The global zeolite market size isset to gain traction from its ever-increasing usage in creating laundrydetergents. Zeolite A is extensively utilized to produce phosphate-freedetergents owing to its non-toxic nature. Fortune Business Insights™ publishedthis information in a new study, titled, “Zeolite Market Size, Share& COVID-19 Impact Analysis, By Type (Natural [By Application {Construction& Building Materials, Animal Feed, Wastewater Treatment, Soil Remediation,and Others}], Synthetic [By Application {Detergents, Catalysts, andAdsorbents}]), and Regional Forecast, 2020-2027.” The studyfurther states that the market size was USD 4,326.2 million in2019 and is projected to reach USD 6,190.0 million by 2027,exhibiting a CAGR of 4.7% during the forecast period.
COVID-19 to Affect Demand Backedby Disruptions in Supply Chain
The outbreak of the COVID-19 pandemic is affecting the demand forzeolite-based products worldwide. This is occurring because of the risingdisruptions in supply chains owing to the complete lockdown in various cities.Hence, manufacturers are investing hefty amounts in sustaining their productioncapacities to boost growth. We are delivering specially curated reports thatwould enlighten you on the effects of this pandemic on the market. You canselect the best available strategy for intensifying competition.
Drivers & Restraints:
Increasing Usage in Cement andConcrete Industry to Bolster Growth
Nowadays, natural zeolite is being used more in the production ofconstruction materials, as well as in the cement and concrete industry. This isbecause it is capable of surging the durability of concrete and cementcomposites. At the same time, it can enhance mechanical strength. Also, it iseco-friendly and cost-effective which makes it the most preferable mineral inthe construction industry. However, the availability of numerous substitutes,such as enzymes and metals may hamper the zeolite market growth in the nearfuture.
Segment
Animal Feed Sub-Segment Held 28.2%Share Fueled by Usage in Additives
Based on the application, the market is bifurcated into naturaland synthetic. The animal feed sub-segment under the natural segment held 28.2%in terms of zeolite market share in 2019. This growth is attributable to therising usage of the mineral as animal feed additives for poultry, swine, sheep,cattle, and dairy cows. On the other hand, the catalysts sub-segment under thesynthetic segment generated 19.3% market share in 2019.
This Report Answers the FollowingQuestions:
- Which organization is likely to succeed and why?
- What market trends should you be aware of?
- Where should you target your business strategy?
- What business models should you adopt?
Regional Analysis
Rising Number of PublicInfrastructure Projects to Augment Growth in Asia Pacific
Geographically, North America procured USD 748.5 million in termsof revenue in 2019. The region is expected to showcase significant growth inthe coming years owing to the expansion of the animal feed industry. AsiaPacific is set to generate the highest share in terms of revenue throughout theforthcoming period on account of the increasing number of public infrastructureprojects and the rising expenditure in infrastructure development in SouthKorea, China, and India.
Competitive Landscape
Key Players Aim to Strengthen Positionsby Opening New Plants & Launching Detergents
Majority of the key companies are located in Europe and NorthAmerica. They are persistently striving to strengthen their positions bylaunching new laundry detergents equipped with zeolites or are focusing onopening new manufacturing plants to surge productivity.
Browse Detailed Summary ofResearch Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/zeolite-market-101921
