The latest market report published by Credence Research, Inc. is “Global Molecular Sieve Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Molecular Sieve Market generated around USD 3.7 billion in 2021 and is anticipated to grow a CAGR of over 4.1% during the forecast period from 2022 to 2028 to reach around USD 4.7 billion in 2028.
Molecular sieves are diverse materials with small pores and consistent structure and size. They are made by dehydrating artificial or naturally occurring substances like silica, zeolite, clay, etc., to create them in beaded, powdered, or pelleted form. They exclude molecules larger than the openings while adsorbing molecules of the gas or liquid smaller than the effective diameter of the pores. Molecular sieves are widely used in various industries, including detergent, water treatment, and oil and gas, due to their drying capabilities, crushing strength, contamination resistance, and a high number of utilization cycles that provide a long product life. In most industries, molecular sieves are mainly used to separate low molecular weight linear and branched-chain hydrocarbons from permanent gases (oxygen, hydrogen, carbon monoxide, nitrogen, and inert gases).
This is one of the primary drivers of market expansion. These sieves are widely used as a catalyst in the petrochemical and petroleum industries. In addition, rising environmental awareness and implementing strict government regulations that support molecular sieves as environmentally friendly all contribute to market expansion.
Another significant growth-inducing factor is anticipated to be the future uses of biopolymers molecular sieves in the health sector, such as controlled drug delivery in the human body. However, the high cost of molecular sieves and the threat of chemical composite materials, enzymes, and other alternatives are expected to impede the market growth. Nonetheless, developing nanosized zeolite molecular sieves for medical oxygen concentration may provide an opportunity for the target market.
The global molecular sieve market is bifurcated into Type, Material Type, Application, Shape, Size, End-Use Industry, and Geography. Based on the type, the global market is categorized into type 3A, type 4A, type 5A, type 13X, type Y, pentacil, and others. Based on the material type, the global market is divided into carbon, clay, porous glass, silica gel, zeolite, and others. Based on the application, the global market is segmented into catalysts, adsorbents, and desiccants.
Based on the shape, the market is categorized into pelleted, beaded, and powdered. Based on the size, the global market is divided into microporous, mesoporous, and macroporous. Based on the end-use industry, the global market is segmented into oil & gas, agricultural, chemical, pharmaceutical, water treatment, construction, and others. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Asia Pacific dominated the global molecular sieve market in 2021 and is expected to grow faster over the forecast period due to increasing regional demand for detergents and catalysts. The growing emphasis on environmental protection among many regional governments has resulted in the use of zeolites for gas streams and water purification. Rising infrastructure spending in countries like India and China is also predicted to fuel market expansion owing to growing use in the production of lightweight construction materials and as a vital element in the production of asphalt concrete mix.
Molecular sieves are a type of porous material that can be used in a variety of industrial applications. This type of material is often used to separate different types of molecules, including liquids and gases. The molecular sieve opportunities are vast, and there are many potential applications for this technology.
One potential application for molecular sieves is in the oil and gas industry. Molecular sieves can be used to remove impurities from crude oil and gas. This technology could improve the quality of these products, making them more affordable for consumers. Another potential application for molecular sieves is in the chemical industry. Molecular sieves can be used to create new types of chemicals. This technology could lead to new, more efficient products and reduce environmental impact
Why to Buy This Report-
· The report analyses the global molecular sieve market by segment, current trends, drivers, restraints, opportunities, challenges, and industry trends from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
· The report highlights the market's competitive environment, including how major players function on a national, regional, and international scale.
· In-depth analysis of the global molecular sieve market segmentation by type, material type, application, shape, size, and end-use industry.
· The report includes detailed and reliable data for all factors, such as CAGR, consumer purchasing trends, supply and demand, and import/export statistics for major regional countries.
· The molecular sieve market report includes global, regional, and country-level market analysis, key market trends, major player analysis, market growth strategies, and key application areas.
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, nonlegislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Office No 3 Second Floor,
Abhilasha Bhawan, Pinto Park,
Gwalior [M.P] 474005