With the emergence and long-term Impact of COVID-19, Global Industrial Absorbents Market to reach USD 5.67 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Industrial Absorbents Market points towards a potential rise to USD 5.67 Billion by 2030. Industrial absorbents are specialized materials crucial for managing spills in industrial environments. These substances, available in various forms such as pads, rolls, socks, and loose granules, are designed to efficiently absorb and contain liquids, including oils, chemicals, and hazardous materials. They cater to different spill scenarios with specific types such as oil-only, universal, and hazmat absorbents.
Industrial absorbents help enhance workplace safety, prevent slip hazards and ensuring compliance with environmental regulations. The surge in industrial activity, increasing environmental awareness and the implementation of regulations addressing spills of oil and chemicals, along with the rising incidences of oil and water spills on both land and water bodies are the most prominent factors that are propelling the market demand across the globe.
Geographically, the global Industrial Absorbents market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to rapid industrialization has resulted in a surge in manufacturing activities across various end-use industries. Furthermore, the stringent environmental regulations mandated by governments in countries such as China, India, Japan, and South Korea contribute to an increased demand for industrial absorbents. Adhering to these regulations necessitates the application of absorbents to efficiently handle and contain spills and pollutants, ensuring compliance with environmental standards.
Whereas, North America is expected to grow with a significant CAGR over the forecast years. The rising awareness regarding environmental protection, ongoing advancements in absorbent technologies, and high growth prospects for reusable industrial absorbent products are significantly propelling the market demand across the region.
The global Industrial Absorbents market is highly competitive owing to the presence of several key players such as 3M Company Brady Corporation Decorus Europe Ltd. Johnson Matthey Plc Kimberly-Clark Worldwide, Inc. Meltblown Technologies Inc. Monarch Green, Inc. New Pig Corporation Oil-Dri Corporation of America Absorbent Products Ltd and others.
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Key findings of the study suggest:
- Global Industrial Absorbents Market is anticipated to grow with a healthy growth rate of more than 4.0% over the forecast period 2022-2029.
- In the Type segment, Universal emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to the rapid industrialization has resulted in a surge in manufacturing activities across various end-use industries. Furthermore, the stringent environmental regulations mandated by governments in countries such as China, India, Japan, and South Korea contribute to an increased demand for industrial absorbents.
- North America is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- Universal
- Oil-Only
- HAZMAT/Chemical
By Material Type:
- Natural Organic
- Natural Inorganic
- Synthetic
By Product:
- Pads
- Rolls
- Pillows
- Granules
- Booms & Socks
- Sheets & Mats
- Others
By End-use Industry:
- Oil & Gas
- Chemical
- Food Processing
- Healthcare
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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