- The booming construction industry and the overwhelming demand for paints and coatings across the construction industry will prove to be prominent growth generators for the specialty zeolites market
- Specialty zeolites market expects to expand at a CAGR of 3.2 percent during the tenure of 2019-2027
ALBANY, N.Y., April 21, 2021 /PRNewswire/ -- The construction industry is witnessing tremendous advancements across a large number of regions around the world. The rising disposable income of people across the globe and the expanding number of construction activities due to the magnifying prevalence of rural-to-urban migration will bode well for the growth of the specialty zeolites market. Thus, all these factors are indirectly responsible for the growth of the specialty zeolites market.
Specialty zeolites are used extensively across the construction industry to create and develop lightweight and high-performance concrete. The absorbing properties of zeolites help in increasing the strength and curing time. Thus, the properties attached to specialty zeolites bring good growth prospects.
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The industrialization boom across various regions, especially in countries like India and China will also bring immense growth opportunities. The growing influence of foreign direct investments in developing economies is also playing a pivotal role in increasing the growth rate of the specialty zeolites market.
As per the findings by the Transparency Market Research (TMR) team, the specialty zeolites market is anticipated to record a CAGR of 3.2 percent across the forecast period of 2019-2027. The global specialty zeolites market was valued at US$ 44 mn in 2018.
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The rising focus of many construction companies toward constructing green and sustainable buildings will bring profitable growth opportunities for the specialty zeolites market. Furthermore, the growing focus of a large number of government bodies on reducing the concentration of volatile organic compounds (VOCs) in paints and coatings will also bring immense growth prospects.
Key Findings of the Report
Varied Government Initiatives on Green Buildings to Bring Good Growth Prospects
The government bodies of various countries are increasing their focus on promoting sustainability across every aspect. The construction industry is no exception. The government bodies are encouraging all the builders to embrace sustainable practices in construction activities. Furthermore, the growing popularity of green buildings among a large number of countries and regions will also prove to be a vital growth-generating factor. Thus, all these factors will bring promising growth opportunities.
Growing Demand for Plastic Usage to Invite Promising Growth
The demand for plastic has increased intensively. Specialty zeolites are used as additives in plastics to eliminate the odor and adsorb volatile compounds. These properties make them ideal for use in plastics. The use of plastics has increased considerably over the years. Thus, the expanding demand for plastic is directly proportional to the growth of the specialty zeolites market.
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Developing Economies to Accelerate Demand for Specialty Zeolites
Developing economies like India and China are witnessing a high tide in terms of urbanization and industrialization. The increasing number of construction activities across different areas in these countries will help in boosting the growth prospects of the specialty zeolites market. Furthermore, developed economies also contribute considerably in context of growth to the specialty zeolites market.
Specialty Zeolites Market: Growth Drivers
- The construction sector is witnessing a boom due to the rising urbanization and industrialization across various regions. This factor will prove to be a considerable growth factor for the specialty zeolites as it is used in various materials related to construction.
- The rising usage of specialty zeolites in paints and coatings will also invite exponential growth
Specialty Zeolites Market: Major Players
- Zeolyst International
- BASF SE
- Albemarle Corporation
- Honeywell International Inc.
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