Asia-Pacific Molecular Sieve Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Molecular Sieve Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific molecular sieve market is estimated to witness a significant growth, at an estimated CAGR of over 5%, over the forecast period. One of the major factors driving the growth of the market studied is the low crude oil prices.

Key Highlights

• The rising awareness about the treatment of hazardous organic materials in wastewater is also likely to stimulate the market.
• On the flipside, the threat from chemical composites, enzymes, and other substitutes is expected to hinder the market growth.
• China is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Key Market TrendsIncreasing Usage in the Automotive Industry

• In the automotive industry, molecular sieves are used for air brake, air conditioning, and emission control systems.
• Air brake systems play a crucial role in heavy vehicles, like trucks, train, buses, and off-road vehicles. Due to continuous exposure to atmospheric conditions, like water, humidity, and industrial gases, the air brake freezes or eventually corrodes away.
• Molecular sieve helps to keep the air brake system functional, irrespective of the weather conditions.
• Emission control systems use molecular zeolites to reduce the vehicle emission levels. Zeolites are used to enhance hydrocarbon and CO oxidation, along with reduction in mono-nitrogen oxides. Adsorbents are also used to resolve the emission issues caused due to cold start.
• The automotive industry is looking to use molecular sieve for hydrogen-powered fuel cells mounted in vehicles. Hydrogen can either be compressed or liquefied to store on-board, typically on small vehicles. Hydrogen has low density, which directly increases its volume. Liquefaction of hydrogen needs an extreme cooling and excellent insulation, which is not feasible in small vehicles. Hence, use of porous adsorbents that can hold hydrogen by physisorption is a good option for this industry.
• All the aforementioned factors, in turn, are expected to increase the demand for the molecular sieves market in the region.

China to Dominate the Market

• China is one of the largest exporters of oil and gas, globally. The Government of China expects the share of gas in total energy consumption to reach up to 10%, by 2020.
• According to the National Development and Reform Commission, currently China has 112,000 km of oil and gas pipelines. The plans are set to expand the current figure to 250,000 km in the next five years.
• According to the Ministry of Land Resources, China is likely to build two shale gas bases in its southern region and open up tenders for more oil and gas exploration.
• The market for soap, washing powder, and synthetic detergent industry in China has grown at an average annual rate of 13.2% in the past five years, due to increasing awareness about hygiene and development in liquid soap.
• Expansions in the petroleum sector, coupled with significant growth in the industrial, automotive, and surfactants are likely to help propel the growth of the molecular sieve market in the region.
• Owing to the above-mentioned factors, the market for molecular sieves in the country is projected to grow during the forecast period.

Competitive Landscape

Asia-Pacific molecular sieve market is partially consolidated among the top five players. Major players in the market include Honeywell International Inc, Arkema Group, Cabot Corporation, W. R. Grace & Co.-Conn., and Tosoh Corporation, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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