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.
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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.
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.
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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.
“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.
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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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