The global zeolite for detergent market is expected to reach a market valuation of US$ 1.7 Bn by 2028 in terms of sales revenue, registering a modest CAGR of 2.6% during the forecast period (2018-2028), according to a new report by Future Market Insights, a premier market research firm delivering actionable insights to key stakeholders, globally. Predominant factors such as growing demand for detergents, rising government regulations on phosphate detergent builders, and escalating need for natural product are likely to push the zeolite for detergents market in the coming years.
To support sustainability initiatives, governments of emerging and developed countries and end-use industries have increased the use of bio-based chemicals and are focusing on the development of alternative materials. Zeolites being eco-friendly builder materials for detergents and less hazardous compounds are being increasing used in the detergent industry. Rising need for non-toxic products is expected to be a primary factor for product growth over the forecast period. Moreover, cost effectiveness and high efficiency, among others, have resulted in increased demand for zeolite in detergents products.
Fairly Performing Zeolite for Detergents Market in NA to be Highly Import-Oriented
In terms of market share and CAGR index, North America is anticipated to hold a significant share. The zeolite for detergents market in India is projected to be low volume and high growth country owing to market fragmentation- controlled by a number of small players. Eastern and Western Europe, relatively mature markets, will register slow growth rate during the forecast period. However, the North American and European markets are highly dependent on imports. Further, the low availability of low price raw materials in these regions affects the production of zeolites in these regions, owing to which zeolites are mainly imported from China.
“In zeolite manufacturing, the cost of raw material accounts for a significant share- around 79% – 81%. However, this cost of raw material varies with availability w.r.t. regions/country. In China, abundant availability of raw materials has resulted in low price of finished products i.e. zeolites. Also, in terms of production, China dominates the global zeolite market”- Research Specialist, Chemicals Industry, Future Market Insights.
Customized Product Offerings to Target Direct End Users to Remain Key Market Strategy
According to a comprehensive evaluation and assessment of the competition in the global Zeolite for detergents market, PQ Group Holdings Inc. and Chalco Shandong Advanced Material Co., Ltd are the frontrunners with the highest market share and collectively account for nearly 30% of the total market share. The tier II players mainly include private label companies like IQE Group, Anten Chemical Co., Ltd., Fujian Risheng Chemical Co. Ltd. And National Aluminium Company Limited, among others are mostly engaged in manufacture and marketing of zeolite- spread across China, Europe, and North America. In terms of market strategy, it has been observed that zeolites manufacturers are focusing on expanding their product portfolio and are offering customized products to the detergent manufacturers. This, in turn, will provide competitive edge over other zeolite manufacturers and help to enhance their presence in zeolite for detergent. Top two players PQ Group Holdings Inc. and Chalco Shandong Advanced Material Co., Ltd are likely to focus on an inorganic growth strategy in order to enhance its presence in the global market and production capacity expansion to cater to the increasing demand for zeolites from various applications, respectively. Additionally, a few key players have entered into mergers and acquisitions to increase profitability and solidify market shares as they face stiff competition from other major private holding companies
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