Molecular Sieve Desiccant Market Forecast and CAGR
According to the latest research, the demand for Molecular Sieve Desiccant is anticipated to grow with a compelling growth rate of about 5% to 6% in between the coming assessment period of 2021-2031. Due to increasing demand for various applications like oil & gas industry, automotive industry, industrial drying, packaging, coatings industries and many others the market is expected to expand at a healthy pace over the next few years. Synthetic zeolite materials developed with pores of consistent sizes and configurations are known as molecular sieves desiccants.
They function by adsorbing gas or liquid molecules smaller than the effective width of the pores while rejecting molecules larger than the apertures. The capacity to adsorb gases and liquids based on molecular size and polarity is a distinguishing feature of molecular sieves desiccants. Because of its high adsorption effectiveness, it is one of the most effective moisture absorption solutions utilised in a variety of sectors.
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What is Driving Demand for Molecular Sieve Desiccant?
The Major factors driving the market are the growing demands coming from petroleum and detergents industry. Molecular sieves are widely used in a variety of sectors, including detergent, water treatment, and oil and gas, due to their drying capabilities, crushing strength, and a large number of usage cycles that provide a long product life.
Molecular sieves are particularly effective at absorbing various waste particles (liquid and solid)
produced during the manufacturing process of many materials. This material is great for low-humidity products and remains stable as temperatures rise.
Molecular sieves are most commonly used in industry to separate permanent gases (hydrogen, oxygen, nitrogen, carbon monoxide, and inert gases). This is one of the main drivers of the market’s expansion. In the petroleum and petrochemical industries, these sieves are widely used as a catalyst. Apart from that, rising environmental awareness, combined with the implementation of severe government regulations supporting the usage of molecular sieves due to their environmental friendliness, is fueling market expansion.
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APAC Molecular Sieve Desiccant Market Outlook
China is one of the world’s largest exporters of oil and gas. Expansions in the petroleum industry, as well as significant expansion in the industrial, automotive, and surfactants sectors, are expected to drive the molecular sieve market in the area forward.
In several Asia Pacific countries, rising demand from the detergent manufacturing sector, combined with expansion in new application segments such as waste water treatment, is likely to bring up new market opportunities.
North America Demand Outlook
The Molecular Sieve desiccants market in North America is expected to be the largest by 2028, owing to the region’s strong pharmaceutical manufacturing base, favourable government regulations, and high R&D expenditure.
North America is a major market for molecular Sieve desiccant, which is widely used in the region’s oil and gas, petrochemical, and pharmaceutical industries. They are used in pharmaceutical packaging to protect medications from moisture and other impurities.
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Who are the Key Manufacturers and Suppliers of Molecular Sieve Desiccant?
Some of the leading manufacturers and suppliers of Molecular Sieve Desiccant include
- Honeywell International Inc.
- Tosoh Corporation
- BASF SE
- KNT Group
- SORBEAD India
- Caledon Laboratories Limited
- Bear River Zeolite Company
- JIUZHOU CHEMICALS
- Zeochem AG
- Van Air Inc.
- W. R. Grace and Co
- Clariant Produkte
- Interra Global Corporation
Significant growth of Molecular Sieve Desiccant in automotive sector and petroleum industry areas in countries such as China and India drive the market in the Asian-pacific region. Key strategies implemented by players in the Molecular Sieves Desiccant market include technology releases, acquisitions, and R&D efforts.
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