=GNW
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