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The molecular sieves market size is forecast to increase by USD 596.3 million at a CAGR of 5.56% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for these materials as catalysts in various industries. Molecular sieves are highly porous crystalline desiccants that selectively adsorb gases and liquids based on their size and shape. Their unique properties make them indispensable in applications such as gas dehydration, air separation, and petrochemical processing. One of the major industries driving the market growth is the oil and gas sector, where molecular sieves are extensively used for natural gas dehydration and the separation of hydrocarbon gases. However, the market also faces challenges, including the risks associated with the use of molecular sieves.
These risks include the possibility of leakage or rupture of molecular sieve vessels, which can lead to catastrophic consequences. Additionally, the high cost of production and the availability of alternative desiccants are other factors limiting the market growth. Despite these challenges, the market is expected to continue its growth trajectory due to the increasing demand for molecular sieves in various end-use industries.
The market is witnessing significant growth due to their extensive applications in various industries. In the petrochemical sector, molecular sieves are widely used as catalysts for the production of ethylene, propylene, and butadiene. They play a crucial role in feedstock dehydration, particularly in the removal of water from cracked gas and naphtha feed. Hydrogen gas production also utilizes molecular sieves as desiccants to remove moisture. In the oil refinery industry, molecular sieves are employed to enhance oil refinery throughput and capacity, leading to increased oil output. They find applications in oil exploration to prevent corrosion and in the production of plastic products, cosmetics, and fast-moving consumer goods (FMCG) sector.
Natural gas production relies on molecular sieves for the removal of impurities, making them essential in the transportation sector. Water concerns are addressed through molecular sieves' ability to adsorb moisture, making them valuable in various industries, including automobile parts manufacturing.
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.
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. 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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The 3A segment was valued at USD 646.70 million in 2018 and showed a gradual increase during the forecast period.
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.
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The market encompasses the production and supply of molecular sieves, primarily used as catalysts in various industries. These catalysts, predominantly zeolite-based, find extensive applications in petrochemical processes, particularly in the production of ethylene, propylene, and butadiene. In feedstock dehydration, molecular sieves are employed to remove moisture from cracked gas and naphtha feed, enhancing oil refinery throughput and capacity, and ultimately increasing oil output. Hydrogen gas generation also benefits from molecular sieves, as they facilitate the removal of impurities. Beyond petrochemicals, molecular sieves play a pivotal role in the FMCG sector, where they are used as desiccants in plastic products, cosmetics, and other applications.
In the automotive industry, they are utilized in air braking systems, buses, and trains to prevent corrosion and moisture accumulation. Natural gas production and transportation also leverage molecular sieves to purify gas streams and ensure regulatory compliance. Furthermore, they find applications in water treatment operations, medical field, and various other industries, making them an indispensable component in diverse sectors.
Our molecular sieves market researchers analyzed the 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.
The growing demand for molecular sieves as catalysts is the key driver of the market. Molecular sieves, specifically zeolites, are versatile materials widely utilized in various catalytic applications due to their unique shape-selective properties. In industrial processes, they catalyze epoxidation, alkylation, and isomerization reactions, significantly contributing to large-scale applications such as fluid catalytic cracking and hydrocracking. Zeolites exhibit remarkable acid activity, which sets them apart from their amorphous counterparts. These materials serve as supports for numerous catalytically active metals, leading to enhanced performance in numerous industrial processes. Advancements in molecular sieve technology have resulted in the synthesis of a diverse range of aluminosilicate zeolites, extending beyond the initial discovery of types A, X, and Y.
Modern techniques have emerged for identifying and characterizing these materials, and the list continues to expand with molecular sieves containing various elemental compositions. Beyond industrial applications, molecular sieves find significant use in various sectors, including healthcare and environmental solutions. For instance, zeolite Y beads, pellets, and powder are employed in medical devices for diabetes management, aiding in the elimination of excess glucose from the bloodstream. Additionally, molecular sieves are used in weight management products, such as digestive enzymes and food supplements, to help individuals manage carbohydrates and lipids. In environmental applications, molecular sieves are employed in wastewater treatment, detergents, and safety equipment.
