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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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.
Type Outlook (Revenue, USD Million; 2019-2030)
Material Type Outlook (Revenue, USD Million; 2019-2030)
- Natural Organic
Product Type Outlook (Revenue, USD Million; 2019-2030)
- Booms & Socks
- Sheets & Mats
End-Use Outlook (Revenue, USD Million; 2019-2030)
- Oil & Gas
- Food Processing
Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- 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.
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