Microporous Materials Market to Garner $8.4 Billion, Globally, By 2031 at 4.9% CAGR, Says Allied Market Research

PORTLAND, OR, UNITED STATES, October 29, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Microporous Materials Market by Type (Zeolites, Metal organic frameworks, Clays, Activated Alumina, Others), by End Use Industry (Laboratories, Medicine, Energy and Power, Automotive, Media, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global microporous materials industry generated $5.3 billion in 2021, and is anticipated to generate $8.4 billion by 2031, witnessing a CAGR of 4.9% from 2022 to 2031.

Prime determinants of growth

Increasing demand for highly thermal resistant insulation materials in the oil & gas industry drives the growth of the global microporous materials market. However, the high manufacturing cost of microporous materials is predicted to hinder the market growth. Moreover, expansion of the oil & gas industry presents new opportunities in the coming years.

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The zeolites segment is expected to maintain its leadership position throughout the forecast period, holding the highest market share in 2021 and continuing to dominate due to its widespread applications as catalysts in chemical reactions and effective adsorbents for gases and liquids. However, the clays segment is projected to witness the highest CAGR of 5.27% from 2022 to 2031, driven by its applications in various industries such as lubricants, drug delivery, and thickening agents.

Based on type, the zeolites segment held the highest market share in 2021, accounting for nearly three-fifths of the global microporous materials market, and is estimated to maintain its leadership status throughout the forecast period. Microporous zeolites are commonly used as catalysts in chemical reactions due to their high surface area and unique pore structure. They are used in a wide range of applications, such as in the production of fuels, chemicals, and polymers. Microporous zeolites are effective adsorbents for gases and liquids due to their high surface area and porosity. However, the clays segment is projected to manifest the highest CAGR of 5.27% from 2022 to 2031. Microporous clay materials are employed in lubricants, drug delivery, disintegrants, anticaking, and thickening agents as clarifiers, absorption, and adsorption materials.

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The automotive segment to maintain its leadership status throughout the forecast period

Based on end use industry, the automotive segment held the highest market share in 2021, accounting for nearly one-fourth of the global microporous materials market, and is estimated to maintain its leadership status throughout the forecast period. Microporous insulation is a combination of fibers, silica, and infrared opacifiers, making it non-combustible and ideal for passive fire protection applications in automotive. It is waterproof and has a high resistance to heat. However, the energy and power segment is projected to manifest the highest CAGR of 5.37% from 2022 to 2031. Microporous materials are employed in the manufacture of supercapacitors and batteries. They are also employed as insulation materials in high-temperature applications such as aerospace, low-temperature cooling, and cryogenic applications.

Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global microporous materials market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 5.17% from 2022 to 2031. In Asia-Pacific, microporous materials are used to extract formaldehyde and noble gases like N2 and O2 from natural gas streams, which includes industrial gas drying, filtering, and separation. Microporous materials, such as activated alumina, are widely employed in the water treatment and oil and gas industries in Asia-Pacific.

Leading Market Players: -

Sumitomo Chemical Co., Ltd.,
Zeochem AG,
Zeolyst international,
Axens,
PQ,
PIDC,
BASF SE,
Sorbead India,
Solvay,
AGC CHEMICALS PVT. LTD.

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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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