NEW YORK, March 23, 2016 /PRNewswire/ -- North America is the leader in the global adsorbents market and accounts for the largest market size. This trend is projected to continue till 2020, due to the presence of many major players in the region. The U.S is the fastest-growing economy and a key market in this region that drives half of the demand for adsorbents globally. It is followed by Canada and Mexico, where the market size in terms of volume is registering a moderate growth.
The U.S. includes several large-scale production plants built as joint ventures with foreign companies such as Calgon Carbon Corporation (U.S.), W.R Grace and company (U.S.), and UOP LLC (U.S.) for increased adsorbents production facilities. This country is also experiencing an increase in investments for applications due to increased production capabilities across the country. This is driving the demand for adsorbents and this trend is projected to continue till 2020. This demand is mainly growing due to the rising industrialization and governmental pressure for use of adsorbents for water treatment application. Also, the environmental concerns are leading to the increased use of adsorbents in petroleum refining and chemical manufacturing industries for controlling the harmful emissions and contaminants.
In North America, the rise in manufacturing sector is also fueling the demand for silica gels and activated alumina, resulting in increased demand for adsorbents. The petroleum refining and air separation & drying are the leading application areas for adsorbents in North America and are driving the demand for adsorbents in the region. Adsorbents are widely used in these applications due to their separation and purification properties. For example, activated alumina is widely used in air separation & drying applications, as these adsorbents are appropriate for use in dehydrating gases in both thermally regenerative and pressure swing modes.
Molecular sieves are projected to be the fastest-growing type of adsorbents globally. Molecular sieves are mainly used in the chemicals/petrochemicals and air separation & drying. These adsorbents provide properties such as, high porosity and high adsorption capacity. Moreover, increasing demand from petrochemical industry is due to the stringent purification guidelines by government and environmental agencies.
Expansions, mergers & acquisitions, joint ventures & collaborations, and new product launches are some of the key strategies undertaken by major companies such as Arkema SA (France), Axens (France), BASF SE (Germany), Cabot Carbon Corporation (U.S.), Calgon Carbon Corporation (U.S.), Graver Technologies (U.S.), and UOP LLC (U.S.) in the adsorbents market. These strategies have helped to enhance production and increase the demand for adsorbents.
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