Zeolite Market Size, Share, Growth Analysis, By Product(Natural, and Synthetic), By Application(Catalysts, Adsorbents) - Industry Forecast 2024-2031

Zeolite Market size was valued at USD 12.6 billion in 2021 and is poised to grow from USD 13.2 billion in 2022 to USD 21.7 billion by end of 2030, at a CAGR of 6.2 % during the forecast period (2023-2030).

The increasing investments in expanding petrochemical manufacturing as well as industry expansion for detergents are considered prominent growth drivers for the global zeolite market. Zeolites are frequently used in the petrochemicals sector as a catalyst for quickening chemical reactions because of their stability, high activity, and selectivity in conversion procedures. Additionally, due to their high capacity for collecting liquid ingredients, they are frequently used in the production of detergents.

The U.S. was the largest zeolite market in North America, and it is projected that this pattern will hold during the projection period. In the upcoming years, it is anticipated that the development of petrochemical facilities, along with rising demand for agricultural products, detergents, animal feed, and water treatment, will increase product consumption in the U.S. The demand for artificial zeolite as a catalyst is anticipated to be facilitated by expanding investment in the U.S. petrochemicals sector.

In addition, Reliance Industries, Limited and the Abu Dhabi National Oil Co. (ADNOC) decided to construct a petrochemical plant in the UAE for USD 2.0 billion. The partnership will result in the creation of a new joint venture at Ta'ziz. Over the projection period, it is anticipated that rising petrochemical investment will increase product demand. However, the introduction of the coronavirus in 2020 had an impact on demand. The petrochemicals business was impacted by the social and travel restrictions that many nations put in place, and several plants had to temporarily shut down. Due to different end-use industry intensities, the petrochemicals demand was erratic across its value chain. The opening months of 2020 saw a short-term influence on the demand for zeolite globally.

US Zeolite Market is poised to grow at a sustainable CAGR for the next forecast year.