Global Adsorbent Market: Snapshot
The global market for adsorbents has expanded at a steady pace in the past few years owing to a vast rise in its set of applications. The market continues to serve a rising number of areas, processes, and operations across a number of industries and is likely to witness a healthy growth pace over the period between 2017 and 2025. This report presents a thorough account of the past and present growth dynamics of the market and gives a detailed account of it’s potential future growth trajectory.
One of the key factors to have worked favorably for the market is the vast rise in the global consumption of petroleum products—an industry which is a key consumer of adsorbents during a number of activities. Thus the constant rise in production of natural gas and crude oil over the recent years is also expected to have a positive implication on the overall scope of development of the global adsorbents market. The market is also expected to benefit from the thriving global pharmaceutical industry as adsorbents find use across applications such as drying of air-synthesis products, product deodorization, and instrument drying.
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Geographically, the market in Asia Pacific is presently the dominant regional market for adsorbents, thanks mostly to the thriving packaging sector in the region. Owing to an increased demand for the safe delivery of a variety of packages containing products ranging across a number of industries, the region has witnessed the increased adoption of desiccants such as silica gel, which can protect products from moisture. Moreover, the steadily expanding electronics industry in the region, which is also an emerging market for desiccants, is also expected to drive the market for adsorbents.
Global Adsorbent Market: Overview
Adsorbents are insoluble materials with liquid covering the surface, including capillaries and pores. Adsorbents have the capability to contain certain amounts of liquid in small chambers just like a sponge. They play a crucial role in chemical absorption that occur when a particular substance gets trapped on the surface of the material.
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The market for adsorbents has been rising steadily on the back of its range of applications. They have a crucial role in various industrial processes such as water purification, synthetic resin, and activated charcoal. They are also used across industries for capturing and reusing waste heat to produce cold water used in air conditioning. Besides, adsorbents help to reduce corrosion in different machinery and equipment in industries.
Global Adsorbent Market: Key Trends
At the forefront of driving the market for adsorbent is the rising industrialization, especially in the nations of India and China. This is because the materials find widespread usage in removing and controlling trace contaminants from different industrial processes, namely manufacturing low sulfur fuels. Apart from that, sustained expansion in key end use industries such as chemicals and petrochemicals and water and water treatment is also fuelling demand in the market.
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Demand for adsorbents are also being underpinned by their application in insulating glass windows to stamp out of mercury in natural gas or crude oil wellhead.
There is one drawback, however, which is crimping growth in the market to an extent. It is the difficulty in procuring raw materials for a few kinds of adsorbents.This also makes those raw materials exorbitantly high priced.
Global Adsorbent Market: Market Potential
There are various types of adsorbents available in the market such as silica gel, activated alumina, carbons, zeolites, polymers and resins, molecular sieves, and clay. Among them, the molecular sieves, having precise and uniform sized tiny pores, allow small molecules to pass while blocking the large ones. They form a significant proportion of adsorbents because of their widespread application in petrochemicals to eliminate trace contaminants namely sulfur and water from the feed, air separation to produce oxygen having high degree of purity, and drying applications.
Global Adsorbent Market: Regional Outlook
From a geographical perspective, North America is a region to lookout for in the global market for adsorbent both vis-à-vis value and volume. The wonder material is mostly used for air separation and drying and water treatment in the region. The adsorbents produced in the region are mainly exported to other regions. The U.S. accounts for a dominant position in the North America market.
Global Adsorbent Market: Competitive Dynamics
Despite a handful of players operating in the global market for adsorbents, overall competition is stiff on account of them pouring money into product development and on a constant lookout for mergers and acquisitions, joint ventures, and collaborations. Some such savvy companies in the market that have attained a prominent position are Arkema S.A, BASF SE, W.R Grace and Company, Calgon Carbon Corporation, and Axens S.A.