In 2015, Europe accounted for largest specialty zeolites market share, followed by North America and Asia Pacific. However, North America and Europe shall witness moderate gains from 2016 to 2024 due to prevalence mature end-user industries in the region.
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Asia Pacific countries possess high potential growth owing to the robust economic growth, infrastructural boom and rapid industrialization & urbanization. China is investing heavily in infrastructural development mostly in construction of healthcare centers and commercial institutions. India is likely to show substantial growth in construction sector, surpassing the demand from China, which is going to boost the regional specialty zeolites market size by 2024.
The product finds applications in the cosmetic industry as an essential ingredient in makeup, skin care and bath products. Rise in disposable income of people across the globe along with improving consumer spending pattern is likely to drive the personal care industry and eventually raising the product demand across the globe. In addition, the personal care business will display positive growth due to increased awareness among consumers about hygiene and other health & beauty related products.
The manufacturing process of product is highly complex, which makes it more expensive than other forms of zeolites. This high product cost is a hurdle in the specialty zeolites market growth. Moreover, the increasing demand for the product substitutes such as silica gel and activated carbon in the paints & coatings and construction materials industry is resulting into fading product demand. Both the substitutes are comparatively inexpensive and are thus preferred over the product. On the other hand, specialty zeolites industry share contributors are putting efforts in research & development for discovering some new properties and prospective applications of the product. In addition, high product features such as superior cation exchange ability, crystalline structure and chemical composition will pave new specialty zeolites industry growth opportunities by 2024.
The major end-users of specialty zeolites market size are plastics, paints & coatings, construction material and personal care industry. The product is used to make construction materials that satisfy requirements of energy efficient and green buildings. It is also used in preparation of high-performing light-weight concrete used for construction activities. Increasing government initiatives towards promoting energy efficient or green buildings will subsequently boost the product demand, thereby boosting the specialty zeolites market size by 2024. Across paints & coatings, the product is widely used in odor control, as it helps in adsorbing toxic substances such as ammonia, ammonium and hydrogen sulfide, which makes it useful for the paints & coatings industry.
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At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the specialty zeolites market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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Key specialty zeolites market share contributors are Honeywell UOP, Tosoh Corporation, Zeochem AG, BASF SE, Arkema Group, Clariant, Albermarle Corporation, Zeolyst International and W. R Grace & Company. These major players in the industry has presence across multiple stages of the industry ecosystem, which offers them competitive advantage in the business.
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