The Global Industrial Absorbents Market is projected to reach a value of over USD 5.4 billion by 2027 at a CAGR of around 4.3%.
Absorbents are material that is primarily used to extraction of chemicals or fluids spilled on different surfaces or floors. It is chemically inert in nature which makes them safe for use on any kind of surface or chemicals. Industrial absorbents are comprised 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.
Market Driver:
Oil pollution of the ocean comes from shipping activity and offshore oil production. Spilled oil is very toxic. It can be lethal to adult animals even in relatively low concentrations. The key sources of the oil spills are discharge of fuel during oil processing, on-floor accidental spillage, leakage through large-scale petroleum units, oil drilling accidents, and oil transportation. It may also cause physiological or behavioral disruptions of species. An oil spill directly damages not only animals, plants and corals, fisheries, but also affects human activity in the area of fisheries through damaging of fishing boats, fishing gear, floating fishing equipment. Furthermore, oil and chemical spills on the workplace can cause major accident in the industry. Thus, to control oil pollution of the ocean various government regulatory has imposed laws, which is likely to boost the global industrial absorbent market during the forecast period.
Market Restraint:
There are numbers of clean-up solutions available in the industrial and commercial market such as crushed clay, sorbent pads, alumina silicate, diatomaceous earth, plant by-products, and montmorillonite. All these substitutes are used primarily for oil and grease cleanup. Moreover, some of these substitutes are relatively less in cost compared to absorbent which is likely to hamper the global industrial absorbents market.
Industrial Absorbents Market: Report Scope
The report on the Industrial Absorbents market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Billion) |
Segments Included |
Material Type, Product, Type, End-users, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Industrial Absorbents Market, by Material Type
Industrial Absorbents Market, by Product
Industrial Absorbents Market, by Type
Industrial Absorbents Market, by End User
Industrial Absorbents Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE INDUSTRIAL ABSORBENTS MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY