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The molecular sieves market size is forecast to increase by USD 596.3 at a CAGR of 5.56% between 2023 and 2028. The market is experiencing significant expansion due to various driving factors. Primarily, the increasing demand for molecular sieves as catalysts in industries such as petrochemicals and refining is fueling market growth. Additionally, the nuclear waste and wastewater treatment sectors present substantial opportunities for molecular sieves, given their ability to adsorb gases and liquids selectively. Furthermore, the global adsorbents market, of which they is a key component, is projected to expand at a robust rate, providing further impetus to the market.
It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Application in nuclear waste and wastewater treatment is the key factor driving the development of the market. They have many applications in the treatment of nuclear waste as well as wastewater. Due to the high demand for water for industrial and civil purposes, wastewater treatment has become extremely important. Molecular sieves are considered excellent adsorbents and hence the increasing demand for wastewater treatment is driving the market.
In addition, molecular sieves are used in advanced reprocessing methods, where microporous sieves help to capture specific ions and allow other ions to pass freely. They effectively remove fission products from nuclear waste. Upcoming nuclear projects in Europe, combined with increasing safety measures for existing nuclear power plants in Japan, are expected to further boost demand during the forecast period.
Growing demand in the packaging industry is one of the major market trends. The packaging industry is increasingly using to extend the shelf life of packaged foods, especially when product appearance is important. This is achieved by removing the moisture present in the environment during packaging. Food waste due to spoilage is a serious problem in many areas. Therefore, the use in packaging can greatly reduce this problem without compromising the visual appeal of the product.
Furthermore, they are gaining acceptance in the food and beverage industry as they can improve shelf life and preserve food flavor and quality longer. They are in the form of small granules that are packed in paper bags and used in food packaging. Therefore, the rising demand is expected to propel the growth of the market during the forecast period.
The presence of alternatives is a challenge that affects the growth of the market. Molecular sieving is used as an alternative method to remove CO2. However, the use of substitutes like titanium and other metal oxide products is expected to gradually increase, thus slightly affecting the use of molecular sieve adsorbents. In addition, activated carbon has been shown to be a very versatile adsorbent capable of removing a wide variety of pollutants, including metal ions, dyes, phenols, a number of organic and inorganic compounds, and other biological organisms.
Moreover, some natural materials, such as natural minerals, and agricultural and industrial wastes, have adsorbent properties and are available in large quantities. The abundant availability of these materials in most regions and their low cost make them suitable as adsorbents to remove various pollutants from wastewater. Therefore, the presence of such alternatives may hinder the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Resonac Holdings Corp.: The company offers molecular sieves under the subsidiary of Showa Denko K. K.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The 3A segment is estimated to witness significant growth during the forecast period. Molecular sieve 3A is an alkali metal aluminosilicate with a pore size of about 3A. Grade 3A segment products are produced when sodium ions are replaced by potassium ions present in the crystal structure of the molecular sieve. The main component of a grade 3A molecular sieve is aluminosilicate. Molecular sieve 3A is mainly used to remove moisture from liquefied gas.
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The 3A segment was the largest segment and was valued at USD 646.70 million in 2018. The advantages of 3A molecular sieves are high crushing resistance, high pollution resistance, and a high number of cycles, which ensures a long product life. Molecular sieve 3A retains most of the molecules except water, making them highly selective. These granules also offer the advantage of high crushing resistance, durability, and adsorption rate. All these advantages have made Molecular Sieve 3A a popular desiccant in the field of gas and propylene polymerization, as well as for the deep drying of ethylene and any other non-acid gas or liquid in the chemicals and petroleum industry. Thus, such factors will drive the growth of the segment during the forecast period.
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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growing demand from emerging countries such as India and China is driving the molecular sieve market in the region. As the fourth largest natural gas producer, China has a great demand for natural gas processing. High production of petroleum products in countries such as China and India has spurred demand for drying and refining raw materials and organic gases.
In addition, the steady growth of the construction industry in this region will drive the growth of the regional market. In India, the Smart Cities Mission initiative carried out by the Indian government has boosted the country's infrastructure development. Furthermore, increasing fuel consumption, especially in countries such as India, China, Japan, South Korea, and Indonesia, is also boosting the oil and gas industry. The growth of the oil and gas industry in the APAC region is estimated to drive the growth of the molecular sieve market in the region during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Silica Gel Market: Silica Gel Market by Application, Product Type, and Geography - Forecast and Analysis
Desiccant and Adsorbent Market: Desiccant and Adsorbent Market by product and Geography - Forecast and Analysis
Homecare Oxygen Concentrators Market: Homecare Oxygen Concentrators Market by Product, Technology, and Geography - Forecast and Analysis
The market plays a pivotal role in petrochemical applications, facilitating processes such as feedstock dehydration and butadiene purification. With their ability to selectively adsorb molecules, molecular sieves are crucial in removing water from cracked gas and naphtha feed, ensuring the quality of hydrogen gas and gasoline blending stock. In the oil and gas business, molecular sieves contribute to enhancing oil refinery throughput and capacity, optimizing oil output, and supporting oil exploration efforts. Beyond the energy sector, they find applications in producing plastic products, cosmetics, and catering to the FMCG sector. In the automotive and transport sectors, molecular sieves play a role in addressing water concerns, preventing corrosion in automobile parts, and serving as effective desiccants for transportation and storage.
The market thrives on its applications in various sectors, including the oil and gas sectors where they are crucial for naphtha feed dehydration and enhancing oil refinery capacity using zeolite catalysts. In transportation, molecular sieves are integral to air braking systems in buses and trains, ensuring safety and efficiency. These versatile sieves also find applications in the oil and petrochemical sectors, meeting regulatory rules with environmentally friendly molecular sieves. Moreover, in the medical field, they aid in the regulated release of drugs and water treatment operations, purifying water streams, and eliminating contaminants. With international trade driving demand, molecular sieves are utilized in diverse industries ranging from electronics to aerospace, offering cutting-edge technology for superior materials and technologies.
Market Scope |
|
Report Coverage |
Details |
Page number |
188 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.56% |
Market growth 2024-2028 |
USD 596.3 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.15 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 44% |
Key countries |
US, China, Russia, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Grade Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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