Specialty Zeolites Market
currently the leading factor contributing to the increasing revenue stream of the global specialty zeolites market. This is especially visible across Latin America and Asia Pacific, two regions that are scaling up their infrastructures in healthcare, industries, businesses, and residential areas,” states a TMR analyst. Urbanization is a key proponent of the construction industry and consequently, the global specialty zeolites market. This can be seen across the swiftly growing urban areas in China, India, and Brazil.
Another factor promoting the global specialty zeolites market at the moment is the growing demand for them from the global paints and coatings industry, which is again, directly driven by the construction industry. The demand for specialty zeolites takes a positive turn due to the increasingly stringent regulations regarding the use of volatile organic compounds. A similar hike in demand for specialty zeolites can be seen in the plastics industry.
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High Costs of Specialty Zeolites to Prevent Faster Market Growth
One of the key factors hindering a more favorable growth rate for the global specialty zeolites market is the high product costs. Specialty zeolites are known to be much more expensive than basic synthetic zeolites or even natural zeolites, due to the increased complexity of manufacturing. At the same time, the global specialty zeolites market is being restricted by the increasing availability of substitutes, especially silica gels and activated carbon. Both substitutes are finding a greater range of use in the paints and coatings industry, jeopardizing the overall demand for specialty zeolites in it.
“ Currently, the larger players in the global specialty zeolites market are creating greater opportunities for themselves through the upkeep of loyalty with existing clients. This allows them to harness the generation of goodwill between enterprises while successfully expanding their overall client pool. Several players are also making the most out of opportunities through enhanced product development programs and the diversification of application of specialty zeolites,” adds the analyst.
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