Molecular Sieves Market Share

Growing automotive & transport sectors are driving the market growth

The market CAGR for molecular sieves is driven by the rising automotive & transport sectors. Transportation and automotive sectors depend on molecular sieves to handle different water concerns. Moisture can shorten the life of automobile parts by causing short corrosion. Desiccants are incorporated into automotive systems in the Shape of bags or cartridges to safeguard them against moisture impacts. Furthermore, by maintaining the air as dehydrated as possible, molecular sieves avoid the rusting of metal components in the air braking systems of buses, trains, and intermediate and heavy-duty vehicles.

As an outcome, increased demand from the transportation and automotive sectors is driving the growth of this market. According to the OICA, the automobile industry generated 424.1 million vehicles in 2016 and is predicted to produce 460.1 million in 2021.

These sieves are also widely used as a type of catalyst in the oil and petrochemical sectors. Aside from that, raising awareness of the environment, along with the adoption of stringent regulatory rules favoring the usage of environmentally friendly molecular sieves, is fueling market expansion. Furthermore, the anticipated uses for biodegradable molecular sieves in the medical field, such as the regulated release of drugs in the human body, are predicted to be a key growth driver.

Aside from that, growing water treatment operations for the purifying of gas and water streams, as well as the elimination of nuclear waste using molecular sieves, are expected to drive up demand for goods ly.

The COVID-19 epidemic has impacted chemical and materials distribution systems, manufacturing activities, and international trade worldwide. Industrial has been hampered owing to worldwide security tightening and industrial problems. Furthermore, oxygen is produced by passing aluminum, silicon, and additional molecules via high-speed molecular sieves. As a result, government regulations have been relaxed, enabling more people to utilize molecular sieves. Aside from molecular sieves, a handful of organizations in major impacted nations have received oxygen generators, which transform nitrogen into oxygen.

For instance, molecular sieves have a microporous outer layer of 200-1200m2/g. They are typically used to separate inorganic gases, C1-C3 hydrocarbons, and tiny molecules that are polar such as fluid, formaldehyde, and hydrogen sulfide. As a result, increasing requirements for CMS across different industries will drive market expansion throughout the forecast period. Thus, it is anticipated that demand for Molecular Sieves will increase throughout the projected timeframe due to the rising automotive & transport sectors. Thus, driving the Molecular Sieves market revenue.

October 2023

SiPore21® is a cutting-edge medical device that was created to enable long-term control of diabetes and weight. Sigrid Therapeutics has begun the SHINE clinical trial for SiPore21®. Through the use of Mesoporous Silica particles (MSPs), SiPore21® is a unique technology that utilizes MSPs to solve significant health concerns. Orally given MSPs, when taken in the form of a gel, perform the role of "molecular sieves," successfully preventing the interaction between digestive enzymes and the food that is being consumed. This activity results in a reduction in the amount of carbohydrates and lipids that are broken down.

In order to determine whether or not SiPore21® is effective, the SHINE trial, which is currently the largest commercial research on prediabetes, is now being conducted. The primary purpose of this study is to determine whether or not the medicine SiPore21® results in significantly lower HbA1c levels as compared to placebo during the treatment of individuals who are obese or overweight and have elevated blood glucose levels.

The Global Global Molecular Sieves Market Industry experiences heightened demand driven by the increasing utilization of molecular sieves in adsorption applications across various sectors. Industries such as petrochemicals, pharmaceuticals, and environmental protection rely on molecular sieves for efficient separation and purification processes. For instance, in the petrochemical sector, molecular sieves are essential for removing impurities from hydrocarbon streams, enhancing product quality. This trend is expected to contribute significantly to the market's growth, with projections indicating a market value of 4.63 USD Billion in 2024, reflecting the industry's pivotal role in optimizing production processes.

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Molecular Sieves market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings.

The Molecular Sieves industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the Molecular Sieves industry to benefit customers and capture untapped market share and revenue. The Molecular Sieves industry has recently offered significant advantages to the Chemicals industry. Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially.

Major players in the Molecular Sieves market, including Sorbead India, Tosoh Corporation, BASF SE, Honeywell International Inc, Honeywell Fluka, Grace & Co, SYLOBEAD & SYLOSIV, Zeochem AG, Merck KGaA, MolsivCN, UNION SHOWA KK, Van Air, are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.

Shell Plc manufactures oil and natural gas. It works in four divisions: Unified Gas, Upstream, Downstream, and Administration. The Hague, the Netherlands-based firm, was formed in February 1907. The corporation seeks and generates natural gas and oil from traditional fields and resources, including tight rock, shale rock, and coal deposits. Following collaborative cooperation, Shell, a key participant in the energy business, established a partnership with catalyst specialist BASF's Sorbead Adsorption Technologies in its carbon fall program. The collaboration involves evaluating the use of Sorbead technologies across post-combustion CCS (carbon capture and storage) operations.

Honeywell International is a software technology corporation specializing in aerospace and automobile services and goods. Albert M. Butz created the corporation in 1885, located in Charlotte, North Carolina. It specializes in turbocharger control, sensing, and safety equipment for buildings & homes; specialized chemicals; electronics and sophisticated materials; refining and petrochemical process Technology; and energy-efficient goods and products for homes, businesses, and transportation. Its business divisions are Aerospace, Housing, Construction Technologies, Superior Materials and Technologies, and Security and Efficiency Solutions. In May 2021, Honeywell International announced that it would provide USD 3 million in assistance to India through the Covid-19 procedure.

Personnel from the company constructed critical care units with protective gear, air, and beds. Defense Research and Development Organization and the Indian Institute of Petroleum also use the company's molecular sieve adsorbents.