Research and Markets – Global Molecular Sieves Market 2016-2020 with BASF, CECA, Grace, Honeywell UOP & Zeochem Dominating

October 26, 2016

October 26, 2016 - 2:10 PM EDT

Research and Markets - Global Molecular Sieves Market 2016-2020 with BASF, CECA, Grace, Honeywell UOP & Zeochem Dominating

DUBLIN, October 26, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Molecular Sieves Market 2016-2020" report to their offering.

The global molecular sieves market to grow at a CAGR of 6.48% by volume during the period 2016-2020.

The report covers the present scenario and the growth prospects of the global molecular sieves market for 2016-2020. To calculate the market size, the report considers the sales volume of molecular sieves in the oil and gas, petrochemicals, process, construction, and other industries, such as the automotive, paints and coatings, packaging, and nuclear power industries. The report also includes a discussion of the key vendors operating in this market.

Molecular sieves contain minuscule holes or pores of consistent size. These pores permit molecules of small dimension to enter the sieve, while larger molecules get separated. Molecular sieves are produced from raw materials such aluminosilicate minerals, silicon dioxide, and mesoporous silica. An example of molecular sieve is crystalline metal aluminosilicate, which has three-dimensional linkages between alumina tetrahedra and silica. Their unique structure helps to remove water by absorbing it in the porous crystalline structure.

Growing demand from oil and gas industry will be a key trend for market growth. The majority of the molecular sieves are imported in the Middle East from APAC and European countries. Many global players in North America and Europe have set up their plant in APAC in order to cater to the demand for oil and gas, petrochemicals, and process industries of the Middle East.

According to the report, high demand from refinery industry will be a key driver for market growth. Currently, oil is the key source of energy and this dominant position most undoubtedly will continue in the succeeding decades. This is basically due to the amount of maturity that has been accomplished in oil refining and petrochemistry as a result of the substantial effort in research and development. The efficiency of oil refining is largely established on the use of molecular sieves as catalysts, which has been considered as one of the major activities in the refinery industry in recent times.

Further, the report states that the health hazards associated with the ingestion and inhalation of molecular sieves products is one of the challenges manufacturers are facing in the global molecular sieves market. Molecular sieves are extensively used as a food additive in the food and beverage industry. These sieves are used as desiccants in various food products, owing to their ability to absorb moisture and prevent any moisture damage to packaged food products.

Key vendors