Key Highlights of Global Specialty ZeolitesMarket
· Specialtyzeolites are used as adsorbent to remove volatile organic compounds andeliminate undesirable odors in thermoplastics and thermoplastics elastomers.
· Specialtyzeolites are added to plastics as an additive, and they do not change thechemical, physical, and mechanical properties of plastics.
· Specialtyzeolites are employed in paints and coatings due to their high adsorptioncapacity. These are used in various types of paints such as marine paints andpolyurethane paint.
· Theglobal specialty zeolites market was valued at US$ 44 Mn in 2018 andis anticipated to expand at a CAGR of 3.2% during the forecastperiod
· Europeaccounts for major share of the global specialty zeolites market, led by highdemand for paints & coatings in construction industry.
Key Drivers of Global Specialty Zeolites Market
· Stringentregulations on eliminating volatile organic compounds in paints and coatings islikely to augment the demand for specialty zeolites during the forecast period.
· Specialtyzeolites can be used to make lightweight blocks for construction and decorativewalls. Usage of energy efficient building materials has increased significantlyover the last few years and specialty zeolites can offer significantopportunities to develop new construction materials.
· Specialtyzeolites are used in the construction industry to prepare high performance,lightweight concrete. The porous structure of zeolites holds water whichincreases curing time and also increases strength during curing.
· Paints& coatings was one of the highly lucrative segments of specialty zeolitesin 2018. Specialty zeolites are used as adsorbent to remove volatile organiccompounds and eliminate undesirable odors in thermoplastics and thermoplasticselastomers.
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Increasing Usage in Plastics to Boost Opportunitiesfor Global Specialty Zeolites Market
· Specialtyzeolites are employed as additives in plastics to remove undesirable odor. Theyare also used to adsorb volatile compounds.
· Specialtyzeolites do not alter or change the physical, mechanical, and chemicalproperties of the product when used as additives. Implementation of stringentenvironmental regulations on the emission of volatile organic compounds isprojected to augment the specialty zeolites market in the near future.
· Inaddition, increasing demand for specialty zeolites is high in China, Japan, andIndia owing to their usage as adsorbents in paints & coatings and plasticsapplications is also acting as an opportunity for manufacturers.
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Availability of Substitutes to Hamper GlobalSpecialty Zeolites Market
· Silicagels and activated carbon are used for adsorption in paints & coatingsapplications. Furthermore, activated carbon is employed as adsorbent in themanufacture of plastic resins and synthetic fibers.
· The usageof silica gels and activated carbon has increased since the last few years asthese offer high efficiency. Rise in usage of these products is likely tohamper the demand for specialty zeolites during the forecast period.
Europe Dominates Global Specialty Zeolites Market
· Marketdynamics of specialty zeolites are highly geography oriented and show distinctivetrends in different geographies. In terms of region, Europe accounted for majorshare of the global specialty zeolites market in 2018 followedby Asia Pacific and North America.
· AsiaPacific is projected to be a highly promising market for specialty zeolitesduring the forecast period. The construction industry is recovering due to therise in commercial construction and infrastructure activities in key countriesin Asia Pacific such as China, India, Malaysia, Singapore, and Thailand.
· China isinvesting significantly in infrastructure, especially in the construction ofnew health care and commercial institutions. India is projected to depictmarket growth much greater than China by 2027, owing to theexpanding urban population and increasing government investments ininfrastructure development.
· Thespecialty zeolites market in Middle East & Africa is estimated to offercomparatively less growth opportunities due preference for other adsorptionproducts over specialty zeolites. Increase in demand for consumer goods andautomobiles across the globe is estimated to boost the paints & coatingsand plastics markets. All these factors are projected to drive the specialtyzeolites market during the forecast period.
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Fragmented Nature of Global SpecialtyZeolites Market
· Keycompanies operating in the specialty zeolites market include TosohCorporation, Arkema Group, BASF SE, Clariant, W. R. Grace & Co., AlbermarleCorporation, Zeochem AG, Zeolyst International, Eurecat and Honeywell UOP.
· Majorplayers in the global specialty zeolites market have entered into long-termsupply agreement with distributors in order to strengthen their position in themarket.
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