Adsorbents Market To Reach USD 6.2 Billion By 2027 | CAGR 6% — Forencis Research
Global Adsorbents Market: Key Highlights
- According to the new market research report “Adsorbents Market by Type (Molecular Sieve, Silica Gel, Activated Alumina, Carbons, Zeolites, Clay and Others), by Application (Wastewater Treatment, Refining & Petrochemical, Packaging, Air Separation & Drying and Others), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global adsorbent market is estimated to reach USD 6.2 Billion by 2027 at a CAGR of 6% during the review period.
- The adsorbent is the substance with the potential of adsorbing other material or any particular surface
- It is used in wastewater treatment, oil & gas refineries, drug delivery system, packaging and various other areas
Global Adsorbents Market: Key Market Dynamics
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- Increasing usage of adsorbent in the wastewater treatment for purification and filtration of water is driving the market growth
- The rise in the environmental concerns is shifting towards usage of an adsorbent for environmental cleanup further fuels the market growth
- Fluctuation in raw material prices along with low service life is hampering the market growth
- Growing penetration of nanomaterial-based adsorbent across varied application areas owing to unique characteristics is expected to create a new market opportunity for the market players
Global Adsorbents Market: Regional Overview
- North America
The growth of the adsorbent market is mainly attributed to growing refining activities in the region. Growing refining activities owing to growth in the crude oil & gas production from the shale reserve in combination with shifting demand towards the petrochemical industry. The rising utilization rate of the adsorbent for the industrial sector is expected to boom in the years to follow, which in turn, drives the market growth in the North America region.
The Asia-Pacific absorbent market is expected to showcase remarkable growth in the forecast period owing to rising usage into the wastewater treatment. Rapidly growing population, ongoing industrialization, expanding manufacturing sector in the region, is fueling the market growth. The market is further propelled by increasing the municipal wastage in combination with rising water scarcity is driving more attention towards the demand for adsorbent in the wastewater treatment.
Global Adsorbents Market: Key Players Overview
- BASF SE:
BASF SE is the Germany-based specialty chemical manufacturing company. The company have a strong presence globally through an extensive product line and supply chain network. BASF SE engages globally through six major business segment namely chemical, industrial solutions, nutrition and care, materials, surface technologies and agricultural solutions. The company offers a broad range of adsorbent including proprietary alumina, silica, alumino-silica gels and a broad line of base metal oxide guard bed materials. In February 2019, BASF and Linde Announce Collaboration Agreement for Natural Gas Processing by using BASF’s adsorbent technology and Linde’s adsorption & membrane technology.
Arkema is a specialty chemical and material company, provides products through advanced material, coating solutions, adhesives and intermediates business segments. The company offers products for automotive & transportation, building and construction, coating, inks, oil & gas, electrics and electrical, water management, sports & leisure and many other application areas. Arkema has a strong reach across 55 countries and huge employee count over 20,000 people. The company offers adsorbent under the brand name Siliporite for drying and purification application across oil & gas and petrochemical industry.
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