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Global specialty zeolites Market it is anticipated to expand or exhibit a CAGR of 2.4% during the forecast period
The applicability of specialty zeolites is considerable in the adsorption process of plastics, paints & coatings, construction materials, and personal care. Raised application of specialty zeolites are essentially in paints and coatings industry being an important aspect that dominated its market share. Specialty zeolites do reduce odor and contribute to increased adsorption of organic compounds of volatile nature. Imposed regulations by the government in eliminating volatile organic compounds that are constituents of paints and coatings have considerably decreased by specialty zeolites usage. Specialty zeolites application is majorly observed in the construction industry due to their enhanced benefits to the manufacturers of blocks of light weight. The specialty zeolites are heavily utilized manufacturing of lightweight concrete with high quality.
Specialty Zeolites market is anticipated to expand or exhibit a CAGR of 2.4% during the forecast period.
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By application, the paints & coatings segment is expected to grow in demand during the forecast period.
Specialty Zeolites are vital among high volatile organic components (VOC) adsorbents in industries and paints & coatings. They are extensively used in thermoplastics, duroplastics, fibers, films, coatings, lacquers, inks, paints or construction materials etc. Amid different end users globally its market for paints & coatings segment is high, that is also applicable in segments of construction materials and plastics. Paints and coatings industry has seen a surge in application of specialty zeolites in recent years. This is because of the regulations imposed by the government to decrease the amount of volatile organic compounds in paints and coatings for protecting the environment. These specialty zeolites are utilized among the lightweight construction and decorative materials. The application of energy-efficient building materials that include specialty zeolites as an ingredient is considerably growing in recent years because of its high performance.
Specialty Zeolites Market in Asia Pacific accounted for fastest growing market in 2018 and is expected to remain dominant during the forecast period.
The Asia-Pacific region is anticipated to grow for the specialty zeolites market. Growth in the specialty zeolites market could be supported by increased construction activities and public infrastructure projects in Asia Pacific. Specialty Zeolites demand in this region is high due to growth in the real estate market and its proliferation by investments of the government. In the recent past Chinese real-estate market plunged by 30% and is steady performing. The region is developing in terms of the economy contributing to growth of various industries in this region has contributed to the specialty zeolites market growth. Additionally, in India the various flagship programs by the government such as 100 Smart Cities Mission, Housing for All, Atal Mission of Urban Rejuvenation and Transformation (AMRUT), Make in India, Power for All, etc., These are contributing to the market as growth factors driving the construction industry that had surged the usage of specialty zeolites in the country.
The competition in the Specialty Zeolites product producing companies are increasing because of its versatile usage among various industries. Hence there are significant opportunities for the competitor companies in various countries that are developing due to their increased construction and infrastructure development activities.
Prominent players associated in the production of speciality zeolites are listed as follows: Tosoh Corporation, Arkema Group, BASF SE, Clariant, W. R. Grace & Co., Albermarle Corporation, Zeochem AG, Zeolyst International, Eurecat, and Honeywell UOP.
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