Molecular Sieves Market size is forecast to reach $5.6 billion by 2025, after growing at a CAGR of 5.3% during 2020-2025. Molecular Sieves industry is projected to augment due to increasing demand from oil and gas for processing, along with rising awareness for the treatment of hazardous organic materials in wastewater.  

Key Takeaways

Asia Pacific dominates the Molecular Sieves market owing to higher consumption across various industry verticals.  
Increasing oil and gas processing will further augment the molecular sieves market during forecast period.  
The market drivers and restraints have been assessed to understand their impact over the forecast period. The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. 
The other key areas of focus include the various applications in Molecular Sieves Market and their specific segmented revenue. 
Download Sample Report @ https://www.industryarc.com/pdfdownload.php?id=503267

Geography - Segment Analysis
 
Asia Pacific dominates the Molecular Sieves market with a share of more than 48%, followed by North America and Europe. Rising demand from the detergent manufacturing sector coupled with growth in new application segment such as waste water treatment is expected to open up new market avenues in many Asia Pacific countries. The rise in government spending has also led to increased demand on the market for molecular sieves of zeolites. Due to strict government regulations for detergent applications North America and Europe are expected to showcase steady growth. The demand and supply of molecular sieves has declined in recent time due to COVID-19 pandemic. Between February and March 2020 the coronavirus pandemic forced lockdowns across Asia, paralyzing economic activity across the continent as factories shut down bringing production to a halt. The manufacturing industry tumbled because of COVID-19 which has led to economic slowdown and its effect on economy can be traced till end of year 2020. The manufacturing industry in APAC region will bounce back during forecast period which will help in growth of molecular sieves market. 

Drivers – Molecular Sieves Market
Expanding Oil and Gas Industry will drive the Molecular Sieves market:
Molecular sieves are used in petroleum refineries, as they provide energy-efficient options to certain separation processes that involve heating of oil. Petroleum refining is a key element of the global energy system. Oil demand is has exceeded 100 million barrels per day (MMbd) in 2019. The United States is the major crude oil producer followed by Saudi Arabia, Russia and Canada. Crude oil production in the United States saw a substantial increase as oil discovery and extraction from its abundant shale reserves increased, causing a single country's largest ever annual rise. 

Challenges – Molecular Sieves Market
High Cost of Molecular Sieve can restrict the market:
The cost of raw materials remains the top overall concern for Molecular Sieves. The cost of energy and raw materials has affected a niche market in the ethanol industry. Furthermore, the rising costs of chemicals, such as potassium chloride and sodium hydroxide is further fueling the cost of molecular sieve.  

Market Landscape:The market of Molecular Sieves has been consolidated by the top five players accounting for xx% of the share. Major players in the BASF SE, Arkema S.A, Honeywell International Inc., Tosoh Corporation, KNT Group and others. 

About IndustryARC :

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.