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Global Industrial Absorbents Market to reach USD 5.65 billion by the end of 2030

Global Industrial Absorbents Market Size Study & Forecast, 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), and Regional Analysis, 2023-2030

Product Code: CMCC-36222763
Publish Date: 20-02-2024
Page: 200

Global Industrial Absorbents Market is valued at approximately USD 4.13 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.0% during the forecast period 2023-2030. 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.

In addition, the increasing demand from the oil and gas industry is acting as a key factor that is prompting the market expansion. In the oil and gas industry, absorbents play a crucial role in repelling water and selectively absorbing oil and hydrocarbon products. The expansion of oil refineries boosts absorbent demand, driven by the global demand for oil and its by-products. According to Statista, there has been a gradual uptrend in global oil production in 2022, the world witnessed an approximate production of 4.4 billion metric tons of crude oil, which is an increase from the 4.2 billion metric tons recorded in 2021. Similarly, the same source stated that, in 2020, the total investment in oil and gas accounted for around USD 270 billion which is continuously growing and expected to reach USD 307 billion by 2022. Also, the increasing number of drilling operations in North America and the Middle East positively influences market demand, especially in the United States, a key market for drilling services. The Gulf of Mexico has become a significant hub for offshore drilling, with substantial investments in oil and gas production capacity expansion. Moreover, the growth opportunity for reusable industrial absorbent products, as well as the development of new absorbent materials presents various lucrative opportunities over the forecast years. However, the availability of cost-effective substitutes and the health hazards associated with the manufacturing of absorbents are hindering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Industrial Absorbents Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. 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.

Major market players included in this report are:
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

Recent Developments in the Market:
Ø In August 2023, New Pig Corporation, a prominent player in the industrial absorbents products sector, expanded its operations by acquiring a 165,000-square-foot warehouse facility in Altoona from the former US Foods. This strategic initiative aims to support the company’s growth initiatives and enhance its capabilities for industrial absorbents’ innovation and development.
Ø In May 2023, 3M allocated a substantial investment of USD 146 million to amplify its support for biotech manufacturing with a specific focus on advancing filtration technology for bioprocessing and pharmaceutical manufacturing. This initiative holds considerable implications for the Industrial Absorbent Market.
Ø In June 2022, Green Boom, a trailblazing brand specializing in environmentally friendly oil absorbent products, revealed the signing of Memorandums of Understanding (MoUs) with the Investment Promotion Agency Qatar (IPA Qatar) at the second annual Qatar Economic Forum. This significant announcement marked the establishment of Green Boom’s presence in the Middle East region, aimed at providing a biodegradable line of oil-only absorbents tailored for extensive spill response, as well as applications in the industrial and transportation sectors.

Global Industrial Absorbents Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Material Type, Product, End-use Industry, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

