NEWS: Global Industrial Absorbents Market is projected to reach a value of over USD 5.4 billion by 2027

Industrial Absorbents Market: Summary

The Global Industrial Absorbents Market is projected to reach a value of over USD 5.4 billion by 2027 at a CAGR of around 4.3%.

Absorbents are material that is primarily used to extraction of chemicals or fluids spilled on different surfaces or floors. It is chemically inert in nature which makes them safe for use on any kind of surface or chemicals. Industrial absorbents are comprised of soaking chemicals and materials specifically for these kinds of spills that help in the extraction process and are more effective than a normal absorbent.

Industrial Absorbents Market: Drivers & Challenges

Market Driver:

Oil pollution of the ocean comes from shipping activity and offshore oil production. Spilled oil is very toxic. It can be lethal to adult animals even in relatively low concentrations. The key sources of the oil spills are discharge of fuel during oil processing, on-floor accidental spillage, leakage through large-scale petroleum units, oil drilling accidents, and oil transportation. It may also cause physiological or behavioral disruptions of species. An oil spill directly damages not only animals, plants and corals, fisheries, but also affects human activity in the area of fisheries through damaging of fishing boats, fishing gear, floating fishing equipment. Furthermore, oil and chemical spills on the workplace can cause major accident in the industry. Thus, to control oil pollution of the ocean various government regulatory has imposed laws, which is likely to boost the global industrial absorbent market during the forecast period.

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Market Restraint:

There are numbers of clean-up solutions available in the industrial and commercial market such as crushed clay, sorbent pads, alumina silicate, diatomaceous earth, plant by-products, and montmorillonite. All these substitutes are used primarily for oil and grease cleanup. Moreover, some of these substitutes are relatively less in cost compared to absorbent which is likely to hamper the global industrial absorbents market.

Industrial Absorbents Market: Key Segments

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Industrial Absorbents Market: Report Scope

The report on the Industrial Absorbents market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2019–2027

Base Year for Market Calculation

2020

Forecasted Period

2021–2027 (2021 estimated year, forecasted up to 2027)

Measured Units

Value (USD Billion)

Segments Included

Material Type, Product, Type, End-users, and Region

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South Africa

Key Companies Covered

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Industrial Absorbents Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Industrial Absorbents Market, by Material Type

Industrial Absorbents Market, by Product

Industrial Absorbents Market, by Type

Industrial Absorbents Market, by End User

Industrial Absorbents Market, by Region

Key Questions Answered By The Report

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Table of Content

1 Introduction

2 Research Design & Scope

3 Executive Summary

4 Market Dynamics

5 Industry Trends — Porters Five Forces Analysis

6 GLOBAL INDUSTRIAL ABSORBENTS MARKET BY MATERIAL TYPE, Market Size in USD Million (2019–2027)

7 GLOBAL INDUSTRIAL ABSORBENTS MARKET BY PRODUCT, Market Size in USD Million (2019–2027)

8 GLOBAL INDUSTRIAL ABSORBENTS MARKET BY TYPE, Market Size in USD Million (2019–2027)

9 GLOBAL INDUSTRIAL ABSORBENTS MARKET BY END-USER, Market Size in USD Million (2019–2027)

10 Competitive Landscape

11 Company Profiles

12 Appendix

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