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"The Demand for Specialty Zeolites is anticipated to Expand or Exhibit a CAGR of 2.4% During the Forecast Period."
The specialty zeolites are specialty synthesis zeolites, of high-pressure synthesis. During the period of crystallization or synthesis, there is an addition of some specialty compounds. A lesser amount of specialty zeolites are applied in the adsorption process of plastics, paints & coatings, construction materials, and personal care. An increase in the application of specialty zeolites is among the paints and coatings industry which is a vital aspect contributing to the market share. The applicability of specialty zeolites is in the reduction of odor and contribution for enhancing the adsorption organic compounds that are volatile. Because of the enforcement of strict government policies for eliminating the volatile organic compounds which are existing in paints and coatings that stimulate the applicability of specialty zeolites market.
Wide application in specialty zeolites in the construction industry because of their wide usage among manufacturing blocks that are light in weight utilized for construction. These have a significant consumption in the manufacturing of lightweight concrete that has high standards. Contributing to the advantages when specialty zeolites are used the market is growing among the emerging countries because of advancements in the construction projects. The specialty Zeolites market is surging by demand because of the end-user industry demands that are of different sectors. The prevalence of specialty zeolites along with other adsorbents and its increasing applications of silica gel and activated carbon is restraining the growth of the specialty zeolites market.
The specialty zeolites market is estimated to have extensive growth by the contribution of a large number of companies in maximizing their market share. Prominent organizations offering these products are entering into different markets by the support of various strategic entry modes for a competitive edge in the market. Thus such organizations have significant opportunities that are being embraced by them through the development of infrastructure. The specialty zeolites market has a substantial growth with potential players advancing their offerings by technological growth. Organizations are catering with a wide range of products in order to increase their credibility and have a higher market value. These vendors are also expanding their geographical presence among the developing countries to gain high profitability in this market share.
By Application, the Paints & Coatings Segment is expected to grow in Demand during the Forecast Period.
The use of Specialty Zeolites is significant among high volatile organic components (VOC) adsorbents among the industrial and paints & coatings. As well as they are mostly adopted in thermoplastics, duroplastics, fibers, films, coatings, lacquers, inks, paints or construction materials, etc. Amid of different end-users worldwide, the specialty zeolites market for paints & coatings segment led the market in revenue generation, which is followed through segments of construction materials and plastics. The applicability of Zeolites in paints and coatings industry has seen a surge 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 including specialty zeolites is considerably growing in recent years.
The Specialty Zeolites Market in the Asia Pacific Accounted for the Fastest Growing Market in 2018 and is Expected to Remain Dominant during the Forecast Period.
The Asia-Pacific region is projected to grow in the specialty zeolites market. Such growth of the specialty zeolites market is supported by the construction industry and public infrastructure projects of this region. The market of China for specialty zeolites is high because of the growing real estate industry and its proliferating with a rising investment of government. In the recent past, the Chinese real-estate market has significantly grown by 30% and has steady performance. The region is developing in terms of the economy contributing to the growth of various industries in this region had stimulated the significance of specialty zeolites. Additionally, in India the various flagship programs held 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., which are to act as growth drivers for construction industry increasing the consumption of specialty zeolites in the country.
The competition in the Specialty Zeolites product producing companies is 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 specialty 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.
Key segments of the Specialty Zeolites market:
- Paints & Coatings
- Personal Care
- North America
- Asia pacific
- Middle east and Africa
- Latin America