North America Molecular Sieves Market - Segmented by Shape, Size, Product Type, End-user Industry, and Geography - Growth, Trends and Forecasts (2018 - 2023)
The North America molecular sieves market is expected to register a steady CAGR of 5.81% between 2018 and 2023 (the forecast period). One of the major factors driving the growth of the market studied is the increasing demand for processing from the oil & gas industry. 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.
Increasing Demand from Oil & Gas Sector
The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2017 for the fifth straight year and is poised for record oil output in 2018. Furthermore, the United States is expected to be a net oil exporter in the world by 2022. To meet up with its ambitious target, the government proposed National OCS Program 2019 - 2024, which plans to offer about 90% of the outer continental shelf for exploration. With an increase in exploration and production, the need for processing the gas is expected to increase in the coming years. Various investments are likely to come up that will increase the gas processing capacity in the coming years. Molecular sieves are widely used in the gas processing industry for the purification of the gas by gas dehydration and desulphurization techniques. The increase in gas processing facilities is expected to drive the molecular sieve market in North America during the forecast period.
Increasing Usage in the Cosmetics Industry
Molecular sieves like zeolites and clay are used as cosmetic ingredients. Molecular sieves eliminate odour in case of cosmetics that are manufactured from surfactants and solvent. One of the cosmetic processes called Gel Permeation Chromatography (GPC) is based on molecular sieve mechanism. Due to hydrophilic character, zeolites act as heating agents and defoliant for cosmetic applications. Additionally, the small pore size of the zeolite eliminates the adsorption of other ingredients such as fragrances, proteins or oils from the cosmetic formulations. The heat release of molecular sieve powder happens instantly and can be influenced by the zeolite content in the formulation. The detergent industry is one of the major users of the molecular sieve. Zeolites and clay are used as cosmetic ingredients for this industry. Zeolites substitute phosphates in the water softening process to overcome the eutrophication problems of natural water, caused by the phosphate compounds present in detergents. The use of activated carbon is also seen as a teeth whitener, in the cleansing application. Activated carbons are superabsorbers. They have antibacterial properties and hence are used in skincare products. Hence, the growing demand for cosmetics and detergents are boosting the demand for molecular sieves and the market is expected to grow over the forecast period.
United States Dominates the Market
The United States is one of the industrialized countries, with multiple industries in heavy-, medium- and small-scale categories. Thus, the usage of water treatment chemicals is high in almost all industries. The United States Environmental protection agency (USEPA) emphasizes the improvement of water and sewage services, especially in the municipal wastewater treatment area. This scenario is boosting the demand for molecular sieves in waste & water treatment applications. Crude oil refining capacities in the United States is increasing at a significant rate, simultaneously driving the demand for molecular sieves in distillation operations. The FDA, also known as the United States Food and Drug Administration, has cleared the path for the use of sieves in consumable items. This is expected to boost the use of sieves in the food and drug industry. Furthermore, the zeolite molecular sieves in the United States are used as surfactants, interfacing agents, adsorbents, and for filtration purposes.
Key Developments in the Market
- September 2017- Calgon Carbon Corporation has announced an agreement to be acquired by Kuraray
Major Players -Honeywell UOP, CECA, Zeochem LLC, WR Grace & Co., Tosoh Corporation, BASF SE, and Clariant, among others.
Reasons to Purchase the Report
- Examine the impact of the growing awareness for water treatment on the market
- Analyze the various perspectives of the market with the help of Porter’s five forces analysis
- Identifying the product type and end-user industry that are expected to dominate the market
- Identifying the country expected to witness the fastest growth rate during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
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