Industrial Absorbents Market Size, Growth Opportunities, Revenue Share Analysis, and Forecast To 2030
The
global Industrial Absorbents Market size is expected to reach USD 6,255.3 Million in
2030 and register a revenue CAGR of 4.8% over the forecast period, according to
latest report by Reports and Data. Emergence of biodegradable industrial
absorbents and increasing focus on environmental sustainability are key factors
expected to drive market growth over the forecast period. The market for
industrial absorbents is being engulfed with ‘readily biodegradable' products.
Companies across the world are stepping up their research efforts to develop
ready-to-use biodegradable products made from naturally occurring ingredients.
While majority of players are focused on developing new synthetic absorbents,
others are aiming for a circular economy in order to gain consumer trust.
The
global Industrial Absorbents market research report provides a brief overview
inclusive of competitive landscape and key developments in the market. It
provides an extensive study analysis of the strategic alliances such as mergers
and acquisitions, joint ventures, collaborations, product launches and brand
promotions, corporate deals and partnerships, among others. It also offers
insights into company overview, financial standing, business expansion plans,
and revenue growth of each company. It also sheds light on product advancement,
technological developments, and research and development activities.
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Key
Players:
Major
companies in the market report include 3M Company, Decorus Europe Ltd.,
Kimberly-Clark Worldiwde Inc., Monarch Green, Inc., Johnson Matthey plc, Jaycot
Industries, ASA Environmental Products, Inc., UES Promura, EP Minerals LLC, and
Chemtex Speciality Limited
Some
Key Highlights from the Report:
- HAZMAT
segment is expected to register a rapid revenue growth rate over the
forecast period. HAZMAT absorbent products are used to clean up
spills containing acids, bases, and other hazardous or unknown liquids
since these spills might harm environment and endanger living beings in
vicinity. HAZMAT absorbent products are mostly composed of synthetic
absorbents and are designed to absorb acidic or caustic fluids.
- Booms &
socks segment accounted for largest revenue share in the global industrial
absorbents market in 2021. Booms & socks are excellent industrial
absorbents for spill control. Booms & socks are widely utilized in
water environment to manage oil-based spills. Booms have exceptional water
repellency and are ideally suited for water areas such as sea, lakes, and
ponds. Socks are flexible tubes used to control and contain spills on
land. They are ideal for swiftly absorbing oil- or water-based liquid
spills.
- Chemical
segment is expected to account for largest revenue share in the global
industrial absorbents market over the forecast period. Chemicals are
hazardous compounds, if discharged or spilled in environment, can cause
serious harm to humans and environment. Chemical accidents generally occur
when stored chemicals are transported. To reduce the impact of spills on
environment, chemical manufacturers need to respond immediately to accidental
spills that occur during manufacturing processes. Moreover, regions such
as North America and Europe have strict chemical and spill response
regulations. All of these factors have fueled growth of the industrial
absorbents market in chemical industry.
- Market in
Asia Pacific is expected to register highest revenue share in the global
industrial absorbents market during the forecast period, due to growing
awareness and pressure to impose strict environmental regulations for
spill response and control, as well as pollution generated by end-use
industries. Industrial absorbents market in Asia Pacific is being driven
by demand from countries such as India, China, South Korea, and Japan, due
to increasing industrialization and rising incidences of small liquid
spills across end-use industries.
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Key
Questions Addressed in the Report:
- What is the
expected revenue growth rate the global Industrial
Absorbents market is expected to register during the forecast period?
- What are the
key growth driving factors of Industrial Absorbents market?
- Who are the
leading players in the market?
- What are the
key outcomes of SWOT analysis and Porter’s Five Forces analysis?
- Which region
is expected to account for the largest market share in the
global Industrial Absorbents
Regional
analysis covers study of the market in key geographical regions of the world
including North America, Europe, Asia Pacific, Latin America, and
Middle East & Africa. The report further predicts the regions expected
to account for the largest revenue share in the forecast period and the CAGR
for the forecast period. The section further discusses in detail the production
and consumption ratio, supply and demand, export and import, consumer demand
and behavior, and presence of key players in each region. The section further
offers a country-wise analysis to provide deeper insights into the global
market.
An
extensive analysis of the global market is included in the report which covers
different factors from region-centric key statistical data to macro- and
micro-economic factors that are crucial for forecast assessment. The study also
offers a comprehensive analysis of the growth prospects, patents, technological
advancements, and product launches in the market.
Market
Segmentation:
Type
Outlook (Revenue, USD Million; 2019-2030)
- Universal
- Oil-only
- HAZMAT
- Others
Material
Type Outlook (Revenue, USD Million; 2019-2030)
- Natural
Organic
- Inorganic
- Synthetic
Product
Type Outlook (Revenue, USD Million; 2019-2030)
- Pads
- Rolls
- Pillows
- Granules
- Booms &
Socks
- Sheets &
Mats
- Others
End-Use
Outlook (Revenue, USD Million; 2019-2030)
- Chemical
- Oil & Gas
- Food
Processing
- Healthcare
- Others
Regional
Outlook (Revenue, USD Million; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of
Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of
LATAM
- Middle East
& Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Key
Points Addressed in the Report:
- A detailed
analysis of the global Industrial Absorbents market through
assessment of key market aspects such as technology, product type,
application, end-use, and overall industry dynamics.
- Qualitative
and quantitative analysis of the market estimation and CAGR calculation
for the forecast period.
- All-inclusive
assessment of market dynamics with emphasis on drivers, restraints,
opportunities, and limitations.
- Extensive
profiling of key companies operating in the market including company
overview, financial standing, product offerings, product portfolio, recent
product and technological advancement, and business expansion plans.
Thank
you for reading this article. You can also get chapter-wise sections or
region-wise report coverage for North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa.
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