Global Adsorbent Market, By Type (Molecular Sieves, Activated Carbon, Silica Gels, Activated Alumina, Clay, Others), Application (Petroleum Refining, Gas Refining, Chemicals/Petrochemicals, Water Treatment, Air Separation and Drying, Packaging, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the last few years, there has been growing demand of adsorbent from water purification plants. Furthermore, the increasing number of shale oil reserves has resulted in increased demand for adsorbent among oil producers, as has the presence of prominent players operating globally. These determinants have immensely accelerated the pace of market growth and expansion, which will continue to aid market growth over the forecast period.
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. The "molecular sieves" accounts for the largest type segment in the adsorbent market owing to its increased utilization in petroleum refining.
Market Definition
Adsorbents are substances that can extract specific elements from solids, liquids, and gases while retaining their physical properties. They form layers through the adhesion process and are primarily used in the form of rods, monoliths, and molding, among other things. Adsorbents have a variety of properties, including high abrasion resistance, high surface capacity, high thermal stability, and others, making them suitable for use in a variety of petrochemical industries, air separation and drying industries, water treatment industries, and others.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2019 - 2014)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
By Type (Molecular Sieves, Activated Carbon, Silica Gels, Activated Alumina, Clay, Others), Application (Petroleum Refining, Gas Refining, Chemicals/Petrochemicals, Water Treatment, Air Separation and Drying, Packaging, Others)
|
|
Countries Covered
|
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
|
|
Market Players Covered
|
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) and Clariant AG (Switzerland)
|
|
Market Opportunities
|
|
Adsorbent Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Growing Applications due to Beneficial Properties
The increasing applications from various industry verticals is expected to carve a way for the growth of the market during the forecast period. Moreover, the adsorbents possess various advantageous properties such as the high abrasion resistance, high surface capacity, high thermal stability, and others, making them suitable for use in a variety of petrochemical industries, air separation and drying industries, water treatment industries, and others which are also projected to bolster the growth of the market. Another factor expected to support the growth of the global adsorbent market is the increasing demand for polymeric adsorbents from the pharmaceutical industry for the removal of antibiotics, peptides, proteins, and other compounds.
The surging demand for adsorbent from developed and developing countries for water treatment will further boost the growth rate of adsorbent market. Additionally, the rising demand for activated carbon will also drive market value growth.
Opportunities
- Adoption, Investments and Regulations
Furthermore, the adoption of efficient separation method in petrochemical refineries coupled with the surging investment for development of cost effective products extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the growing number of environmental regulations as well as concern will further expand the future growth of the adsorbent market.
Restraints/Challenges
- High Level of Impurities
Adsorbents are used in refining and purification processes to adsorb contaminants and impurities such as (carbon dioxide or hydrogen sulphide), mercaptans, production chemicals, and hydrate inhibitors. At this point, the impurities present react with the adsorbents, resulting in adsorbent regeneration. These contaminants either regenerate or remove the adsorbent. The service life of adsorbents is determined by the material's regeneration capacity, which can be a constraint for the overall adsorbents market.
- Raw Materials Depletion
Coal, bauxite, silicate, zeolite, and clay are the basic raw materials used in the production of adsorbents. All of these mineral resources are naturally available, so excessive extraction and mining of these raw materials is not appropriate for preserving them. Because mineral resources are limited, exponential growth and expanding consumption are uncontrollable. These depleting mineral resources may pose a significant challenge to the adsorbents market.
This adsorbent market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the adsorbent market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Adsorbent Market
The emergence of coronavirus had a negative impact on the adsorbent market. Because of the pandemic's wrath, several countries that manufacture adsorbents were forced to halt production. The majority of adsorbents are manufactured in Asia-Pacific and North America, which were particularly hard hit by the coronavirus. These challenges have disrupted the supply chain of the adsorbents market, causing many manufacturing units to slow down.
In contrast, oxygen concentrators, which were in high demand during the pandemic, produce medical-grade oxygen using pressure swing adsorption technology and zeolites. As a result, many industry players supplied adsorbents to aid in the production of medical-grade oxygen during the pandemic, allowing them to remain afloat in the midst of the global health crisis. In India, for example, Honeywell collaborated with DRDO and CSIR-IIP to supply molecular sieve adsorbents or zeolites to help the country's oxygen production.
Recent Development
- In September 2021, Shell and BASF announced plans to collaborate to accelerate the transition to a zero-emissions world. The two companies investigated, de-risked, and deployed BASF's Sorbead Adsorption Technology for pre- and post-combustion applications in Carbon Capture & Storage as part of their collaboration. Shell employs Sorbead Adsorption Technology to dehydrate CO2 gas captured by one of Shell's carbon capture technologies, such as ADIP Ultra or CANSOLV.
Global Adsorbent Market Scope
The adsorbent market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Molecular Sieves
- Activated Carbon
- Silica Gels
- Activated Alumina
- Clay
- Others
Application
- Petroleum Refining
- Gas Refining
- Chemicals/Petrochemicals
- Water Treatment
- Air Separation and Drying
- Packaging
- Others
Adsorbent Market Regional Analysis/Insights
The adsorbent market is analyzed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the adsorbent market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the adsorbent market because of the large market share of U.S. in the availability of petrochemicals along with rising exploration activities of crude oil and natural gas within the region.
Asia-Pacific on the other hand, is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the increasing number of population along with growing packaging, food as well as pharmaceutical industry within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Adsorbent Market Share Analysis
The adsorbent market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to adsorbent market.
Some of the major players operating in the adsorbent market are
- 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)
SKU-