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.
Manufacturers are promoting awareness regarding recyclable absorbents to alleviate production stress on local farmers. End-use industries benefit from this method as recyclability results in lower waste volumes at the end of cleanup.
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Top Players in the Global Industrial Absorbents Market:
3M Company, Decorus Europe Ltd., Kimberly-Clark Worldwide 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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Market segmentation based on Type Outlook:
- Universal
- Oil-only
- HAZMAT
- Others
Material Type Outlook:
- Natural Organic
- Inorganic
- Synthetic
Product Type Outlook:
- Pads
- Rolls
- Pillows
- Granules
- Booms Socks
- Sheets Mats
- Others
End-Use Outlook:
- Chemical
- Oil Gas
- Food Processing
- Healthcare
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Industrial Absorbents market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Industrial Absorbents market?
- Which regional market is expected to lead in terms of revenue share in the global Industrial Absorbents market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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