Industrial Absorbents Market Size is Expected to Reach US$ 6.4 Billion by 2031, Rising at a Market Growth of 3.9% CAGR During the Forecast Period | Transparency Market Research, Inc.
Industrial absorbents are utilized more often to clean up oil spills owing to their minimal environmental effect, low production costs, and low energy requirements
Wilmington, Delaware, United States, May 31, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global Industrial Absorbents Market size stood at US$ 4.5 Bn in 2022 and is anticipated to reach US$ 6.4 Bn by 2031.
The global industry is likely to grow at a CAGR of 3.9% between 2023 and 2031. One of the main factors driving the need for industrial absorbents is the enforcement of stringent regulations in organizations to achieve occupational safety. Additionally, expansion of the oil & gas sector is expected to boost market development.
Rise in oil spills across different regions is also expected to drive market demand. Industrial absorbents are durable, trustworthy, and recyclable. They are utilized extensively in end-use sectors such as automotive, food processing, healthcare, and chemicals, since they have high oil retention ability and durability. Innovative and economical products are helping manufacturers take advantage of significant market prospects for industrial absorbents.
Industrial absorbents refer to insoluble substances with a large capacity for fluid/solution absorption. They are employed to clean up substances or liquids that have been split on the ground or other surfaces. These compounds can absorb liquids, which causes swelling and an increase in material size. Products that contaminate the environment are treated using industrial absorbents, which is expected to drive business growth.
Industrial absorbents can be used safely on any surface, substance, or product since they are inert. In case of unintentional fluid spills or leaks, absorbents are employed as a quick fix. A safe and clean work environment is made possible by absorbents. Spun bounds, socks, rolls, booms, and pillows are a few types of industrial absorbents that are usually available.
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Key Findings of Market Report
- Man-made substances include synthetic absorbents such as polyethylene, polypropylene, and polyurethane. Numerous industries are embracing synthetic absorbents, notably polypropylene. The strongest absorbents are those made of synthetic materials, which can also be reused again. Additionally, they can be prepared to be used on dangerous compounds such as acids. As a result, the need for synthetic absorbents is anticipated to grow in the next few years.
- The HAZMAT (hazardous materials)/chemical type segment is anticipated to dominate the global market between 2023 and 2031. These synthetic absorbents are used in industry to wipe up spills of hazardous compounds. HAZMAT absorbents also aid in the cleanup of strong liquid and chemical spills.
- Industrial absorbent rolls are useful for soaking up spills and leaks. Additionally, they support in maintaining the moisture of floor surfaces. Rolls made of absorbent material are quite effective. These rolls, which can clean up spills including petroleum, are often employed in outdoor as well as indoor environments in a variety of sectors. Growing demand for rolls across a range of end-use industries is a key factor leading to the expansion of the industrial absorbents business.
- The chemical end-use category is expected to hold a sizable market share from 2023 to 2031. Some chemicals are dangerous and need to be cleaned up right after a spill to prevent their adverse effects on the environment. Industrial absorbents reduce the risk of damage from dangerous chemicals and assist in managing chemical/fluid leaks in the chemical industry. As a result, the chemical industry’s growing need for industrial absorbents is accelerating market development.
Global Industrial Absorbents Market: Growth Drivers
- Oil spills are likely to occur often in the oil & gas industry. Industrial absorbents are utilized to protect both the environment and employees. As a result, the industry has experienced strong demand for industrial absorbents in recent years. A surge in gas and oil spills in both water and on land is predicted to keep the trend going in the near future. Fresh natural gas and crude oil reserves are also expected to drive market demand. With the expansion of the oil & gas industry, usage of industrial absorbents in events of oil spill is expected to rise, which is expected to drive market development.
- Growing usage of industrial absorbents in companies can be attributed to the establishment of strict worker safety standards, such as OSHA guidelines. Strict regulations from the governments in North America and Europe have been implemented to prevent chemical and oil leaks. Regulations for spill management have been passed by the Environmental Protection Agency (EPA) of the U.S. These laws lay strong emphasis on worker safety, environmental protection, public health, waste reduction, and preservation of cultural assets. Increase in implementation of stringent government regulations is likely to bolster growth of the global market.
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Global Industrial Absorbents Market: Regional Landscape
- In 2022, North America represented a sizable portion of the global market. The region is expected to lead the market owing to the expansion of a number of industries, particularly oil & gas in Canada and the U.S. In North America, the market for industrial absorbents is expanding, ascribed to rising industrialization and profitable presence of major producers. Adoption of stringent requirements to achieve workplace safety is projected to lead to a rise in demand for industrial absorbents in the region.
Global Industrial Absorbents Market: Key Players
Some of the key players in the global industrial absorbents market are as follows:
- Brady Worldwide, Inc.
- Kimberly-Clark Worldwide, Inc.
- The 3M Company
- Meltblown Technologies Inc.
- New Pig Corporation
- Oil-Dri Corporation of America
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Global Industrial Absorbents Market: Segmentation
By Material Type
- Organic
- Inorganic
- Synthetic
By Type
- Oil-only
- Universal
- HAZMAT / Chemical
By Product Type
- Pads
- Rolls
- Pillows
- Socks or Snakes
- Booms
- Loose Sorbents
- Spun Bounds
- Others
By End-use
- Oil & Gas
- Chemical
- Automotive
- Food Processing
- Healthcare
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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