Industrial Absorbents Market to exceed US$ 5.50 billion by 2031

    Published on 19-Jun-2024
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    Report : Industrial Absorbents Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (Pads, Rolls, Pillows, Booms, Socks, and Others), Type (Universal, Oil-Only, and Hazmat/Chemical), End-Use Industry (Oil & Gas, Chemical, Food Processing, Healthcare, Automotive, and Others), and Geography

    The scope of our recent study on the "Industrial Absorbents Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Product Type, Type, and End Use" includes the factors fueling the market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.

    The industrial absorbents market size was valued at US$ 3.94 billion in 2023 and is expected to reach US$ 5.50 billion by 2031; it is estimated to register a CAGR of 4.3% from 2023 to 2031.

    With burgeoning microplastic pollution and increasing awareness about environmental sustainability, there is a rising demand for biodegradable absorbents made from natural and organic materials. Conventional industrial absorbents are made of polyethylene, polypropylene, and polyurethane, which are effective in cleaning oil and other liquid spills; however, they end up in landfills, potentially leaching harmful chemicals and microplastics into the environment over time. Therefore, manufacturers are developing sustainable alternatives that help in the effective cleanup of spills while being less hazardous to the environment. For instance, in August 2023, EarthSafe expanded its portfolio of spill containment products by introducing FlashDry coir absorbent, which is sustainable and made from 100% organic husks. It is classified as a universal hazmat absorbent that works for all kinds of spills. Its hydrophobic and oleophilic properties make it ideal for various industrial spills, such as automotive fluids, lubricants and degreasers, marine oil spills, paints, chemicals, and resins. Such products are trending in the industrial absorbents market and are expected to witness tremendous demand in the coming years.

    Government agencies are collaborating with biodegradable industrial absorbent manufacturers to support sustainable economic development. For example, in June 2022, Green Boom, a manufacturer of eco-friendly oil absorbent products, signed a Memorandum of Understanding with the Investment Promotion Agency Qatar (IPA Qatar) during the second annual Qatar Economic Forum to introduce its biodegradable industrial absorbents to the Middle East and Qatari market. The IPA Qatar aims to accelerate innovative manufacturing technologies in Qatar by partnering with Green Boom in an attempt to support the commitment to transforming into a sustainable and knowledge-based economy in the coming years. Such collaborations are also expected to boost the demand for biodegradable industrial absorbents, favoring the market growth.

    On the basis of end-use industry, the industrial absorbents market is segmented into oil & gas, chemical, food processing, healthcare, automotive, and others. The global industrial absorbents market share for the oil and gas segment was the largest in 2023. The chemical segment is another attractive segment in global industrial absorbents market. Chemical spill kits help minimize potential damage to personnel, equipment and manufacturing or laboratory space during the event of an accidental leak or spill. Industrial absorbents such as diatomaceous and sepiolite earth are an important part of the chemical industry as they help absorb chemicals spilled during manufacturing or transportation and minimize the impact of spills on the environment. These absorbents help soak up different acids and hazardous products. The chemical industry is also expanding rapidly worldwide, thereby driving the demand for industrial absorbents.

    The market is segmented into five main regions-North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. Asia Pacific held the largest revenue share of the market in 2023. Europe is another attractive region in global industrial absorbents market. The increasing utilization of industrial absorbents from various industries propels the market growth in Europe. The strong presence of the chemical industry in countries such as Germany, France, the UK, and Italy creates a huge demand for industrial absorbents from the chemical industry. Russia is one of the world's largest oil & natural gas producers, creating a demand for industrial absorbents from the oil & gas sector. Industrial absorbents can absorb all oils and chemicals spills and discharges in water bodies. The strong manufacturing industry from countries such as Germany, France, and the UK drives the industrial absorbents market growth in the region. The growing automotive industry is also propelling the demand for industrial absorbents in the region.

    The report includes the segmentation of the global industrial absorbents market as follows:

    The global industrial absorbents market is divided based on product type, type, end-use industry, and geography. Based on product type, the industrial absorbents market is segregated into pads, rolls, pillows, booms, socks, and others. In terms of type, the market is segmented into universal, oil-only, and hazmat/chemical. On the basis of end-use industry, the market is segregated into oil & gas, chemical, food processing, healthcare, automotive, and others. By end use, the market is segmented into residential, commercial, industrial, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.

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