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:
- Growing Environment-Related Regulations Imposed on Oil and Chemical Spills on the Environment
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:
- Availability of Substitutes
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
- Segmentation based on material type: Synthetic and Natural
- Segmentation based on product: Pads, Rolls, Pillows, Granules, Booms & Socks, Sheets & Mates, and Others
- Segmentation based on type: Oil-only, Universal, and HAZMAT/Chemical
- Segmentation based on end-users: Oil & Gas, Chemical, Food Processing, and Others
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
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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
- 3M (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Brady Corporation
- Johnson Matthey
- Oil-Dri Corporation of America.
- ANSELL LTD.
- New Pig Corporation.
- Monarch Green, Inc.
- Decorus Europe
- Meltblown Technologies Inc.
- UES Promura
- Kimberly-Clark Worldwide, Inc. (KCWW)
- Jaycot
- Chemtex
- TOLSA
- ASA Environmental Products
- GEI Works
- Other Key Companies
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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
- Synthetic
- Natural
Industrial Absorbents Market, by Product
- Pads
- Rolls
- Pillows
- Granules
- Booms & Socks
- Sheets & Mats
- Others
Industrial Absorbents Market, by Type
- Oil-only
- Universal
- HAZMAT/Chemical
Industrial Absorbents Market, by End User
- Oil & Gas
- Chemical
- Food Processing
- Others
Industrial Absorbents Market, by Region
- North America
- US
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
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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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