Adsorbent Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Global Adsorbent Market: Snapshot
The global market for adsorbents has expanded at a steady pace in the past few years owing to a vast rise in its set of applications. The market continues to serve a rising number of areas, processes, and operations across a number of industries and is likely to witness a healthy growth pace over the period between 2017 and 2025. This report presents a thorough account of the past and present growth dynamics of the market and gives a detailed account of it’s potential future growth trajectory.
One of the key factors to have worked favorably for the market is the vast rise in the global consumption of petroleum products—an industry which is a key consumer of adsorbents during a number of activities. Thus the constant rise in production of natural gas and crude oil over the recent years is also expected to have a positive implication on the overall scope of development of the global adsorbents market. The market is also expected to benefit from the thriving global pharmaceutical industry as adsorbents find use across applications such as drying of air-synthesis products, product deodorization, and instrument drying.
Geographically, the market in Asia Pacific is presently the dominant regional market for adsorbents, thanks mostly to the thriving packaging sector in the region. Owing to an increased demand for the safe delivery of a variety of packages containing products ranging across a number of industries, the region has witnessed the increased adoption of desiccants such as silica gel, which can protect products from moisture. Moreover, the steadily expanding electronics industry in the region, which is also an emerging market for desiccants, is also expected to drive the market for adsorbents.
Global Adsorbent Market: Overview
Adsorbents are insoluble materials with liquid covering the surface, including capillaries and pores. Adsorbents have the capability to contain certain amounts of liquid in small chambers just like a sponge. They play a crucial role in chemical absorption that occur when a particular substance gets trapped on the surface of the material.
The market for adsorbents has been rising steadily on the back of its range of applications. They have a crucial role in various industrial processes such as water purification, synthetic resin, and activated charcoal. They are also used across industries for capturing and reusing waste heat to produce cold water used in air conditioning. Besides, adsorbents help to reduce corrosion in different machinery and equipment in industries.
Global Adsorbent Market: Key Trends
At the forefront of driving the market for adsorbent is the rising industrialization, especially in the nations of India and China. This is because the materials find widespread usage in removing and controlling trace contaminants from different industrial processes, namely manufacturing low sulfur fuels. Apart from that, sustained expansion in key end use industries such as chemicals and petrochemicals and water and water treatment is also fuelling demand in the market.
Demand for adsorbents are also being underpinned by their application in insulating glass windows to stamp out of mercury in natural gas or crude oil wellhead.
There is one drawback, however, which is crimping growth in the market to an extent. It is the difficulty in procuring raw materials for a few kinds of adsorbents.This also makes those raw materials exorbitantly high priced.
Global Adsorbent Market: Market Potential
There are various types of adsorbents available in the market such as silica gel, activated alumina, carbons, zeolites, polymers and resins, molecular sieves, and clay. Among them, the molecular sieves, having precise and uniform sized tiny pores, allow small molecules to pass while blocking the large ones. They form a significant proportion of adsorbents because of their widespread application in petrochemicals to eliminate trace contaminants namely sulfur and water from the feed, air separation to produce oxygen having high degree of purity, and drying applications.
Global Adsorbent Market: Regional Outlook
From a geographical perspective, North America is a region to lookout for in the global market for adsorbent both vis-à-vis value and volume. The wonder material is mostly used for air separation and drying and water treatment in the region. The adsorbents produced in the region are mainly exported to other regions. The U.S. accounts for a dominant position in the North America market.
Global Adsorbent Market: Competitive Dynamics
Despite a handful of players operating in the global market for adsorbents, overall competition is stiff on account of them pouring money into product development and on a constant lookout for mergers and acquisitions, joint ventures, and collaborations. Some such savvy companies in the market that have attained a prominent position are Arkema S.A, BASF SE, W.R Grace and Company, Calgon Carbon Corporation, and Axens S.A.
The global adsorbent market can be segmented into the following:
Global Adsorbent Market, by Type
Global Adsorbent Market, by Application
Global Adsorbent Market, by Region
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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