They are also used in cutting-edge technologies like turbocharger control, sensing, and digital marketing, including social media influencing and content marketing. The market is highly fragmented, with numerous players in the Chemicals industry continually innovating and improving upon this cutting-edge technology.
The increasing uses in the oil and gas industry is the upcoming trend in the market. Molecular sieves play a crucial role in various industries, particularly in the elimination of water from natural gas streams to prevent hydrate formation and improve pipeline and process performance. These specialized materials, often made from aluminum and silicon, function by selectively adsorbing specific molecules based on their size and shape. This technology is essential in refinery processes to protect water-sensitive catalytic converters and enhance overall efficiency. International trade of molecular sieves is significant, with major suppliers originating from APAC and European countries. Consequently, numerous global vendors have established manufacturing plants in APAC to cater to the demand from oil and gas, petrochemicals, and process industries in Middle East and Africa (MEA).
The market is highly fragmented, with various types such as zeolite Y beads, pellets, and powder, as well as activated carbon, clay, coatings, and other zeolites, in use. Beyond the industrial sector, molecular sieves have applications in various fields, including medical devices for diabetes management, weight loss supplements containing digestive enzymes, and food processing for the removal of carbohydrates and lipids. Government regulations and safety concerns necessitate the use of molecular sieves in wastewater treatment, detergents, and other applications. In the realm of marketing, digital, social media, and content strategies are increasingly leveraging molecular sieves in turbocharger control, sensing, and safety equipment.
The chemicals industry continues to innovate with cutting-edge technology, further expanding the reach and utility of molecular sieves.
The molecular sieves, a type of zeolite, are widely utilized for various applications due to their unique adsorptive properties. In the field of nuclear waste management, molecular sieves are employed for the elimination of oxygen and other gases from the waste, facilitating safer international trade. In the medical sector, molecular sieves are integral to medical devices, such as insulin pumps and continuous glucose monitors, for managing health concerns related to diabetes, weight, and blood glucose levels. For individuals who are obese or overweight, molecular sieves are used in digestive enzymes, food, and beverages to absorb excess carbohydrates and lipids. Molecular sieves, available in forms like beads, pellets, and powder, are also crucial in industries such as chemicals, where they are used in the production of oxygen, aluminum, silicon, and other chemicals.
In wastewater treatment, molecular sieves are employed for the removal of impurities, while in the manufacturing of detergents, they serve as catalysts. Despite their widespread use, molecular sieves pose certain risks. They can cause skin and eye irritation due to their drying effect and generate intense heat when in contact with water. Strict government regulations govern their use due to potential health hazards from ingestion and inhalation. In the modern business landscape, digital marketing, social media influencing, and content marketing play a significant role in promoting molecular sieves. The market is highly fragmented, with cutting-edge technology companies, such as Unified Gas Systems, providing innovative solutions like turbocharger control, sensing, and safety equipment.
The molecular sieves 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 analysis strategies.
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.
AGC Chemicals Pvt. Ltd.: The company offers the renowned Siliporite molecular sieves, renowned for their exceptional performance in gas separation and adsorption processes.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key 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 market is witnessing significant growth due to the increasing demand for catalysts in various industries. Molecular sieves, primarily made of zeolite catalysts, play a crucial role in petrochemical applications such as ethylene, propylene, and butadiene production. In oil refineries, molecular sieves are used for feedstock dehydration, including cracked gas and naphtha feed dehydration, to enhance oil refinery throughput and capacity, ultimately increasing oil output. The market also caters to the natural gas production sector, where molecular sieves are employed to remove impurities, such as water and CO2, from gas streams. In the transportation sector, molecular sieves find applications in desiccants for automobile parts, buses, and trains to absorb moisture and prevent corrosion.
Moreover, molecular sieves are used in the plastics, cosmetics, and FMCG sectors for purifying water streams and gas streams, ensuring product quality. In the medical field, molecular sieves are used for water treatment operations and gas purification, adhering to regulatory rules for maintaining a clean environment. Overall, the market is expected to grow due to the increasing demand for these materials in various industries and applications.
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 growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
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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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