Delhi, Dec. 08, 2021 (GLOBE NEWSWIRE) -- The global adsorbent market is thriving with a growing range of advanced applications. Innovations in oil & gas processing, including the increasing use of adsorbents in maintaining purity requirements in numerous applications and environmental concerns, are driving the market's growth….
A study, recently conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the global adsorbents market was worth USD 3.9 billion in 2020 and is further projected to reach USD 5.9 billion by 2027, at a CAGR of 6.0% during the forecast period (2021-2027). With a growing range of advanced applications, the global adsorbent market is growing by leaps and bounds. Furthermore, advancements in oil & gas processing, including the use of adsorbents in maintaining purity in a variety of applications and environmental concerns, are driving the market's growth. Adsorbents are versatile and can be used in various industries, including biofuels, oil & gas, pharmaceuticals, nuclear, automobiles, construction, chemicals, refrigeration, and petrochemicals.
Numerous industrial applications of adsorbents promote the market growth
Adsorbents are extensively used in industrial processes for separating or reducing concentrations of a specific component. They have many properties, such as high thermal stability, high surface capacity, and abrasion resistance, making them suitable in many industries. The industrial use of adsorbents includes removing odors from gases, drying gases, purifying water, recovering solvent vapors, removing sulfur from gases, removing carbon dioxide from the air, refining minerals and oils, and refining pigments.
Natural resources are dwindling due to rapid urbanization; hence, it is imperative to preserve what is left. Water pollution is one of the major concerns of people around the world. Adsorbents have been used to purify water for centuries. The first time activated carbon was used in water supply was in 1928 in the United States. The wastewater produced by a number of industries is treated with adsorbents, such as activated carbon, zeolite, chitosan, and clay minerals before releasing it to the environment. Adsorbents play a key role in removing inorganic impurities, such as metals, dyes, organic derivatives, and other contaminants from wastewater.
With all these applications of adsorbents on an industrial scale, demand for adsorbents will surely rise in the forecast period.
Denitrogenation/Desulfurization Technology is Creating Immense Opportunities for the Market
Due to increased demand for distillate fuels and decreasing supplies of lighter, easier-to-process crude oil, refineries are being forced to handle heavier stocks. The main challenges encountered during the distillation process are the substantial nitrogen and sulfur contents in these stocks. When these stocks are burned, nitrogen and sulfur oxides are released, causing significant environmental risks. In refineries all throughout the world, conventional procedures for removing nitrogen/sulfur compounds from liquid fuels include hydro-sulfurization and hydrogenation. These processes often demand high temperatures, high pressure, and hydrogen consumption. The conventional hydro-desulfurization procedure only eliminates sulfur compounds, not refractory sulfur compounds like those found in liquid fuels. In the conventional procedure, nitrogen molecules compete with sulfur compounds for active sites on catalysts, despite the fact that nitrogen molecules are not regulated. As a result, it becomes necessary to eliminate nitrogen-containing compounds. Adsorbent materials are designed to selectively remove both nitrogen and sulfur compounds without hydrogen at ambient temperature and atmospheric pressure. This approach will allow refineries to produce certified liquid fuels at a reasonable cost. Furthermore, this technology has the potential to set new standards in the adsorbents market in the coming years.
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High levels of impurities lessen the life of adsorbent which may hamper the market growth
When molecules of different impurities come in contact with an adsorbent, they get attached to it or get adsorbed. The adsorbent remains occupied until impurities, or sludge, are removed, which is called the regeneration process. However, the regeneration of adsorbents is not always very effective or is sometimes impossible. Moreover, adsorbents' capacity to adsorb is limited, so they may not be able to refine and purify contaminated substances indefinitely.
Adsorbents can be regenerated and reused in physical adsorption, but in chemical adsorption, regeneration of adsorbents requires a reverse reaction that is difficult to carry out. 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.
Global Adsorbents Market: By Type
Based on types, the global adsorbents market is categorized into molecular sieves, activated carbon, silica gel, activated alumina, and others. Molecular Sieves is likely to be the fastest-growing type segment during the forecast period. This segment's growth is attributable to the increased use of adsorbents in petroleum refining. Molecular sieves are frequently used in the petroleum sector, particularly for purifying gas streams. They are also used in science labs to separate compounds and drying materials. There are four main types of molecular sieves: 3A, 4A, 5A, and 13X. The pore size of molecular sieves depends on the chemical formula of the molecule.
Impact of COVID-19
The global adsorbents market has been negatively affected due to the COVID-19 pandemic. Several countries that manufacture adsorbents had to halt their production because of the wrath of the pandemic. Most adsorbents are produced in Asia-Pacific and North America, which were hit hard by the coronavirus. These challenges have disrupted the adsorbents market's supply chain, with many manufacturing units slowing down.
In contrast, oxygen concentrators, which were in high demand during the pandemic, use pressure swing adsorption technology and utilize zeolites to produce medical-grade oxygen. Thus, many industry players supplied adsorbents to help produce medical-grade oxygen during the pandemic, which helped them stay afloat amid the global health crisis. For instance, Honeywell in India partnered with DRDO and CSIR-IIP to supply molecular sieve adsorbents or zeolites to accelerate oxygen production in the country.
Asia-Pacific Leads the Global Adsorbents Market
In 2020, the Asia-Pacific held the highest share of the adsorbents market. The demand for adsorbents in the region is fueled by countries like China, Japan, and India. One of the major reasons driving the global adsorbents market in this region is rapid industrialization, particularly in emerging economies such as China and India. Adsorbents are commonly used to remove and control pollutants in industrial processes, such as the production of low sulfur fuels. They are also widely used in numerous applications, from insulating glass windows to mercury removal in natural gas/crude oil wellheads. Additionally, the use of adsorbents is an integral aspect of specialized product manufacturing. The growing demand for adsorbents in the Asia Pacific has made the region’s more competitive and active than in other regions. These factors are expected to drive the adsorbent market in Asia-Pacific during the forecast period.
Competitive Landscape
Due to the presence of numerous players involved in the market, the global adsorbents market is moderately fragmented. In order to stay competitive, the market players consistently develop new products and engage in expansion and acquisition. Additionally, some of the leading players are increasing their global footprint by purchasing overseas producers.
Some key players in the global Adsorbents market are Arkema, Honeywell International Inc., Axens, Basf SE, Cabot Corporation, Clariant AG, W. R. Grace & Co.-Conn, Calgon Carbon Corporation, Zeochem, Jalon, Porocel, Zeolyst International, Haycarb Plc, Fuji Silysia Chemical, Ltd., AGC Chemicals Americas, Interra Globaland other prominent players.
In 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 in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global adsorbents market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global adsorbents market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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