The global demand for adsorbents in the market is majorly getting driven by several recent innovations in petroleum and natural gas processing methods. Moreover, its rising usage for maintaining the cleanliness requirements of water in different industrial or commercial applications has resulted in a huge drinking water adsorbent market in recent years. The sales of adsorbents are likely to be US$ 5.5 Billion in 2023.
As per the adsorbent market analysis report by FMI, the net worth of the global market is projected to reach up to US$ 89. Bn by 2033 by registering a 5% CAGR over these forecast years.
Because of the rising requirement for distillate fuels and dwindling supplies of higher grade, easier-to-process crude oil, refineries are being forced to process more and more fossil fuel petroleum every year. This trend is expected to further boost and create huge opportunities for the BTX and hydrocarbon-separating adsorbents market in particular. Anyways, the rising prices of petroleum products have increased the demand for petroleum and its refining processes, indirectly boosting the sales of adsorbents in the global market.
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Key Takeaways from the Adsorbents Market
- The United States is the dominant market, accounting for more than 25% of the money made by sales of adsorbents in the worldwide market. The net value of the US adsorbent market is projected to cross US$ 2 Bn by the conclusion of this projected timeline.
- China is a very close competitor of the United States in production as well as sales of adsorbent in the domestic and global markets. According to this analysis report, it accounts for approximately 20% of the global adsorbent market and is expected to reach US$ 1.9 Bn by 2033.
- The adsorbent market in the United Kingdom and Germany is expected to be worth up to US$ 513.1 Bn and US$ 548.2 Bn by 2033 respectively. These two countries are also the leading regions in the polymeric adsorbent market in Europe.
- Out of the various types of adsorbents available in the market today, molecular sieve adsorbents are found to be the most promising segment for the projected years. This category of adsorbents is expected to register a CAGR of 6.1% throughout the upcoming 10 years.
- According to the global adsorbent industry survey figures, the product is mostly in demand in Petroleum and petrochemical sectors.
Competitive Landscape for the Adsorbents Market Players
Major suppliers of different types of adsorbents that contribute significantly to the global market are BASF SE, Sorbead India, Adsorbents Carbons, Universal Carbons, Global Absorbents Pvt. Ltd., Arkema Group, W. R. Grace & Co.-Conn., Axens S.A, Cabot Corporation, Clariant AG, Zeochem AG, Honeywell International Inc, Zeolyst International, Ashapura Group, Zeotec Adsorbents Private Limited, Bee Chems, Sunneta Carbons, Raj Carbon, Siddhartha Industries, and AGC Group among others.
Product innovation and increasing the performance of adsorbents that can be used for several other pollutants are the major strategy adopted by most of the global adsorbents market players. For example, Durasorb HG which is a pollutant mercury-attracting adsorbent was released in June 2019. It is also capable of adsorbing mixed metal oxide to some degree in moist circumstances.
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Adsorbents Market by Category
Product Type:
- Activated Alumina
- Activated Carbon
- Molecular Sieve
- Clay
- Silica Gel
- Polymeric Adsorbent
Applications:
- Petroleum & Petrochemical
- Chemicals
- Water Treatment
- Air Separation & Drying
- Pharmaceuticals
- Food Processing
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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