New York, NY, June 18, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Industrial Absorbents Market by Material Type (Natural Organic, Natural Inorganic, and Synthetic), by Product (Pads, Rolls, Booms, and Socks), by Type (Universal, Oil-only, and HAZMAT), and by End-User Industry (Oil & Gas, Chemical, and Food Processing): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global industrial absorbents market was approximately USD 3.7 billion in 2018 and is expected to generate around USD 5.51 billion by 2026, at a CAGR of around 5.1% between 2019 and 2026.
Industrial absorbents are used for preventing and cleaning up chemical and oil spills. Chemicals and oil are hazardous materials, which can cause severe harm to the environment and humans if inadvertently spilled or released in the environment. The global industrial absorbents market is likely to witness substantial growth over the forecast timeline, due to the rising concerns related to environment and growing regulations regarding the global chemical and oil spills. However, the easy accessibility to industrial absorbents products cost-effective substitutes, such as crushed clay and Montmorillonite, may hamper the growth of the industrial absorbents market globally in the future.
Browse through 71 Tables & 31 Figures spread over 110 Pages and in-depth TOC on “Global Industrial Absorbents Market: By Product Type, Industry Size, Share, Segments, Demand, Growth, Analysis and Forecast, 2018–2026”.
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The global industrials market is fragmented based on material type, product, type, and end-use industry. Based on the product, the industrial absorbents market includes pads, rolls, booms, and socks. The socks and booms are commonly used in the industrial absorbents market for cleaning oil spills in water. Flexible tubes or socks used for controlling land spills. Socks are ideal for absorbing oil-based or water-based land spills. On the basis of type, the global industrial absorbents market is categorized into universal, oil-only, and HAZMAT. The oil-only segment is expected to grow at the highest rate in the future. The oil-only segment of global industrial absorbents is designed specifically to absorb petroleum hydrocarbons and other oil-based liquids. These oil-based liquids have a huge impact on the environment as well as on human health, which can result in huge economic losses. The growing demand for oil-only liquids spill control products in oil-rich countries is also driving this segment.
Oil and gas, chemical, and food processing comprise the end-user industry segment of the global industrial absorbents market. The chemical industry segment is expected to grow at the highest rate in the future, due to hazardous material advertently spilled or released by the industry, which can cause severe harm to the environment and humans. A chemical spill usually occurs while the transportation of stored chemicals. Chemical manufacturers use industrial absorbents to avoid such accidents. Furthermore, many regions have strict environmental regulations and norms regarding chemical and oil spills.
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Geographically, the Asia Pacific industrial absorbents market is expected to register the highest rate over the forecast timeframe, due to the stringent environmental regulations for chemical and oil spills and rising pollution caused by various end-user industries in the region. Additionally, the high product demand from China, Japan, India, and South Korea has been witnessed, owing to rapid industrialization and increasing occurrences related to liquid spills in the end-user industries.
North America is likely to hold a significant share of the global industrial absorbents market in the future. North America is an established market for industrial absorbents due to strict regulations framed by environmental bodies, such as EPA for spill control, particularly in chemical and oil and gas industries. Moreover, the U.S. and Canada are among the largest consumers of oil and gas.
Browse the full “Industrial Absorbents Market by Material Type (Natural Organic, Natural Inorganic, and Synthetic), by Product (Pads, Rolls, Booms, and Socks), by Type (Universal, Oil-only, and HAZMAT), and by End-User Industry (Oil & Gas, Chemical, and Food Processing): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026” Report at https://www.zionmarketresearch.com/report/industrial-absorbents-market
The European industrial absorbents market is projected to witness significant growth within the forecast time period. Europe is among the largest producers of chemicals, wherein Germany is the largest chemical producing country. Chemicals are hazardous materials, which can cause severe harm to the environment or humans if accidentally spilled or released in the environment, which is likely to drive the European industrial absorbents market in the years ahead.
The Middle East and Africa will hold a major share in the global industrial absorbents market in the years ahead. The region is among the largest producers of oil, making it an established market for industrial absorbents. Oil-based liquids or liquid gases if accidentally released into the environment can have harmful effects on human health and the environmental. Therefore, to overcome the consequences of spills, industrial absorbents are used by the oil and gas producers. This is driving the region’s industrial absorbents market.
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One of the largest oil reserves is found in Venezuela, a Latin American country. It is also among the largest oil producers in the world. Frequent occurrences of small oil spills are witnessed during oil transportation, which is harmful to the marine ecosystem. Thus, to avoid such mishaps, industrial absorbents are used. Due to stringent norms and increasing regulations, such factors are driving the region’s industrial absorbents market.
Some key players operating in the global industrial absorbents market are 3M, Brady Corporation, Decorus Europe, Johnson Matthey, Kimberly-Clark Professional, Meltblown Technologies, Monarch Green, New Pig Corporation, and Oil-Dri Corporation of America.
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This report segments the global industrial absorbents market into:
Global Industrial absorbents Market: Material Type Analysis
- Natural Organic
- Natural Inorganic
- Synthetic
Global Industrial absorbents Market: Product Analysis
- Pads
- Rolls
- Booms
- Socks
Global Industrial absorbents Market: Type Analysis
- Universal
- Oil-Only
- HAZMAT
Global Industrial absorbents Market: End-User Industry Analysis
- Chemical
- Oil and Gas
- Food Processing
Global Industrial absorbents Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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