The global adsorbent market has witnessed significant growth in recent years, primarily driven by the increasing demand from water purification plants and the rising shale oil reserves, leading to higher demand from oil producers. The presence of well-established players in the market has also contributed to the market's growth and expansion. These factors have propelled the market forward and are expected to continue supporting its growth in the forecast period. As industries focus more on environmental sustainability and efficiency, the demand for adsorbents is likely to increase, creating lucrative opportunities for market players.
According to Data Bridge Market Research, the Global Adsorbent Market was valued at USD 4.13 billion in 2021 and is expected to reach USD 6.59 billion by 2029, registering a CAGR of 6.00% during the forecast period of 2022-2029.
“Growing applications of adsorbents in various industries upsurge the market growth”
The growing applications of adsorbents in various industries, such as water treatment, gas purification, and chemical processing, are driving the global adsorbent market. Adsorbents possess beneficial properties such as high surface area, selective adsorption, and the ability to remove impurities, making them versatile solutions for addressing environmental and process challenges. The increasing need for clean and safe water, stringent environmental regulations, and advancements in adsorbent technology further propel market growth. Additionally, the pharmaceutical and healthcare sectors' growing adoption of adsorbents for drug purification and separation processes contributes to the expanding demand and opportunities in the market.
What restraints the growth of the global adsorbent market?
“Raw materials depletion”
Raw materials depletion acts as a restraint on the global adsorbent market due to the finite availability of certain key materials used in adsorbent production. The increasing demand for adsorbents in various industries, such as petrochemicals, water treatment, and pharmaceuticals, may lead to the depletion of these critical resources. As the demand for adsorbents rises, manufacturers must explore sustainable alternatives or invest in recycling and reusing methods to mitigate the impact of raw material scarcity on the market and ensure long-term sustainability.
Segmentation: Global Adsorbent Market
The adsorbent market is segmented on the basis of type and application.
- On the basis of type, the adsorbent market is segmented into molecular sieves, activated carbon, silica gels, activated alumina, clay, and others.
- On the basis of application, the adsorbent market is segmented into petroleum refining, gas refining, Chemicals/petrochemicals, water treatment, air separation and drying, packaging, and others.
Regional Insights: North America dominates the Global Adsorbent Market
North America's dominance in the adsorbent market is attributed to the significant market share of the U.S. in the petrochemical industry and the rising exploration activities in crude oil and natural gas. The region's mature petrochemical sector demands efficient adsorbents for purification and separation processes, driving the market growth.
Asia-Pacific is expected to witness lucrative growth during the forecast period due to its expanding population and increasing demand in industries such as packaging, food, and pharmaceuticals. The growing middle-class population and rising disposable incomes in emerging economies fuel the demand for consumer goods and pharmaceutical products. Consequently, the need for adsorbents in these industries to ensure product quality and process efficiency drives market expansion in the region. Moreover, the growing environmental awareness and stricter regulations for pollution control further boost the use of adsorbents in various applications.
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Recent Developments in Global Adsorbent Market
- In September 2021, Shell and BASF collaborated to accelerate the transition to a zero-emissions world. They utilized BASF's Sorbead Adsorption Technology for pre- and post-combustion applications in Carbon Capture & Storage. Shell employed Sorbead Adsorption Technology to dehydrate CO2 gas captured by its carbon capture technologies, such as ADIP Ultra or CANSOLV. This collaboration aimed to enhance carbon capture efficiency and contribute to reducing greenhouse gas emissions.
The Prominent Key Players Operating in the Global Adsorbent Market Include:
- Arkema (France)
- BASF SE (Germany)
- Honeywell International Inc., (U.S.)
- W.R Grace and Company (U.S)
- Calgon Carbon Corporation (U.S)
- Axens (France)
- Halliburton (U.S.)
- Exterran Corporation (U.S.)
- Chevron Phillips Chemical Company LLC (U.S.)
- Clariant (Switzerland)
- Dow (U.S)
- Mitsubishi Chemical Corporation (Japan)
- Cabot Corporation (U.S.)
- Graver Technologies (U.S.)
- WestRock Company (U.S.)
- Ashland Inc (U.S.)
- Mapei S.p.A (Italy)
- Clariant AG (Switzerland)
Above are the key players covered in the report, to know about more and exhaustive list of global adsorbent market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Adsorbent Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
