According to the new market research report by IndustryARC titled “Adsorbents Market: By Type (Activated Alumina, Activated Charcoal, Activated Clay, Others); By Application (Petroleum Refining, Natural Gas, Petrochemicals, Nuclear Waste Remediation, Refrigeration and A/C, Water Treatment, Others); By Geography - (2018-2023)”, the market is driven by the increasing production activities in the oil and gas industry that has led to the growth of Adsorbent Market across the globe.
Browse 49 Market Tables, 32 Figures spread through 127 slides and an in-depth TOC on “Global Adsorbents Market (2018 - 2023)”
The APAC region holds the largest market share and growth in the Adsorbent Market and is anticipated to reach $2.3 billion by 2023 at a CAGR of 7.7%. The escalating population in the Asia-Pacific region has triggered the need for different petrochemical and petroleum products that is one of the key drivers for the adsorbent market. Vietnam, Myanmar and Indonesia are the emerging markets for the adsorbent market as these nations have a developing petroleum industry and comprises of many such plants scheduled to come in the coming years.
Raw materials such as peat, wood, coir, lignite, coal, coconut, silicate, bauxite and others are procured and further processed by physical and chemical processes. Peabody Energy Corp (U.S.), BHP Billiton Ltd. (Australia), Arch Coal Inc (U.S.), Eden Energy Ltd. (U.K.), Atlantic Coal Plc. (U.K.) are some of the major companies which produce these raw materials.
The next major step in the value chain analysis is the distribution network. Distributors play a major role in building the network between manufacturers and end users. Some of the major distributors are Zeotec Adsorbents Pvt Ltd, Zeolyst International, Parchem Fine & Specialty Chemicals, Desiccants India, Qingdao Hiland Trading Co., Ltd. and others.
Excerpts on Market Growth Factors
- The activated alumina adsorbent market has become broader over the previous decade with better than ever products and solutions. The market has extended into each corner of different geographic regions, serving a huge client base.
- In RoW, the countries like Bahrain, Kuwait and other Middle Eastern countries have huge growth opportunities due to the presence of oil & gas companies, where significant refining activities are involved.
- Owing to their significant applications in diverse end user industries, adsorbents market is set to grow at a considerable pace in the coming years.
- Escalating growth in the end user industries, notably in oil & gas refining, propels the demand for adsorbents.
Key players of Adsorbent Market
BASF is the dominant player in the adsorbents market due to its wide product portfolio, loyal customer base and robust geographical reach of approximately 80 countries which is a competitive advantage to the company over the other players in the market. Other key players including Arkema SA, W.R. Grace and Company, Clariant AG, Axens S.A., among others.
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