Adsorbents Market Scope
The Adsorbents Market Size was valued at USD 3.9 Billion in 2022. The Adsorbents market industry is projected to grow from USD 3.89 Billion in 2023 to USD 8.2 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.4% during the forecast period (2023–2030).
The global Adsorbents Market is facilitated by the demand of the material in oil gas and water treatment applications. They are used in preserving chemical stability in various industries. The need for high-quality water for the production of various items is dependent on water quality and water quantity. The use of adsorbents for the removal of contaminants caused by heavy metals and environmental pollution can favor the market heavily. The development of new technologies for the removal of anions and other pollutants from wastewater can fuel the global adsorbents market.
Mitsubishi Chemical Corporation, Clariant, Arkema S.A, Calgon Carbon Corporation, Axens S.A, W.R. Grace and Company, BASF SE, The Dow Chemical Company, and Cabot Corporation are key players of the global adsorbents market.
The global adsorbents market is segmented by product type and application.
On the basis of the product type, the market is segmented into activated alumina, molecular sieves, activated carbon, silica gel, clay, and others. The molecular sieves segment is the leading segment of the market and is anticipated to continue its dominance over the forecast period. Molecular sieve adsorbents have pores of precise sizes that can block molecules and making them an ideal part in petrochemical and drying and air separation applications. Sulfur and water from the product streams are removed at ease with the help of these adsorbents. On the other hand, activated carbon adsorbents are used in wastewater treatment plants due to its porosity and low cost.
By end-user industry, it is segmented into air separation drying, petroleum refining, chemicals/petrochemicals, gas refining, packaging, water treatment, and others. The petroleum refining industry can register the highest growth and is expected to dominate the segment. Adsorbents are used in the removal of contaminants owing to its effectiveness and low cost. The water treatment industry can also create heavy demand for the global adsorbents market due to its need for removing pollutants in industries using large volumes of water. For instance, tanneries can use these substrates to remove toxic effluents from the leftover water.
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The global adsorbents market covers the regions of Asia Pacific (APAC), North America, the Middle East Africa (MEA), Europe, and Latin America.
Among these, North America held the majority of the market and is expected to be dominant over the forecast period. On the other hand, APAC is expected to be the fastest growing market over the forecast years. The dominant petrochemical industry in North America is the primary driver of the market. Extraction of crude oil and natural gas requires the separation of water from gas in which molecular sieves are extensively used. Moreover, the recent rise in shale gas exploration is likely to present new opportunities for growth.
APAC is expected to display a stellar CAGR and is anticipated to be the fastest growing market for adsorbents Emerging Growth Opportunities. The large population as well as the demand by pharmaceutical, food, and packaging sectors can encourage global market growth. Moreover, the import of crude oil by India and China can act as a good catalyst for the massive need for adsorbents in the region.
Europe is mainly driven by mature healthcare, pharmaceuticals, and petrochemical industries. Moreover, the demand for processed foods can fuel the global adsorbents market. Lastly, the MEA region is expected to show a steady growth rate during the forecast period.
Ingevity and Ozinga have decided to partner to encourage the use of natural gas as a fuel. The adsorbed natural gas (ANG) system used in bi-fuel trucks uses activated carbon developed by Ingevity and can be used in adsorbing and releasing pollutants as per the vehicle’s engine.
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