DUBLIN, March 8, 2019 /PRNewswire/ -- The "Industrial Absorbents Market by Material Type (Natural Organic, Inorganic, Synthetic), Product (Pads, Rolls, Booms, Socks), Type (Universal, Oil-only, HAZMAT), End-use Industry (Oil & Gas, Chemical, Food Processing), Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The industrial absorbents market size is expected to grow from USD 3.7 billion in 2018 to USD 4.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.
The industrial absorbents market is driven by various factors, such as the growing environmental concerns and regulations regarding oil and chemical spills. However, the availability of cost-effective substitutes of industrial absorbents can hinder the growth of the market.
Pads segment is expected to hold the largest market share during the forecast period.
Pads are the largest product segment in the industrial absorbents market. The industrial absorbents market, by product, has been categorized into pads, rolls, pillows, granules, booms & socks, sheets & mats, and others. Pads are the most used spill control products for liquid spills such as oil, water-based liquids, and mild chemicals such as citric acid, hydrofluoric acid, and sodium hydroxide. Industrial absorbent pads are manufactured majorly using polypropylene materials and are widely used in oil & gas, chemical, and food processing end-use industries. In addition, cellulose-based industrial absorbent pads have a noteworthy application in the healthcare end-use industry.
The oil-only segment is expected to grow at the highest CAGR in the industrial absorbents market during the forecast period
The industrial absorbents market has been segmented on the basis of type into universal, oil-only, and HAZMAT/chemical. Oil-only absorbent products are designed to selectively absorb petroleum hydrocarbons and other oil-based liquids only and do not absorb water-based liquids. They are widely used for oil spills that may occur due to leakage of oil-based liquids, which have a huge impact on human health, ecosystem, and can result in huge economic losses. Growing demand for oil-based liquids spill control products from emerging regions such as the Asia Pacific region and Middle East & Africa is driving the growth of the oil-only segment of the industrial absorbents market during the forecast period.
Asia Pacific industrial absorbents market is expected to record the highest growth rate during the forecast period.
The Asia Pacific region is expected to have the highest growth rate during the forecast period due to the rising awareness and pressure to reinforce strict environmental regulations for spill response & control and pollution caused by end-use industries. The industrial absorbents market in the Asia Pacific region is driven by the demand from countries such as China, Japan, India, and South Korea owing to rapid industrialization and rising occurrences of small liquid spills across the end-use industries.
The industrial absorbents market comprises 3M Company (US), Brady Corporation (US), Decorus Europe Ltd. (UK), Johnson Matthey Plc (UK), Kimberly-Clark Professional (US), Meltblown Technologies Inc. (US), Monarch Green, Inc. (US), New Pig Corporation (US), and Oil-Dri Corporation of America (US).
- Growing Environmental Concerns and Regulations Regarding Oil and Chemical Spills on the Environment
- Saturation and Buoyancy of Industrial Absorbent Products
- Availability of Cost-Effective Substitutes of Industrial Absorbents
- Growth Opportunity for Reusable Industrial Absorbent Products
- Reducing Large Oil Spills
- Absorbent Products Ltd.
- Ansell Limited
- Asa Environmental Products Inc.
- Brady Corporation
- DecorUS Europe Ltd.
- EP Minerals
- GEI Works
- Jaycot Industries
- Johnson Matthey Plc
- Kimberly-Clark Professional
- M Company
- Meltblown Technologies Inc.
- Monarch Green, Inc.
- New Pig Corporation
- Oil-Dri Corporation of America
- Share Corporation
- Tolsa Group
- UES Promura
For more information about this report visit https://www.researchandmarkets.com/research/q6f6tv/industrial?w=5
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