According to the latest market research study released by Technavio, the global molecular sieves market is expected to grow at a CAGR more than 6% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global molecular sieves market based on end-user:
Global molecular sieves market share by end-user 2015
|
Oil and gas industry |
48.39% |
|
Petrochemical industry |
26.21% |
|
Process industries |
11.95% |
|
Construction industry |
7.55% |
|
Other industries |
5.90% |
Source: Technavio
The top three revenue contributing end-user segments are discussed below:
Global molecular sieves market in oil and gas industry
In 2015, the oil and gas industry accounted for around 48% of the global molecular sieves market and is expected to continue to grow tremendously during the forecast period. In the oil and gas industry, the prime use of molecular sieves is the purification and dehydration of gases. Owing to the high absorption capacity, molecular sieves are used in the filtration process and in dehydration and clean-up of gases, such as propane and butane. Apart from this, they are also used to remove mercaptans, H₂S, CO₂, and other particles from natural gases. They are more suitable for dehydrating natural gas that has aromatic compounds in them such as propane, methane, and ethane. With the use of molecular sieves, methyl chloride gas, catalytic reforming recycle gas, and synthesis gas are purified in oil refineries. Furthermore, they can also effectively remove compounds such as hydrogen fluoride, hydrochloride, tert-butyl catechol, fluorinated hydrocarbons, and boron trifluoride.
“Molecular sieves have high demand from the oil and gas industry. They are used to dehumidify the industrial gases that need to be used in production processes. It is the supportive government regulations and huge investment incurred on R&D on the oil and gas industry in the MEA region, that has made the presence of the oil and gas and petrochemical industries in this region strong. With massive investments in research activities, the demand for molecular sieves in the MEA region will also increase considerably,” says Ajay Adhikari, a lead analyst at Technavio for research on metals and minerals.
Global molecular sieves market in petrochemical industry
The petrochemical industry accounted for around 26% of the global molecular sieves s market, in 2015. In petrochemical products such as olefins, molecular sieve acts as a drying agent to remove water present in these products. In addition, it is also used to remove carbon dioxide and other impurities from natural gas and petrochemical products in the pipelines and is further used to cleanse feed meant for catalytic reactions like dimerization, alkylation, and isomerization. In the petroleum industry, the molecular sieves are basically used for drying and purification of feedstocks and organic gases, and eliminating impurities from a product such as propylene and ethylene. This action facilitates protection of a catalyst in downstream conversion units and prevents freezing in cryogenic systems. Besides these, there are other various applications where molecular sieves are used, which includes its use as a drying agent for hydrogen gas for acetylene converters, as drying and purification agent for olefins and for the removal of CO₂ and oxygenates, for dehydration and purification of a wide variety of solvents, effective use in hydrocarbon gas drying to cryogenic extraction of liquefied petroleum gas to prevent ice and hydrate formation and last but not the least, it is used in the sweetening process of liquefied petroleum gas and butane de-mercaptanization.
Global molecular sieves market in process industries
The process industries accounted for around 12% of the global molecular sieves market, in 2015. To produce absolute alcohol, molecular sieves are extensively used in several ethanol dehydration plants. Alcohol being a fixed spirit that contains around 95% of alcohol and remaining water, it becomes very difficult to remove water from this highly concentrated liquid. Molecular sieves are used effectively to remove this moisture content from alcohol. It is also used in the purification of benzene-free ethanol, and this purified ethanol is then used for various pharmaceutical purposes. Apart from these, the sieves are also popularly used for purifying food-grade and pharmaceutical-grade ethanol. Molecular sieves are basically used in the packages, and by absorbing moisture content of the package, it successfully keeps away molds, bad odors, and other microorganisms from the packages. Its application plays a vital role in the case of transportation of packages over long distances as it helps in avoiding humidity and keeps the content of the package intact. Molecular sieves are mainly used in drying air for food packaging, electronics, and pharmaceuticals.
The top leading vendors operating in the global molecular sieves market are:
- BASF
- CECA
- Grace
- Honeywell UOP
- Zeochem
Other prominent vendors in the molecular sieves market include Axens, Clariant, KNT Group, Sorbead India, and Union Showa KK.
A more detailed analysis is available in the Technavio report titled, ‘Global Molecular Sieves Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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