NEW
YORK, June 18, 2024 /PRNewswire/ -- The
global molecular sieves market size is estimated to
grow by USD 596.3 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of about 5.56% during the forecast
period. Growing demand for molecular sieves as
catalysts is driving market growth, with a trend
towards increasing uses in the oil and gas industry.
However, risks associated with molecular sieves poses a
challenge. Key market players include AGC Chemicals Pvt. Ltd.,
Arkema Group, Axens, BASF SE, Brownell Ltd., CarboTech AC GmbH, CPH
Chemie and Papier Holding AG, Desicca Chemicals Pvt. Ltd., FUJIFILM
Corp., Hengye Inc., Honeywell International Inc., KNT Group,
KURARAY Co. Ltd., Merck KGaA, Nanoshel LLC, Resonac Holdings Corp.,
SORBEAD India, Standard Industries Inc., Vizag Chemical
International, and ZR Catalyst Co. LTD..
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landscape, and companies - Click for the snapshot of this
report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Grade Type (3A, 4A,
13X, and 5A and other grades), End-user (Oil and gas industry,
Petrochemical industry, Process industries, Construction industry,
and Others), and Geography (APAC, North America, Europe, Middle
East and Africa, and South America)
|
Region
Covered
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
AGC Chemicals Pvt.
Ltd., Arkema Group, Axens, BASF SE, Brownell Ltd., CarboTech AC
GmbH, CPH Chemie and Papier Holding AG, Desicca Chemicals Pvt.
Ltd., FUJIFILM Corp., Hengye Inc., Honeywell International Inc.,
KNT Group, KURARAY Co. Ltd., Merck KGaA, Nanoshel LLC, Resonac
Holdings Corp., SORBEAD India, Standard Industries Inc., Vizag
Chemical International, and ZR Catalyst Co. LTD.
|
Key Market Trends Fueling Growth
The molecular sieve market in MEA and South America is driven by the oil and gas
industry's requirement for drying agents to eliminate moisture from
chemicals and processed ingredients. Major suppliers of molecular
sieves are based in APAC, Europe,
and North America, with many
setting up plants in APAC to cater to MEA's demand. In MEA,
molecular sieves are used as catalysts for petrochemical processes
and in Brazil's petrochemical
industry due to the presence of large oil and gas companies like
Petrobras. The expansion of oilfields in MEA and increasing use of
molecular sieves in the oil and gas industry are expected to boost
market growth.
The Molecular Sieves market has seen significant growth in
recent years due to increasing demand for gas separation and
purification applications. Plastic products and procurement of
gases are key drivers in this market. Cosmetics and personal care
industries also utilize Molecular Sieves for moisture control and
other applications. The trend towards sustainable and eco-friendly
production methods has boosted the use of Molecular Sieves in
various industries. The market for these desiccants is expected to
continue growing, with regulations and certifications playing a
role in their adoption. The use of Molecular Sieves in various
sectors, such as automotive, food and beverage, and
pharmaceuticals, is on the rise. The market for these products is
diverse and dynamic, with new applications and innovations
constantly emerging.
Research report provides comprehensive data on impact of trend.
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Market Challenges
- The molecular sieves market experiences significant growth due
to their beneficial properties, such as moisture absorption and
desiccant use in food industries. However, risks are associated
with their use. Skin and eye irritation can occur from contact with
dry molecular sieves. Ingestion or inhalation may lead to digestive
tract irritation, dehydration, respiratory issues, and long-term
health hazards like silicosis. Manufacturers must invest in
protective equipment to ensure employee safety, increasing
operational costs.
- The Molecular Sieves market faces several challenges. The
primary challenge is the high cost of production, especially for
larger pore size molecular sieves. Another challenge is the
competition from alternative desiccant materials like activated
alumina and silica gel. The market also grapples with the issue of
selectivity, as some applications require specific pore sizes and
shapes. Additionally, the market must address the challenge of
meeting increasing demand for molecular sieves in various
industries, including gas separation, water treatment, and
pharmaceuticals. Furthermore, regulatory compliance and
sustainability concerns add to the complexity of the market
landscape.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This molecular sieves market report extensively covers market
segmentation by
- Grade Type
- 1.1 3A
- 1.2 4A
- 1.3 13X
- 1.4 5A and other grades
- End-user
- 2.1 Oil and gas industry
- 2.2 Petrochemical industry
- 2.3 Process industries
- 2.4 Construction industry
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 3A-
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Molecular Sieves Market encompasses the production and
distribution of molecular sieves, a type of desiccant used for
various applications in the chemical industry. These materials,
often made from zeolite catalysts, play a crucial role in
petrochemical processes, particularly in the dehydration of
feedstocks such as ethylene, propylene, butadiene, and cracked gas.
The oil refining sector also utilizes molecular sieves for naphtha
feed dehydration and hydrogen gas production. In addition,
molecular sieves find applications in gasoline blending stocks,
plastic products, cosmetics, and the FMCG sector. Natural gas
production and transportation require moisture removal, making
molecular sieves essential for water concerns. Furthermore,
molecular sieves are used in automobile parts for moisture
absorption and in corrosion protection.
Market Research Overview
The Molecular Sieves market refers to the industry dedicated to
the production and application of desiccants and adsorbents,
specifically molecular sieves. These materials are characterized by
their unique pore structures, which allow them to selectively
adsorb gases and liquids based on their molecular size and shape.
Molecular sieves find extensive use in various industries,
including refining, petrochemicals, pharmaceuticals, and food and
beverages, for applications such as gas dehydration, air
separation, and catalyst support. The global market for molecular
sieves is driven by factors like increasing demand for cleaner and
more efficient energy, growing industrialization, and advancements
in technology. The market is segmented based on product type,
application, and region.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Grade Type
-
- 3A
- 4A
- 13X
- 5A And Other Grades
- End-user
-
- Oil And Gas Industry
- Petrochemical Industry
- Process Industries
- Construction Industry
- Others
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio