Europe Molecular Sieves Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
Europe Molecular Sieves Market is expected to grow at a moderate rate during the forecast period, 2018 to 2023. The market is expected to increase rapidly in emerging economies, owing to its rapid growth from the petroleum and petrochemicals industry. The carbon type molecular sieve is estimated to witness a CAGR of 7.15% during the forecast period.
Molecular sieves are materials having pores of the order of few angstroms or nanometers. Natural water of hydration is removed by heating to form an excellent interconnecting structure, which selectively adsorbs molecules of a specific size. The large internal surface area and crystalline structure of these materials gives them the high adsorption capacity. As a desiccant, they are used to remove impurities from many industrial gasses and liquids. They can be reused by regeneration where the adsorbate molecules are removed from the molecular sieve bed by heating and purging with a carrier gas.
Growing Demand in Petroleum and Petrochemicals Industry
Molecular sieves are mostly used in petroleum refineries where they provide energy efficient options to certain separation processes that involve heating of the oils. For purification purposes, they are majorly used in industries, such as waste & water treatment, air purification, and nuclear. Some of the other end-user industries are agricultural products, automotive, cosmetics, beverage industry, heating and refrigeration industry, insulated glass production, industrial gas production, petroleum refining & petrochemicals, plastics & polymers, and pharmaceutical industry. Increasing refinery throughput in countries, such as Germany, France, and Spain in driving the market in the region.
Zeolites Product Type to Dominate the Market
The zeolites product type segment dominates the European molecular sieve market. Zeolites are synthetically produced crystalline aluminosilicate, activated to act as an adsorbent. The basic ingredients are silica and alumina. Zeolites are highly porous, adsorbent and have high affinity for water and some other molecules. Zeolites have unique features, like uniform pore-size & molecular dimensions. Rising demand for gasoline is raising the refining activities through fluidized catalytic cracking units. This in turn is boosting the demand for zeolites. Additionally, the market is expected to grow rapidly due to the presence of opportunities, such as the development of anti-microbial zeolite molecular sieves.
Notable Developments in the Market:
March 2018: Kuraray Co., Ltd. announced its acquisition of Calgon Carbon Corporation. As a separate subsidiary, Calgon Carbon will be reported as part of the Functional Materials Company of Kuraray, along with Kuraray’s Carbon Material Business Division. The Functional Materials Company includes the Methacrylate Division and Medical Division
Major Players: Arkema Group, BASF SE, Bear River Zeolite, Calgon Carbon, Datamyne, Inc., Eastman Chemical Co., Solvay Chemicals and Union Showa KK, among others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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