Luton, Bedfordshire, United Kingdom, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Mineral Adsorbent Market.
The global Mineral adsorbents market is expected to grow at 6% CAGR from 2023 to 2029. It is expected to reach above USD 6.59 billion by 2029 from USD 3.9 billion in 2022.
Mineral adsorbents have been finding important applications in the inhibition of mycotoxins in animal feeds. Mycotoxins are poisonous metabolites produced by numerous fungi species. In recent times, mineral adsorbents based on natural zeolite and bentonite applications have been playing an important application in the form of their use in animal diets with the intention of prevention of poisoning caused by mycotoxins, especially in the poultry industry.
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Recent Development
- 12 May 2022- Axens and Toray Films Europe to boost Plastic Circular Economy with a new PET Chemical Recycling Plant in Saint-Maurice-de-Beynost (France)
- Axens, worldwide provider of technologies, products and services, and Toray Films Europe, market leader in engineering plastics films, are announcing their collaboration to study a PET chemical recycling facility at Toray Films Europe production site in Saint-Maurice-de-Beynost (Ain, France).
- September 2021, Shell and BASF announced their plans of working together to promote the transition to a zero-emissions world.
- As part of their collaboration, the two firms investigated, de-risked, and deployed BASF's Sorbead Adsorption Technology for pre-and post-combustion applications in Carbon Capture & Storage. Shell uses Sorbead Adsorption Technology to dehydrate CO2 gas that is captured using Shell's carbon capture technologies. such as ADIP Ultra or CANSOLV.
The Asia-Pacific segment held a significant market share in 2022 and is likely to dominate the segment during the forecast period.
The region’s growth is attributable to the extensive increase in India and China's imports and exports to meet their energy needs. Energy-related imports and exports by India and China are a major reason for the region's growth. The petrochemical industry in this region is significantly contributing to the market's expansion.
Denitrogenating/Desulfurization technology is creating immense opportunities for the market.
Refineries are being forced to handle heavier stocks due to increased demand for distillate fuels and decreasing supplies of lighter, easier-to-process crude oil. The main problems encountered during the distillation process are the high levels of nitrogen and sulphur in these stocks. Nitrogen and sulphur oxides are released when these stocks are burned, posing significant environmental risks. Hydro-sulfurization and hydrogenation are two common methods used in refineries around the world to eliminate nitrogen/sulphur compounds from liquid fuels.
High levels of impurities lessen the life of adsorbent which may hamper the market growth.
When molecules of various chemicals come into contact with an adsorbent, they become attached to it or adsorbed to it. The adsorbent remains occupied until impurities, or sludge, are removed, a process known as regeneration. However, adsorbent regeneration is not always effective and is sometimes impossible. Further to that, since adsorbents have a limited capacity to adsorb, they may not be able to refine and purify contaminated substances indefinitely. Moreover, the regeneration capacity also differs from adsorbent to adsorbent. Activated carbon is one of the most expensive adsorbents and has a limited capacity for regeneration, which limits its use and application. Thus, the market’s growth is hindered by the short lifespan of adsorbents.
Mineral Adsorbent Market Report Scope
| Report Attribute | Details |
| Market size value in 2021 | USD 3.9 billion in 2022 |
| Revenue forecast in 2029 | USD 6.59 billion by 2029 |
| Growth rate | CAGR of 6% from 2023 to 2029 |
| Base year for estimation | 2022 |
| Historical data | 2017 - 2022 |
| Forecast period | 2023 - 2029 |
| Quantitative units | Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, application, region |
| Regional scope | North America; Europe; China; Asia; Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Poland; Spain; India; Japan; Thailand; Malaysia; Indonesia; Vietnam; Singapore; Philippines; Brazil; Argentina; Saudi Arabia; UAE; Oman |
| Key companies profiled | Axens S.A., BASF SE, Cabot Corporation, Arkema S.A., Calgon Carbon Corporation, Clariant AG, W.R. Grace, Graver Technologies, Sorbead, Honeywell UOP |
| Key Market Opportunities | Adsorbents are versatile and can be used in various industries, including biofuels, oil & gas, pharmaceuticals, nuclear, automobiles, construction, chemicals, refrigeration, and petrochemicals. |
| Key Market Drivers | Adsorbents are extensively used in industrial processes for separating or reducing concentrations of a specific component. |
| Customization scope | Pressure swing adsorption (PSA) is a technology used to separate some gas species from a mixture of gases under pressure according to the species’ molecular characteristics and affinity for an adsorbent material. This has driven the demand for adsorbents. |
| Pricing and purchase options | The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. |
Key Players Operating in Market
The global mineral adsorbent market is a fragmented market with presence of several international and domestic manufacturers. Presence of a large number of small- and medium-sized players makes the market highly competitive. High growth potential of the market is attracting new local as well as international players toward the market. Key players operating in the global mineral adsorbent market include: Axens S.A., BASF SE, Cabot Corporation, Arkema S.A., Calgon Carbon Corporation, Clariant AG, W.R. Grace, Graver Technologies, Sorbead, Honeywell UOP
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Key Market Segments: Mineral Adsorbent Market
Mineral Adsorbent Market by Type, 2023-2029, (USD Million)
- Molecular Sieves
- Activated Carbon
- Silica Gels
- Activated Alumina
- Others
Mineral Adsorbent Market by Application, 2023-2029, (USD Million)
- Petroleum Refining
- Gas Refining
- Water Treatment
- Air Separation
- Others
Key Drivers of Global Mineral Adsorbent Market
- The mineral adsorbent market growth is fueled by high potential from molecular sieves and activated carbon; increase in global demand for petroleum refining and chemicals/petrochemicals; and growth in gas refining industry
- Mineral adsorbents have applications in purification of streams of hydrocarbons in the chemical industry, purification of industrial gases, and other purification processes. These applications of mineral adsorbents are important in chemical processing, gas processing, petrochemical applications, dimerization, and refining.
Key Trends
- It has been observed that bentonite type of mineral adsorbents represents a diverse range of products and hence, find a considerable number of industry applications. These mineral adsorbents include the F-series of activated clay mineral adsorbents, which are quite standardized from an industry perspective.
- These mineral adsorbents have been using a reliable and an established activation technology for effective purification of chemicals, such as benzene, toluene and xylene. These developments combined have been contributing to the market growth of the mineral adsorbents market at a global level in recent times.
- Mineral adsorbents have also been playing a positive role in averting unintended plant shutdowns on account of their longer life span with regard to olefin and nitrogen removal applications in the chemical industry. For instance, the popular F-series of mineral adsorbents offers a portfolio of aromatic solutions with industry standard performance.
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