NEWARK, Del, July 21, 2022 (GLOBE NEWSWIRE) -- The global adsorbents market is anticipated to create an absolute dollar opportunity with a total of US$ 6.7 Bn in 2028 marked by a sale of US$ 5.2 Bn in 2022. As per FMI analysis, the sales of adsorbents are projected to increase at a steady 4.4% CAGR over the forecast period from 2022 to 2028.
The increasing adoption of absorbents in diverse industries such as oil & gas, water treatment, food processing and air separation in pharmaceuticals is expected to boost the market. A conducive environment for growth is created due to the increasing demand for advanced techniques to derive quality liquid fuels cost-effectively.
Future Market Insights showcases a comparison and review analysis of the dynamics of the adsorbents market. The market has been subjected to certain industrial and innovation factors including growth in the chemical industry, water treatment sector growth and significant development in nanotechnology.
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Key Takeaways
- Increased acquisitions, collaborations & merger activities are some of the key factors that are likely to have a positive impact on the market during the forecast period. In addition, product innovations and an increased focus on sustainability are likely to drive market growth.
- During the first half of the forecast, rapid uptake in the market is visible due to the adoption of desulfurization technology, which is expected to bolster the demand.
- Absorbents are excessively used in a variety of sectors including food processing, pharmaceuticals, water treatment, oil & gas, and air separation. Their multifaced use in every industry is propelling sales in the market.
- A growing market for cost-effective, high-quality liquid fuels is stimulating the development of new products, which is fostering the expansion of the industry.
- Driven by the growing demand for sustainable petroleum refining products in the energy generation sectors, demand for absorbents is projected to skyrocket in the projected years.
- The U.S market is projected to dominate the market by accounting for a total sale of 24% of the market share.
Competitive Landscape
BASF SE, Sorbead India, Adsorbents Carbons, Universal Carbons, Global Absorbents Pvt. Ltd., Arkema Group, W. R. Grace & Co.-Conn., Axens S.A, Cabot Corporation, Clariant AG, Zeochem AG, Honeywell International Inc, Zeolyst International, Ashapura Group, Zeotec Adsorbents Private Limited, Bee Chems, Sunneta Carbons, Raj Carbon, Siddhartha Industries, AGC Group are some of the key companies profiled in the full version of the report.
Leading players operating in the global adsorbents market are investing in mergers, acquisitions, and collaborations to strengthen their global presence. In addition to this, players are aiming at production facility expansions and diversification of product portfolios to gain a competitive edge in the market.
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More Insights into the Adsorbents Market
According to the FMI analysis, the North American region was projected to account for 24% of the total market share in 2022. The sales in the U.S are anticipated to accelerate at a 4.9% CAGR in the coming years.
Sales in the U.S market continued to bolster owing to the increased adoption of adsorbents in the pharmaceutical and food & beverage sectors.
The widespread usage of adsorbents in leading industries such as food services, LPG manufacturing, packaged food, pharmaceutical, and biopharmaceutical sectors are anticipated to bode well for the growth of the market.
Increased demand for cleaner fuel and awareness about fuel efficiency has significantly reduced engine malfunction in the automotive sector and will continue propelling sales in the U.S. over the assessment period.
The East Asian region is expected to be dominated by China growing at a steady 5.2% CAGR over the forecast period. The Asia Pacific will emerge as the most lucrative region, commanding 26.1% of the total market share in 2022.
The industrial sector in China is rapidly adopting the technique of using materials such as activated carbon for effective removal of contaminants, especially in industrial wastewater resulting in boosting the overall sales over the forecast period.
India is expected to increase at a healthy 7.9% CAGR over the assessment period. Increasing government-backed investments in the expansion of the healthcare and pharmaceutical sectors in India are expected to boost the market in the forthcoming years.
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Adsorbents Market by Category
Product Type:
- Activated Alumina
- Activated Carbon
- Molecular Sieve
- Clay
- Silica Gel
- Polymeric Adsorbent
Applications:
- Petroleum & Petrochemical
- Chemicals
- Water Treatment
- Air Separation & Drying
- Pharmaceuticals
- Food Processing
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Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market View Point
3.1. Macro-Economic Factors
4. Global Adsorbents Market Analysis 2013–2021 and Forecast 2022–2028
4.1. Introduction
4.1.1. Market Volume Projections
4.1.2. Market Size
4.2. Value Chain
4.3. Manufacturing Process & Equipment Overview
4.3.1. Zeolite Molecular Sieve Adsorbents
4.3.2. Activated Alumina Adsorbents
4.3.3. Activated Carbon Adsorbent
4.3.4. Silica Gel Adsorbent
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About FMI- Chemicals and Materials
The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, speciality, and petrochemicals to advanced materials, composites, and nanotechnology, with special emphasis on ‘green alternatives, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
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