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Molecular Sieve Desiccants Market Growth- Size, Share, Trends, Demand, Key Player profile and Regional Outlook by 2024

Mar 2nd 2020 at 5:09 AM

The Global Molecular Sieve Desiccants Market is estimated to be valued at USD 746.7 Million and record a CAGR of 6.53% during the forecast period. The selective adsorption characteristics of molecular desiccants have increased its preference over other types of desiccants. The oil & gas and automotive & transportation industries are highly contributing to the growth of the global molecular sieve desiccants market owing to its characteristics.

 

Segmental Analysis

 

According to MRFR analysis, the global Molecular Sieve Desiccants Market Growth has been segregated based on form, type, application, and region.

 

The forms of molecular sieve desiccants analyzed are beads, pellets, and powder. Among these, the bead segment accounted for the largest market share and was valued at USD 280 million in 2018.  The growth of this segment is attributed to its relatively large-scale consumption across various industrial verticals.

 

The types of molecular sieve desiccants are 3A, 4A, 5A, 13X, and others. The 4A segment accounted for the largest share of 46.3% in 2018 and is expected to register a CAGR of around 7% during the forecast period. The low cost of 4A type on account of its virgin state and no processing requirement is contributing to the growth of the segment.

 

The application segments of the global molecular sieve desiccants market are refinery; industrial drying; air brakes; packaging; coatings, adhesives, sealants & elastomers; refrigerant; insulation glass; and others. Among these, the refinery segment held the largest share of the global market in 2018. The segment was valued at USD 238,854.0 thousand in 2018 and is likely to be the dominant segment during the forecast period due to the widespread use of molecular sieve desiccants for purification and dehydration of aliphatic hydrocarbons, aromatic hydrocarbons, synthetic gas, and removal of mercaptans, CO2, H2S, and other impurities.

 

Market Players

 

Market Research Future (MRFR) recognizes the following companies as the key players in the global Molecular Sieve Desiccants market: Van Air, Inc (US), Zeochem AG (Switzerland), SORBEAD INDIA (India), Tosoh Corporation (Japan), Arkema (France), BASF SE (Germany), Honeywell International Inc (US), W. R. Grace & Co (US), JIUZHOU CHEMICALS (China), KNT Group (Russia), Brownell Limited (UK), Merck KGaA (Germany), MolsivCN (China), Dalian Haixin Chemical Industrial Co.,Ltd (China), Hengye Molecular Sieve Co., Ltd (China), Axens (France), UNION SHOWA K.K. (Japan), MTE Suzhou Co., LTD (China), Interra Global (US), and GIEBEL FilTec GmbH (Germany).

 

Regional Analysis

 

The global molecular sieve desiccants market, by region, has been segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific was the dominant regional market accounting for the largest share of around 38% in 2018 and is expected to register a CAGR of around 7% during the forecast period. North America is following Asia-Pacific, which accounted for the second-largest share of the global molecular sieve desiccants market in 2018. The European market is expected to register a CAGR of over 5% during the forecast period. The Latin American and the Middle East & African markets are also likely to witness considerable growth during the forecast period, 2019–2024.

 

Key Findings of the Study:

 

  • The global molecular sieve desiccants market was valued at USD 513.7 million in 2018 and is projected to register a CAGR of 6.53% to reach USD 746.7 million by the end of 2024.

 

  • On the basis of form, the bead segment held the market share of 5% in 2018 and was valued at USD 280 million in 2018.

 

  • Based on type, the 4A segment held the largest share in 2018 and is expected to register a CAGR of over 7% during the forecast period.

 

  • By application, the refinery segment is estimated to be the largest segment of the global molecular sieve desiccants market, which accounted for around 5% value share in 2018.

 

  • The Asia-Pacific market accounted for the largest share of around 38% by value in 2018.



Access Report Details @ https://www.marketresearchfuture.com/reports/molecular-sieve-desiccants-market-8210


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