By Material Type:
Natural Organic
Natural Inorganic

By Product:
Booms & Socks
Sheets & Mats

By End-use Industry:
Oil & Gas
Food Processing

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Industrial Absorbents Market, by Region, 2020-2030 (USD Billion)
1.2.2. Industrial Absorbents Market, by Type, 2020-2030 (USD Billion)
1.2.3. Industrial Absorbents Market, by Material Type, 2020-2030 (USD Billion)
1.2.4. Industrial Absorbents Market, by Product, 2020-2030 (USD Billion)
1.2.5. Industrial Absorbents Market, by End-use Industry, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Industrial Absorbents Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Industrial Absorbents Market Dynamics
3.1. Industrial Absorbents Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand from the oil and gas industry Rising environmental awareness and the implementation of regulations addressing spills of oil and chemicals
3.1.2. Market Challenges Availability of cost-effective substitutes Health hazards associated with the manufacturing of the absorbents
3.1.3. Market Opportunities Growth opportunity for reusable industrial absorbent products Development of new absorbent materials
Chapter 4. Global Industrial Absorbents Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Industrial Absorbents Market, by Type
5.1. Market Snapshot
5.2. Global Industrial Absorbents Market by Type, Performance – Potential Analysis
5.3. Global Industrial Absorbents Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Industrial Absorbents Market, Sub Segment Analysis
5.4.1. Universal
5.4.2. Oil-Only
5.4.3. HAZMAT/Chemical
Chapter 6. Global Industrial Absorbents Market, by Material Type
6.1. Market Snapshot
6.2. Global Industrial Absorbents Market by Material Type, Performance – Potential Analysis
6.3. Global Industrial Absorbents Market Estimates & Forecasts by Material Type 2020-2030 (USD Billion)
6.4. Industrial Absorbents Market, Sub Segment Analysis
6.4.1. Natural Organic
6.4.2. Natural Inorganic
6.4.3. Synthetic
Chapter 7. Global Industrial Absorbents Market, by Product
7.1. Market Snapshot
7.2. Global Industrial Absorbents Market by Product, Performance – Potential Analysis
7.3. Global Industrial Absorbents Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
7.4. Industrial Absorbents Market, Sub Segment Analysis
7.4.1. Pads
7.4.2. Rolls
7.4.3. Pillows
7.4.4. Granules
7.4.5. Booms & Socks
7.4.6. Sheets & Mats
7.4.7. Others
Chapter 8. Industrial Absorbents Market, by End-use Industry
8.1. Market Snapshot
8.2. Global Industrial Absorbents Market by End-use Industry, Performance – Potential Analysis
8.3. Global Industrial Absorbents Market Estimates & Forecasts by End-use Industry 2020-2030 (USD Billion)
8.4. Industrial Absorbents Market, Sub Segment Analysis
8.4.1. Oil & Gas
8.4.2. Chemical
8.4.3. Food Processing
8.4.4. Healthcare
8.4.5. Others
Chapter 9. Global Industrial Absorbents Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Industrial Absorbents Market, Regional Market Snapshot
9.4. North America Industrial Absorbents Market
9.4.1. U.S. Industrial Absorbents Market Type breakdown estimates & forecasts, 2020-2030 Material Type breakdown estimates & forecasts, 2020-2030 Product breakdown estimates & forecasts, 2020-2030 End-use Industry breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Industrial Absorbents Market
9.5. Europe Industrial Absorbents Market Snapshot
9.5.1. U.K. Industrial Absorbents Market
9.5.2. Germany Industrial Absorbents Market
9.5.3. France Industrial Absorbents Market
9.5.4. Spain Industrial Absorbents Market
9.5.5. Italy Industrial Absorbents Market
9.5.6. Rest of Europe Industrial Absorbents Market
9.6. Asia-Pacific Industrial Absorbents Market Snapshot
9.6.1. China Industrial Absorbents Market
9.6.2. India Industrial Absorbents Market
9.6.3. Japan Industrial Absorbents Market
9.6.4. Australia Industrial Absorbents Market
9.6.5. South Korea Industrial Absorbents Market
9.6.6. Rest of Asia Pacific Industrial Absorbents Market
9.7. Latin America Industrial Absorbents Market Snapshot
9.7.1. Brazil Industrial Absorbents Market
9.7.2. Mexico Industrial Absorbents Market
9.8. Middle East & Africa Industrial Absorbents Market
9.8.1. Saudi Arabia Industrial Absorbents Market
9.8.2. South Africa Industrial Absorbents Market
9.8.3. Rest of Middle East & Africa Industrial Absorbents Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. 3M Company Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.2. Brady Corporation
10.3.3. Decorus Europe Ltd.
10.3.4. Johnson Matthey Plc
10.3.5. Kimberly-Clark Worldwide, Inc.
10.3.6. Meltblown Technologies Inc.
10.3.7. Monarch Green, Inc.
10.3.8. New Pig Corporation
10.3.9. Oil-Dri Corporation of America
10.3.10. Absorbent Products Ltd
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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