Ahigh volume of players are currently present in the global specialtyzeolites market, as stated in a research report released byTransparency Market Research. The leaders of the market for 2015 – TosohCorporation, Arkema Group, BASF SE, and W.R. Grace & Co. – held acollective share of 34.7% in its overall value. The players in the market arespread out in terms of size, thereby creating a wide and diverse number ofenterprises. The leaders of the global specialty zeolites market are largelyconcerned with the applications of technological innovations that will give wayto reducing processing costs and introduce high-quality products on acommercial level.
Accordingto a research publication by Transparency Market Research, the global specialtyzeolites market is expected to hold a strong degree of competition among keyplayers. The majority of the players in the market depend on goodwill and theformation of long-terms contracts for sustainable business. By 2020, the globalspecialty zeolites market is expected to reach US$53.4 mn in terms of sales.Its sales figure is projected at a CAGR of 3.2% within a forecast period from2014 to 2020, and was calculated to reach 41.3 mn at the end of 2016.
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APAC Demand Continues to Surge
AsiaPacific has been the leading consumer of specialty zeolites in and since 2013,and is likely to remain in the lead for the coming years. The region took up amassive 40% of the market in 2013 and the demand is being fuelled by severalverticals. A huge scope of growth was present in the global specialty zeolitesmarket in the application segment of detergents. Governments, environmentagencies, and a growing number of environment conscious consumers have beensupporting the use of specialty zeolites over phosphates in detergents, due tothe harmful effects the latter can have on the environment.
Over time,the global specialty zeolites market took over the lion’s share in detergentapplications and the growth rate for the market in this particular segment hasslowed since. Players in the market are now moving towards adsorbents, anothersegment considered to be high opportunity.
Construction and AdsorbentsIndustries Boost Usage of Specialty Zeolites
“Specialtyzeolites have consistently found a solid scope of demand from the constructionindustry. The surge in construction activities in construction across the worldand across different sectors is currently the leading factor contributing tothe increasing revenue stream of the global specialty zeolites market,” statesa TMR analyst. Urbanization is a key proponent of the construction industry andconsequently, the global specialty zeolites market. This can be seen across theswiftly growing urban areas in China, India, and Brazil.
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Anotherfactor promoting the global specialty zeolites market at the moment is thegrowing demand for them from the global paints and coatings industry, which isagain, directly driven by the construction industry. The demand for specialtyzeolites takes a positive turn due to the increasingly stringent regulationsregarding the use of volatile organic compounds. A similar hike in demand forspecialty zeolites can be seen in the plastics industry.
High Cost of Specialty ZeolitesInhibits Potential Growth Rate
One of thekey factors hindering a more favorable growth rate for the global specialtyzeolites market is the high product costs. Specialty zeolites are known to bemuch more expensive than basic synthetic zeolites or even natural zeolites, dueto the increased complexity of manufacturing. At the same time, the globalspecialty zeolites market is being restricted by the increasing availability ofsubstitutes, especially silica gels and activated carbon. Both substitutes arefinding a greater range of use in the paints and coatings industry,jeopardizing the overall demand for specialty zeolites in it.
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