Global industrial absorbents market was valued at an estimated USD 3.64 billion in 2018; this value is projected to grow with a CAGR of 5.15% in the forecast period of 2019-2026, resulting in a projected value of USD 5.43 billion by 2026.
Market Definition: Industrial Absorbents Market
Industrial absorbents are a type of material that is used for the extraction of chemicals or fluids spilled on various surfaces or floors. It is made up of soaking chemicals and materials specifically for these kinds of spills that help in the extraction process and are more effective than a normal absorbent. They are chemically inert in nature, making them safe for use on any kind of surface or chemicals.
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Major Market Drivers & Restraints are as follows:
- Increasing concerns and imposing regulations regarding the effects of spillage of chemicals and oils
- Presence of other cheaper and feasible alternatives available in the market is expected to act as a restraint to the market growth
Key Market Competitors: Industrial Absorbents Market
Few of the major competitors are 3M, ANSELL LTD., Johnson Matthey, Decorus Europe, Brady Worldwide Inc., Monarch Green Inc., New Pig Corporation, Meltblown Technologies Inc., Oil-Dri Corporation of America, Chemtex company, UES Promura, GEI Works, Absorbent Products Ltd, TOLSA, KCWW, ASA Environmental Products., SHARE CORPORATION, Jaycot and EP Minerals.
This Industrial Absorbents Market research report makes available state-of-the-art information about the entire market along with the holistic view of the market. This Industrial Absorbents Market research report displays a complete overview of the market, including myriad of aspects such as product definition, segmentation based on various parameters, and the existing vendor landscape. The report describes estimations about key players and brands in the market with respect to their actions such as developments, product launches, acquisitions, merges, joint ventures and competitive research.
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Market Segmentation: Industrial Absorbents Market
- By Material Type
- Natural Organic
- Natural Inorganic
- By Product
- Sheets & Mats
- Booms & Socks
- By Type
- HAZMAT/Chemical (Hazardous Materials)
- Oil Only
- By End-Use Industry
- Oil & Gas
- Food Processing
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- North America
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Global industrial absorbents market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of industrial absorbents market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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