Asia-Pacific Molecular Sieve Market Size

Asia-Pacific Molecular Sieve Market Analysis

The Asia-Pacific Molecular Sieve Market size is estimated at USD 1.74 billion in 2024, and is expected to reach USD 2.28 billion by 2029, growing at a CAGR of 5.58% during the forecast period (2024-2029).

The COVID-19 pandemic had negatively impacted the market due to nationwide lockdowns, strict social distancing measures, and disruption in supply chains, which negatively affected the market for molecular sieves. The COVID-19 pandemic resulted in the closure of the oil and gas exploration activities and petroleum refining centers in China and India. It, thereby, affected the market demand for molecular sieves. However, post-COVID pandemic, the market recovered well after the restrictions were lifted. The market recovered significantly, owing to the rise in demand for molecular sieves in oil and gas, pharmaceutical, automotive, cosmetics, and detergent end-user industries.

• The extensive application of molecular sieves as a catalyst in petroleum and petrochemical products and the rising awareness regarding the treatment of hazardous organic materials in the wastewater treatment industry is expected to drive the market for molecular sieves.
• The threat from chemical composites, enzymes, and other substitutes is expected to hinder market growth.
• FDA approval for usage in consumable items and the development of anti-microbial zeolite molecular sieves are expected to create opportunities for the market during the forecast period.
• China is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period due to rising demand for molecular sieves in the oil and gas, automotive, and pharmaceutical industries.