Global Industrial Absorbents Market Overview

Global Industrial absorbents market is projected to reach USD 4.7 billion by 2024, growing at a CAGR of 5.1% during the forecast period. Regulations concerning oil and chemical spills as well as growing concerns about environment are the main factors expected to aid growth in global industrial absorbents market during forecast period. However, saturation and buoyancy of industrial absorbent products as well as availability of cost-effective substitutes of industrial absorbents hinder the industrial absorbents market globally.

Global Industrial Absorbents Market Segmentation

Global Industrial Absorbents Market has been categorized into product, type, end-use industry, material type and regional distribution. Rolls, pads, booms and socks are the segments covered under product type. Of these categories, booms and socks are ideal industrial absorbents for spill control. These are extensively used for oil-based spill control in water environment. Notably, booms have exceptional water repelling properties and are best suited for water environment like lakes, ponds and sea. On the other hand, socks are flexible tubes, which are used to control and contain spills on land environment and are ideal for rapidly absorbing water-based or oil-based liquid spills on land. Based on material type, the market has been bifurcated into synthetic, natural organic and natural inorganic. Based on type, the market has been segmented into oil-only, universal and HAZMAT. Considering the type segment, HAZMAT is anticipated to be one of the largest contributors in industrial absorbents market during the forecast period. Stringent regulations in regions like Europe and North America on chemical discharge into the environment are boosting demand for spill control products. Based on end-use industry, the market has been segmented into chemicals, oil & gas and food processing. Chemicals are hazardous materials and can cause severe harm to humans or environment, if accidentally released or spilled in the environment. The manufacturers of chemicals need to immediately respond to accidental spills that occur during manufacturing processes to minimize the impact of spills on the environment. Furthermore, regions like Europe and North America have stringent norms with respect to chemicals and spill response. All these factors propel the growth of industrial absorbents in the chemical end-use industry.

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Global Industrial Absorbents Market Regional Segmentation

Asia-Pacific industrial absorbents market is expected to register the highest growth rate, owing to growing awareness and pressure to reinforce strict environmental regulations for spill response and control as well as pollution caused by end-user industries. The industrial absorbents market in Asia-Pacific is driven by demand from countries like China, India, South Korea and Japan, owing to rapid industrialization and increasing occurrences of small liquid spills across end-user industries.

Competitive Landscape

Some of the leading companies in global industrial absorbents market are 3M Company, Brady Corporation, Johnson Matthey Plc, Oil-Dri Corporation of America, Ansell Limited, New Pig Corporation, Monarch Green, Inc., DecorUS Europe Ltd. and Meltblown Technologies Inc.

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Some of the leading players in global industrial absorbents market are 3M Company, Brady Corporation, Johnson Matthey Plc, Oil-Dri Corporation of America, Ansell Limited, New Pig Corporation, Monarch Green, Inc., DecorUS Europe Ltd. and Meltblown Technologies Inc.

TechSci Research calculated Worldwide Industrial Absorbents Market size using a top-down approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

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