|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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The molecular sieves market size was estimated at over USD 3,683 million in 2020, and the market is projected to register a CAGR of over 4% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. The pandemic has shattered the oil demand and sunk prices, and it is posing a significant risk for those involved in oil extraction and processing. Many molecular sieve manufacturers and raw material manufacturers extended the closure of all their operations at their manufacturing locations. The production may only restart on receiving further directions from government authorities.
- Over the short term, major factors driving the market's growth include rising awareness for the treatment of hazardous organic materials in the wastewater.
- On the flip side, the threat from chemical composites, enzymes, and other substitutes and the impact of the COVID-19 pandemic is expected to hinder the growth of the market.
- The development of anti-microbial zeolite molecular sieves is likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China and India.
Scope of the Report
Molecular sieves are adsorbents and can be used as desiccants, with uniform pore sizes. The market is segmented on the basis of shape, size, product type, end-user industry, and geography. By shape, the market is segmented into pelleted, beaded, and powdered. By size, the market is segmented into microporous, mesoporous, and macroporous. By product size, the market is segmented into carbon, clay, porous glass, silica gel, zeolite, and other product types. By end-user industry, the market is segmented into petroleum refining and petrochemicals, industrial gas production, water treatment, detergents, heating and refrigeration, automotive, pharmaceutical, nuclear, and other end-user industries. The report also covers the market size of and forecasts for the molecular sieves market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|Other Product Types|
|Heating and Refrigeration|
|Industrial Gas Production|
|Petroleum Refining and Petrochemicals|
|Plastics and Polymers|
|Other End-user Industries|
Key Market Trends
Petroleum Refining and Petrochemicals Segment to Dominate the Market
- Molecular sieves are majorly used in the petroleum refining industry. Ethanol is the backbone of the automotive industry and a major contributor to the world economy.
- During the distillation process, the end products are 95% pure ethanol and the rest 5% water. This 5% of water is absorbed by molecular sieve material to achieve 99% pure ethanol.
- The dehydration of cracked gasses and olefin streams is basic to abstain from solidifying or the development of hydrates amid cryogenic handling. Molecular sieves are used to remove water and other contaminants from these olefin streams. Molecular sieves are used for following petrochemical applications such as dehydration and purification of ethylene, propylene, butadiene, and other feedstock, dehydration and purification of cracked gases and liquids, naphtha feed dehydration, and drying hydrogen gas for acetylene converters.
- Zeolites are used as catalysts in the refining of crude oil into finished petroleum products. Because of their high selectivity, zeolite catalysts are often the most efficient and cost-effective methods, particularly in upgrading refinery streams into high-octane gasoline blending stock.
- According to BP PLC, the global crude oil production has increased from 3,976.9 million metric ton in 2010 to 4,484.5 million metric ton in 2019. However, the crude oil prices are going down owing to the COVID-19 impact, which is anticipated to impact the market.
- India has around 330 distilleries, which can produce over 4.8 billion liters of rectified spirits (alcohol) per year. Of this total, about 166 distilleries have the capacity to distill 2.6 billion liters of ethanol (denatured and undenatured) to be used in fuel, industrial chemicals, and beverages.
- All the above-mentioned factors, in turn, are expected to have an impact on the market studied during the forecast period.
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Asia-Pacific Region to Dominate the Market
- In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. However, due to the onset of COVID-19 in 2020, China's economic growth has reduced to 1.9% and is expected to witness recovery in 2021.
- China is one of the fastest emerging economies and is one of the biggest production houses in the world today. The country’s manufacturing sector is one of the major contributors to its economy. The Government of China expects the share of gas in total energy consumption to reach up to 14% by the end of 2030.
- India has been one of the largest producers of soaps and detergents globally. The soap manufacturing industry is one of the oldest industries operating in the FMCG sector in India, and it accounts for more than 50% of the consumer goods sector. As per recent data, there are approximately five million retail outlets selling soaps in the country, out of which 3.75 million operate in rural areas.
- The Council on Energy, Environment & Water (CEEW), in association with the 2030 Water Resources Group, is planning to improve wastewater management in India, along with increasing private investments to build wastewater treatment plants. Purification is expected to register a decent increase during the forecast period, owing to various government initiatives.
