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The molecular sieves market size is estimated to grow by USD 525.6 million at a Compound Annual Growth Rate (CAGR) of 5.18% between 2022 and 2027. The growth of the market depends on several factors such as the growing demand for molecular sieves as catalysts, the applications in nuclear waste and wastewater treatment, and the promising growth opportunities in the global adsorbents market.
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Our researchers analyzed the data with 2022 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. Molecular sieves 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 global molecular sieve 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 molecular sieves 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, molecular sieves are gaining acceptance in the food and beverage industry as they can improve shelf life and preserve food flavor and quality longer. Molecular sieves 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, and 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 growth analysis research 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 market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth 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.
Resonac Holdings Corp.: The company offers molecular sieves under the subsidiary of Showa Denko K. K.
The market research and growth 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 614.86 million in 2017. 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 43% 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 experiences growth driven by the Automotive & Transport sectors' demand for desiccants in air braking systems and regulatory rules compliance set by OICA. It serves diverse industries, including the oil & gas segment, where biodegradable molecular sieves find applications. From the automotive industry to the medical field and water treatment operations, molecular sieves play vital roles in chemical distribution systems and oxygen production. With microporous outer layers, zeolites, clay, and end-users like coatings and detergents benefit. Asia-Pacific leads in consumption, driven by urbanization and industrialization, while the Rest of the World contributes to international trade, ensuring the market's continuous expansion.
The market forecasting report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Molecular Sieves Market Scope |
|
Market Report Coverage |
Details |
Page number |
182 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.18% |
Market growth 2023-2027 |
USD 525.6 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.98 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, Japan, Russia, 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, 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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