Dublin, Dec. 30, 2021 (GLOBE NEWSWIRE) -- The "Global Adsorbents Market by Type (Molecular Sieves, Activated Carbon, Silica Gel, Activated Alumina), Application (Petroleum refining, Chemicals/Petrochemicals, Gas refining, Water treatment, Air Separation & Drying, Packaging), & Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Adsorbents Market is estimated to be USD 4.1 billion in 2021 and is projected to reach USD 5.6 billion by 2026, at a CAGR of 5.9% from 2021 to 2026.
The driving factors for the adsorbents market is the industry growth is backed by the large-scale developments in oil & gas processing and socio-economic advancements such as the increased use of adsorbents in maintaining purity standards in various applications and because of environmental concerns.
Molecular Sieves is expected to be the fastest-growing type in the Adsorbents market during the forecast period.
Molecular Sieves is the fastest-growing type segment in the Adsorbents market. . The growth in this segment is attributed to the growing use of adsorbents in petroleum refining. Molecular sieves are often utilized in the petroleum industry, especially for the purification of gas streams and in the chemistry laboratory for separating compounds and drying materials. There are four main types of molecular sieves: 3A, 4A, 5A, and 13X. The type is dependent on the molecule's chemical formula, and it determines the pore size of the molecular sieve. It accounted for a share of about 38.56% of the Adsorbents market, in terms of value, in 2020.
Petroleum Refining is expected to be the fastest-growing application in the Adsorbents market during the forecast period.
Petroleum Refining is the fastest-growing application segment in the Adsorbents market Petroleum refining adsorbents are widely used in the dehydration of alkylation feed and in the purification of feedstock to protect isomerization catalysts in refining. These adsorbents remove a wide variety of contaminants effectively and economically from numerous hydrocarbon streams in petroleum refineries through non-regenerative and regenerative adsorbents. It accounted for a share of about 22.39% of the Adsorbents market, in terms of value, in 2020.
APAC is the largest market for Adsorbents
APAC accounted for the largest share of the Adsorbents market in 2020. The adsorbents market in APAC is driven by the demand from countries such as China, Japan, and India. Rapid industrialization, mainly in emerging economies such as China and India, has been one of the major factors driving the global adsorbents market. Adsorbents are widely used for removing and controlling contaminants from various industrial processes, such as the production of low sulfur fuels. They are extensively used for a wide range of applications, ranging from insulating glass windows to the removal of mercury in large-scale natural gas/crude oil wellheads. Adsorbents are an integral part of any process used in the manufacturing of modern-day specialized products. The market in APAC, owing to high demand, is much more dynamic and competitive than that in the western region. These factors are projected to drive the demand for adsorbents in APAC.
Research Coverage
The report covers the Adsorbents market based on type, application, and region. This study aims at estimating the size and future growth potential of the market across various segmentation types. It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Market Dynamics
- Drivers
- Growing Environmental Concerns and Regulations
- Adsorbents are Cost-Effective
- Increase in Demand for Oxygen Concentrators
- Restraints
- Moderate Growth for End-use Industries
- Reduced Service Life due to High Level of Impurities
- Opportunities
- Denitrogenation/Desulfurization Technology
- Challenges
- Depletion of Raw Materials
Companies Profiled
- AGC Chemicals Americas
- Arkema
- Axens
- BASF SE
- Cabot Corporation
- Calgon Carbon Corporation
- Cilicant
- Clariant AG
- Fuji Silysia Chemical, Ltd.
- Graver Technologies, LLC
- Haycarb plc
- Hengye Inc.
- Honeywell International Inc.
- Interra Global
- Jalon
- Kureha Corporation
- Molsivcn Adsorbent Co. Ltd.
- Porocel
- Silicycle Inc.
- Sorbead India
- W. R. Grace & Co.-Conn
- Zeochem
- Zeolyst International
- Zettachem International
For more information about this report visit https://www.researchandmarkets.com/r/dvqpfb