- Japan is the world’s third-largest cosmetics market. Japan has more than 2,500 cosmetics manufacturers, of which Shiseido and Kao rank 7th and 9th, respectively, among global cosmetics companies. Additionally, cosmetics for sensitive skin and natural or organic cosmetics have been registering strong growth in recent times.
- In South Korea, the production capacity of ethylene has also been rising, with the increasing investments to set up new ethylene plants. With the rising olefin production in the country, olefin derivatives, such as polyethylene and polypropylene, are also likely to increase.
- However, the COVID-19 pandemic has caused significant disruptions in the domestic market. This pandemic has heavily impacted the manufacturing sector in the region during 2020.
- Therefore, the abovementioned factors are expected to aid the demand for molecular sieves in the Asia-Pacific region in the coming year's post-recovery.
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The molecular sieves market is fragmented in nature. Some of the major players in the market include Honeywell International Inc., Arkema, ZEOCHEM AG, W. R. Grace & Co.-Conn., and Tosoh Corporation, among others.
- In May 2020, Honeywell International Inc provided services, equipment, and adsorbents for HyPower’s fuel cell projects.
- In April 2020, Honeywell International Inc. announced that Shenghong Petrochemical Group would use Honeywell International Inc.'s polybed pressure swing adsorption (PSA) units. The PSA process uses proprietary Honeywell International Inc.'s adsorbents to remove impurities.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Demand for Processing from the Oil and Gas Industry
4.1.2 Rising Awareness About Treatment of Hazardous Organic Materials in Wastewater
4.2.1 Threat from Chemical Composites, Enzymes, and Other Substitutes
4.2.2 Impact of the COVID-19 Pandemic
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Production Analysis
4.6 Price Analysis
5. MARKET SEGMENTATION
5.3 Product Type
5.3.3 Porous Glass
5.3.4 Silica Gel
5.3.6 Other Product Types
5.4 End-user Industry
5.4.1 Agricultural Products
5.4.2 Air Purification
5.4.6 Heating and Refrigeration
5.4.7 Industrial Gas Production
5.4.9 Petroleum Refining and Petrochemicals
5.4.11 Plastics and Polymers
5.4.12 Water Treatment
5.4.13 Other End-user Industries
22.214.171.124 South Korea
126.96.36.199 Australia & New Zealand
188.8.131.52 Rest of Asia-Pacific
5.5.2 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.5.4 South America
126.96.36.199 Rest of South America
5.5.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.3 BASF SE
6.4.4 Cabot Corporation
6.4.7 Dalian Absortbent Co. Ltd
6.4.8 Desicca Chemicals Pvt. Ltd
6.4.9 Hengye Inc.
6.4.10 Honeywell International Inc.
6.4.11 JIUZHOU CHEMICALS
6.4.12 KNT Group
6.4.13 Kuraray Co. Ltd
6.4.14 Luoyang Jalon Micro-Nano New Materials Co. Ltd
6.4.15 Merck KGaA
6.4.16 SHOWA DENKO K.K.
6.4.17 Sorbead India
6.4.18 Tosoh Corporation
6.4.19 W. R. Grace & Co.-Conn.
6.4.20 ZEOCHEM AG
6.4.21 Zeolyst International
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Nano-size Zeolite Molecular Sieves for Medical Oxygen Concentration
7.2 Development of Anti-microbial Zeolite Molecular Sieves
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Frequently Asked Questions
What is the study period of this market?
The Molecular Sieves Market market is studied from 2016 - 2026.
What is the growth rate of Molecular Sieves Market?
The Molecular Sieves Market is growing at a CAGR of >4% over the next 5 years.
What is Molecular Sieves Market size in 2016?
The Molecular Sieves Market is valued at 3683 Million USD in 2016.
Which region has highest growth rate in Molecular Sieves Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Molecular Sieves Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Molecular Sieves Market?
Tosoh Corporation, W. R. Grace & Co.-Conn., ZEOCHEM AG, Arkema , Honeywell International Inc are the major companies operating in Molecular Sieves Market.