Industrial Absorbents Market Sees Explosive Growth Globally

According to the latest research report published by Market Data Forecast, the global industrial absorbents market was worth US$ 6.11 billion in 2023 and is anticipated to reach a valuation of US$ 9.31 billion by 2029 and it is predicted to register a CAGR of 7.26% during the forecast period 2024-2029.

The industrial absorbents market is expected to expand at a CAGR of 4 per cent. The market size is valued at USD 4.3 billion in 2023. The industry is propelled by the rising ecological problems and rules and regulations to counter this.

Global Industrial Absorbents Market Report Scope:

• Market Size (2029): USD 9.31 Billion
• Market Size (2023): USD 6.11 Billion
• CAGR (2024 to 2029): 7.26%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Product, Type, End-use, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: 3M Company (US), Brady Corporation (US), Decorus Europe Ltd. (UK), Johnson Matthey Plc, Kimberly-Clark Professional, Meltblown Technologies Inc. (US), Monarch Green, Inc. (US), New Pig Corporation (US), and Oil-Dri Corporation of America (US), and Others.

Market Drivers:

The growing toxicity of leaks, spills and flammable chemicals is driving the industrial absorbents market. This has caused technological developments and innovations. For instance, the Super Absorbent Fibre (SAF) was displayed by Technical Absorbents between February 28 and March 1 at the Vietnam International Trade Fair for Apparel, Textiles and Textile Technologies in Ho Chi Minh City.

Moreover, the rising demand for eco-friendly absorbent products is another factor fuelling the market expansion. The companies are trying to transform the spill prevention and response industry. Likewise, the Green Boom introduced its biodegradable oil absorbents at the ADIPEC event in Abu Dhabi.

The chemical and boom segments are expanding at a rapid pace. This is due to the continuous expansion of oil and gas operations around the world. Chemical companies are bound by the strict regulations. In addition, the industry is predicted to grow because of the increasing need for industrial absorbents in the food and beverages and oil and gas sectors amplifying rising trade, environmental problems, public recognition and globalization. Hence, the industrial absorbents market share is expected to further elevate in the future.

Market Restraints:

The industrial absorbents market is likely to be restricted by the changing raw material costs. This is because of the of weak global economy, changing government stance and approach and supply chain interruptions. These are mainly utilised in the industrial absorbents manufacturing. Moreover, the expensive biodegradable solutions are also hampering the market growth rate.

The industrial absorbents market is highly matured and competitive which is obstructing the entry of new players and any other room for development. There is already set standards for the application and size of pillows, pads, booms, rolls and socks and these can only absorb to a certain limit. Furthermore, the oleophilic or hydrophobic properties of spill control products diminishes its buoyant abilities with the consistent touch with chemicals, oils and water. Thus, it is reducing the effectiveness in recovery and absorption of liquids. Furthermore, the easy availability of substitutes is further hurting the market expansion. This includes montmorillonite and crushed clay.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/industrial-absorbents-market

Key Insights from The Report:

• Based on product, the booms and socks segment led the market and accounted for the largest share of the global market in 2023.
• Based on type, the HAZMAT/chemical segment captured the highest share of the global market in 2023.
• Based on end-use, the Chemical segment occupied the majority of the global market share in 2023.
• Asia-Pacific dominated the industrial absorbents market in 2023. North America accounted for the second-highest share of the global market in 2023 and on the other hand, the Europe region is estimated to grow at the fastest CAGR during the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Product
• Pads
• Rolls
• Pillows
• Granules
• Booms and Socks
• Sheets and Mats
• Others

By Type
• Universal
• Oil-only
• HAZMAT/Chemical

By End-use
• Oil and gas
• Chemical
• food processing
• healthcare
• others
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions

2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline

3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market

5. Market Segmentation
5.1 Industrial Absorbents Market, By Material Type
5.1.1 Introduction
5.1.2 Organic
5.1.3 Inorganic
5.1.4 Synthetic
5.1.5 Y-o-Y Growth Analysis, By Material Type
5.1.6 Market Attractiveness Analysis, By Material Type
5.1.7 Market Share Analysis, By Material Type
5.2 Industrial Absorbents Market, By Product
5.2.1 Introduction
5.2.2 Pads
5.2.3 Rolls
5.2.4 Booms & Socks
5.2.5 Others
5.2.6 Y-o-Y Growth Analysis, By Product
5.2.7 Market Attractiveness Analysis, By Product
5.2.8 Market Share Analysis, By Product
5.3 Industrial Absorbents Market, By Type
5.3.1 Introduction
5.3.2 Universal
5.3.3 Oil-only
5.3.4 HAZMAT/Chemicals
5.3.5 Others
5.3.6 Y-o-Y Growth Analysis, By Type
5.3.7 Market Attractiveness Analysis, By Type
5.3.8 Market Share Analysis, By Type
5.4 Industrial Absorbents Market, By End-Use Industry
5.4.1 Introduction
5.4.2 Oil & Gas
5.4.3 Chemical
5.4.4 Food Processing
5.4.5 Others
5.4.6 Y-o-Y Growth Analysis, By End-Use Industry
5.4.7 Market Attractiveness Analysis, By End-Use Industry
5.4.8 Market Share Analysis, By End-Use Industry

6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Material Type
6.1.3.3 By Product
6.1.3.4 By Type
6.1.3.5 By End-Use Industry
6.1.4Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Material Type
6.1.4.3 By Product
6.1.4.4 By Type
6.1.4.5 By End-Use Industry
6.1.5Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Material Type
6.1.5.3 By Product
6.1.5.4 By Type
6.1.5.5 By End-Use Industry
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa

7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry

8. Market Leaders' Analysis
8.1 Absorbent Products Ltd.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 3M Company
8.3 Brady Corporation
8.4 Decorus Europe Ltd.
8.5 Johnson Matthey Plc
8.6 Kimberly-Clark Professional
8.7Meltblown Technologies Inc.
8.8 Monarch Green, Inc.
8.9New Pig Corporation
8.10Oil-Dri Corporation of America

9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches

10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures

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