The Asia Pacific molecular sieve market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rapid development in pharmaceutical sector, increasing demand for advance actuator product, rising industrialization and increasing awareness among consumers about automobile sector.
For the separation of gases such as nitrogen, inert gases, hydrogen, carbon monoxide, and oxygen the molecular sieves are used all over the industries. It is also utilized for branched chain hydrocarbons and small molecular weight. With the help of naturally occurring materials & dehydration of synthetic materials & elements such as clay, zeolite, and silica, molecular sieves are manufactured in pelleted, powdered, and beaded form.
While eliminating sieve molecules that are major than the openings, They absorb minor molecules which are effective diameter of the pore’s gas & liquid molecules. The molecular sieve has properties such as major number of utilization cycles which helps in increasing product life, drying capabilities of sieves, also known for their crushing strength, and contamination resistant property. Due to these properties molecular sieves find broad uses in industries like gas & oil, detergent, and water treatment.
The Covid-19 pandemic affected the demand and supply of Asia Pacific molecular sieve market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing use of molecular sieve in automotive sector is projected to boost the market.
- Rising need for molecular sieve in emission control system is the major factor fueling the market.
- Lack of awareness about the molecular sieve is projected to restrict the market expansion during the forecast period.
- High price of products is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in molecular sieve market is projected to offer lucrative opportunities for the market players
Key Players
- Zeolyst International
- Tosoh Corp.
- Solvay
- Merck KGaA
- Honeywell International Inc.
- Desicca Chemicals Pvt. Ltd.
- Clariant
- Calgon Carbon Corp.
- Blue Pacific Minerals
- BASF SE
- Arkema Group
- Bete Ceramics Co. Ltd.
- Axens
- Cabot Corp.
- CARBOTECH AC GMBH
- Dalian Absorbent Co., Ltd.
- Graver Technologies
- JIUZHOU CHEMICALS
- Shanghai Hengyne Molecular Sieve Co. Ltd.
- Sorbead India
- W. R. Grace & Co. Conn.
Competitive Landscape
Key players competing in the Asia Pacific molecular sieve market include Zeolyst International; Tosoh Corp.; Solvay; Merck KGaA; Honeywell International Inc.; Desicca Chemicals Pvt. Ltd.; Clariant; Calgon Carbon Corp.; Blue Pacific Minerals; BASF SE; Arkema Group; Bete Ceramics Co. Ltd.; Axens; Cabot Corp.; CARBOTECH AC GMBH; Dalian Absorbent Co., Ltd.; Graver Technologies; JIUZHOU CHEMICALS; Shanghai Hengyne Molecular Sieve Co. Ltd.; Sorbead India; and W. R. Grace & Co. Conn.
Some of these players are using several market strategies such as collaborations, acquisitions, partnerships, merger, product launches, and capacity expansion to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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