NEW YORK, Dec. 3, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, "the global Industrial Absorbents Market Report 2031 by Segments, geography, Dynamics, Recent Developments, and Strategic Insight [https://www.theinsightpartners.com/reports/industrial-absorbent-market/?utm_source=PRNewsWire&utm_medium=10370] is observing significant growth owing to the increased use in different end-use industries and growing environmental issues concerning chemicals and oil spills.
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The industrial absorbents market analysis focuses on an array of industrial absorbents product types and end-use industries that are expected to determine the market strength in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.
The report from The Insight Partners provides several stakeholders--including important information on industrial absorbents providers, industrial absorbents buyers, and industrial absorbents manufacturers--with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
Global Industrial Absorbent Market - list of companies -
-- 3M Co
-- Ansell Ltd
-- Brady Corp
-- Decorus Europe Ltd
-- Meltblown Technologies Inc
-- Oil-Dri Corp of America
-- Schoeller Industries
-- Fentex Ltd
-- Complete Environmental Products Inc
-- TOLSA SA
-- SpillTech Environmental Inc
-- New Pig Corp
-- Empteezy Ltd
-- Green Stuff Absorbentes
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Overview of Report Findings
1. Market Growth: The industrial absorbents market size is expected to reach
US$ 5.50 billion by 2031 from US$ 3.94 billion in 2023 at a CAGR of 4.3%.
Industrial absorbents are among the crucial solutions within the broader
environmental management and safety industry, primarily focused on
products designed to control and clean up spills of oils, chemicals, and
other hazardous materials. These absorbents are vital for maintaining
workplace safety and preventing environmental contamination, particularly
in industries such as oil and gas, chemical manufacturing,
pharmaceuticals, and food processing. Companies are mandated to have
effective spill management to have effective spill management and control
measures in place, fueling the demand for various types of absorbents,
including pads, rolls, booms, and loose granular products.
2. Growing Environmental Issues due to Chemicals and Oil Spills: Oil spills
are long-lasting environmental disasters with a wide range of impacts.
The effects of oil spills can vary, ranging from minimal to serious ones,
depending on the magnitude and location of the spillage. Oil can kill
surface-dwelling animals and birds by poisoning or suffocating them or by
affecting their buoyancy and natural waterproofing abilities.
Contaminated food supplies may lead to the malnourishment of animals,
which may be followed by poisoning over time. The damage can be
significant if oil spills happen in an area with wildlife. Oil obstructs
the insulating ability of fur on mammals and impacts the water-repelling
qualities of a bird's feathers. Without insulation or water-repelling
qualities, mammals and birds can die from hypothermia. Further, oil and
oil products (petroleum products) have many volatile compounds that are
emitted as gases. These gases may or may not produce strong chemical
odors but can contaminate the surrounding air, which could lead to health
risks when exposed to these compounds for a prolonged period. Moreover,
pollutants can travel over long distances once released into the air. The
original contamination levels at the source and specific weather
conditions may dictate the final spread of oil-contaminated air vapors.
Oil spills, leading to oil slicks and sheens, also harm the aesthetic
appeal and recreational value of coastal waters, shorelines, beaches,
wetlands, etc. Serious consequences include the discontinuation of
recreational activities in these areas, at least temporarily, until the
spill is removed and the cleanup process is completed.
3. Expansion of Oil & Gas and Chemicals Industries in Progressing Economies:
According to the International Energy Agency (IEA), Asia Pacific
accounted for 8% of the world's crude oil production, with a total of
14,872.67 gigajoules of crude oil produced in 2021. China and India have
been leading contributors to the total oil production in the region.
According to the US Energy Information Administration, China is the
world's fifth-largest oil-producing country. Although Asia has seen a
slow but steady decline in its share in global oil production, it is
expected to account for ~77% of the rise in world oil demand through
2025. Moreover, its reliance on oil imports would increase to 81% by
2025. China is also a hub for chemical processing, and it accounts for a
significant portion of the chemicals produced globally. The country
contributes to more than 35% of global chemical sales. Many major
companies have their chemical plants in China. With the growing demand
for various chemicals globally, this industry is scaling up its
production operations, which would bolster the demand for industrial
absorbents during the forecast period.
4. Geographical Insights: In 2023, Asia Pacific led the market with a
substantial revenue share, followed by Europe and North America,
respectively. Asia Pacific is expected to register the highest CAGR
during the forecast period.
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Report Scope
Feature of the Report Details Market Size in 2023 US$ 3.94 billion in 2023 Projected Market Size in 2031 US$ 5.50 billion by 2031 CAGR Growth Rate 4.3 % Base Year 2023 Forecast Period 2023-2031 Key Segment By Type, Application, Connectivity and Region Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America Buying Options Request tailored purchasing options to fulfil your requirements for research.
Market Segmentation
-- Based on product type, the industrial absorbents market is segmented
into pads, rolls, pillows, booms, socks, and others. The booms segment
held the largest share of the market in 2023.
-- Based on type, the industrial absorbents market is segmented into
universal, oil-only, and hazmat/chemical. The hazmat/chemical segment
held the largest share of the market in 2023.
-- In terms of end-use industry, the industrial absorbents market is
segmented into oil and gas, chemical, food processing, healthcare,
automotive, and others. The oil and gas segment held the largest market
share in 2023.
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Competitive Strategy and Development
-- Trending Topics: Eco-Friendly and Biodegradable Absorbents,
Nanotechnology and Smart Absorbents, Regulations and Compliance
Standards, Technological Advancements in Absorbent Manufacturing, Spill
Containment and Cleanup, and Chemical and Hazardous Material Handling
Global Headlines on Industrial Absorbents Market -
-- Finite Fiber launched PurAbsorb, an industrial super absorbent for
efficient spill cleanup
-- Progressive Planet Solutions Inc acquired Absorbent Products Ltd a
dominant manufacturer of mineral-based products derived from
diatomaceous earth, zeolite, and bentonite
-- Technical Absorbents Ltd developed a new grade of superabsorbent fiber
(SAF) for use within a new range of SAF nonwoven fabrics that are
resistant to shrinkage
-- Domtar expanded its Engineered Absorbent Materials (EAM) manufacturing
plant in Jesup, GA, to support the firm's airlaid nonwoven business
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Conclusion
The increasing auto-manufacturing sector provides strong growth potential to the industrial absorbents market as companies invest in effective absorbents that manage oil and fuel spills. Industrial absorbents are widely used in the manufacturing sector across oil and gas, pharmaceutical, healthcare, food and beverage processing, chemical, and automobile manufacturing to clean up fluid spills and prevent industrial hazards. Thus, the increasing presence of a well-established manufacturing sector provides significant growth potential for the industrial absorbents market.
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