A large number of players are currently operational in the global
specialty zeolites market. For 2015, the leaders in this market were
BASF SE, Arkema Group, Tosoh Corporation, and W.R. Grace & Co.,
held a collective share of 34.7% in its overall value. The overall
player spread-out is wide and diverse with a large number of
enterprises present in all sizes. The leaders of the global specialty
zeolites market are largely concerned with the applications of
technological innovations that will give way to reducing processing
costs and introduce high-quality products on a commercial level.
According to a research publication by Transparency Market Research,
the global specialty zeolites market is expected to hold a strong
degree of competition among key players. The majority of the players
in the market depend on goodwill and the formation of long-terms
contracts for sustainable business. Although the cost of raw
materials is largely classified as volatile, the global specialty
zeolites market is relatively easy for new entrants to consider due
to the easy availability of the raw materials. However, the market is
likely to consistently face high levels of challenges from
substitutes such as activated carbon and silica gel.
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By 2024, the global specialty 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 from 2016 to 2024, and was
calculated to reach 41.3 mn at the end of 2016.
Construction
Industry Ups Demand for Specialty Zeolites
“Specialty zeolites have consistently found a solid scope of demand
from the construction industry. The surge in construction activities
in construction across the world and across different sectors is
currently the leading factor contributing to the increasing revenue
stream of the global specialty zeolites market. This is especially
visible across Latin America and Asia Pacific, two regions that are
scaling up their infrastructures in healthcare, industries,
businesses, and residential areas,” states a TMR analyst.
Urbanization is a key proponent of the construction industry and
consequently, the global specialty zeolites market. This can be seen
across the swiftly growing urban areas in China, India, and Brazil.
Another factor promoting the global specialty zeolites market at the
moment is the growing demand for them from the global paints and
coatings industry, which is again, directly driven by the
construction industry. The demand for specialty zeolites takes a
positive turn due to the increasingly stringent regulations regarding
the use of volatile organic compounds. A similar hike in demand for
specialty zeolites can be seen in the plastics industry.
High
Costs of Specialty Zeolites to Prevent Faster Market Growth
One of the key factors hindering a more favorable growth rate for the
global specialty zeolites market is the high product costs. Specialty
zeolites are known to be much more expensive than basic synthetic
zeolites or even natural zeolites, due to the increased complexity of
manufacturing. At the same time, the global specialty zeolites market
is being restricted by the increasing availability of substitutes,
especially silica gels and activated carbon. Both substitutes are
finding a greater range of use in the paints and coatings industry,
jeopardizing the overall demand for specialty zeolites in it.
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“Currently, the larger players in the global specialty zeolites
market are creating greater opportunities for themselves through the
upkeep of loyalty with existing clients. This allows them to harness
the generation of goodwill between enterprises while successfully
expanding their overall client pool. Several players are also making
the most out of opportunities through enhanced product development
programs and the diversification of application of specialty
zeolites,” adds the analyst.
The information presented in this review is based on a Transparency
Market Research report, titled, “Specialty Zeolites Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2016 - 2024.”
Key
segments of the Global Specialty Zeolites Market
Specialty
Zeolites Market: End-use Analysis
- Plastics
- Paints & Coatings
- Construction Materials
- Personal Care
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