Synthetic Molecular Sieve Market Trends and Forecast
The future of the global synthetic molecular sieve market looks promising with opportunities in the air separation, petroleum refining, petrochemical, refrigerant, and natural gas markets. The global synthetic molecular sieve market is expected to grow with a CAGR of 4.3% from 2024 to 2030. The major drivers for this market are growing global demand for refined petroleum products and specialty chemicals, rising focus on environmental regulations and sustainability goals, and increasing need for efficient separation technologies that can selectively remove contaminants and moisture from gases.
• Lucintel forecasts that zeolite A is expected to witness the highest growth over the forecast period.
• Within this market, air separation is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Synthetic Molecular Sieve Market
• United States: In 2024, Honeywell UOP announced a new line of synthetic molecular sieves aimed at improving natural gas processing. The U.S. Department of Energy set a target to increase molecular sieve applications in carbon capture technologies by 20% by 2025.
• China: Shanghai Huisheng Group expanded its production capacity of synthetic molecular sieves by 30% in early 2024. The Chinese government announced incentives for companies investing in energy-efficient materials, targeting a 15% increase in the use of molecular sieves in industrial applications by 2026.
• Germany: In 2023, BASF SE introduced an advanced synthetic molecular sieve for the automotive industry to enhance emission control systems. The German Federal Ministry for Economic Affairs set a goal to reduce industrial emissions by 10% through the increased use of molecular sieves by 2025.
• India: Zeolite India launched a new plant in Gujarat in 2023, aiming to meet the growing domestic demand for synthetic molecular sieves. The Indian government announced a subsidy program to support chemical industries, aiming for a 25% growth in the production of molecular sieves by 2027.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Synthetic Molecular Sieve Market by Segment
The study includes a forecast for the global synthetic molecular sieve market by type, application, and region.
Synthetic Molecular Sieve Market by Type [Value from 2018 to 2030]:
• Zeolite A
• Type X
• Type Y
• Ultra-Stable Y(USY)
• Zsm-5
Synthetic Molecular Sieve Market by Application [Value from 2018 to 2030]:
• Air Separation
• Petroleum Refining
• Petrochemicals
• Refrigerants
• Natural Gas
Synthetic Molecular Sieve Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Synthetic Molecular Sieve Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies synthetic molecular sieve companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the synthetic molecular sieve companies profiled in this report include-
• Albemarle
• BASF
• Honeywell
• Clariant
• W. R. Grace
• Tosoh
• Union Showa
• Zeochem
• KNT Group
• Arkema
Recent Development in the Synthetic Molecular Sieve Market
• Honeywell International Inc. Expansion: In 2023, Honeywell announced the expansion of its molecular sieve production facility in Shreveport, Louisiana. This expansion aims to meet the growing global demand for molecular sieves in gas processing and petrochemical applications.
• Zeochem AGÄX%$%Xs New Plant: Zeochem AG, a leading manufacturer of molecular sieves, inaugurated a new production plant in Zvornik, Bosnia, in early 2023. This facility is set to enhance the companyÄX%$%Xs production capacity and reduce lead times for European and global markets.
• ArkemaÄX%$%Xs Acquisition of Molecular Sieves Business: Arkema, a specialty chemicals company, completed the acquisition of a molecular sieves business from a European competitor in mid-2023. This acquisition is expected to strengthen ArkemaÄX%$%Xs product portfolio and expand its market presence in the synthetic molecular sieve sector.
• BASFÄX%$%Xs Investment in R&D: BASF SE, a major player in the chemical industry, announced a significant investment in research and development for advanced molecular sieve technologies in late 2023. This investment focuses on creating more efficient and environmentally friendly sieves for various industrial applications.
• ClariantÄX%$%Xs EcoTain® Label for Molecular Sieves: Clariant introduced its EcoTain® label for a new line of sustainable molecular sieves in 2023. The EcoTain® label signifies ClariantÄX%$%Xs commitment to sustainability, highlighting products that offer exceptional performance while reducing environmental impact.
Features of the Global Synthetic Molecular Sieve Market
Market Size Estimates: Synthetic molecular sieve market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Synthetic molecular sieve market size by type, application, and region in terms of value ($B).
Regional Analysis: Synthetic molecular sieve market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the synthetic molecular sieve market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the synthetic molecular sieve market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for synthetic molecular sieve market?
Answer: The global synthetic molecular sieve market is expected to grow with a CAGR of 4.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the synthetic molecular sieve market?
Answer: The major drivers for this market are growing global demand for refined petroleum products and specialty chemicals, rising focus on environmental regulations and sustainability goals, and increasing need for efficient separation technologies that can selectively remove contaminants and moisture from gases.
Q3. What are the major segments for synthetic molecular sieve market?
Answer: The future of the global synthetic molecular sieve market looks promising with opportunities in the air separation, petroleum refining, petrochemical, refrigerant, and natural gas markets.
Q4. Who are the key synthetic molecular sieve market companies?
Answer: Some of the key synthetic molecular sieve companies are as follows:
• Albemarle
• BASF
• Honeywell
• Clariant
• W. R. Grace
• Tosoh
• Union Showa
• Zeochem
• KNT Group
• Arkema
Q5. Which synthetic molecular sieve market segment will be the largest in future?
Answer: Lucintel forecasts that zeolite A is expected to witness the highest growth over the forecast period.
Q6. In synthetic molecular sieve market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the synthetic molecular sieve market by type (zeolite A, type X, type Y, ultra-stable Y(USY), and ZSM-5), application (air separation, petroleum refining, petrochemicals, refrigerants, and natural gas), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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