3M Company (US) and Oil-Dri Corporation of America (US) are the Leading Players in the Industrial Absorbents Market
The Industrial
Absorbents Market
is estimated at USD 3.7 billion in 2018 and is projected to reach USD 4.7
billion by 2023, at a CAGR of 5.1%.
Browse 74 market data Tables and 53 Figures spread through 132 Pages and
in-depth TOC on "Industrial Absorbents Market”.
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“Synthetic segment is expected to
grow at the highest CAGR during the forecast period.”
The synthetic segment is expected to be the fastest-growing material type segment in the industrial absorbents market. The industrial absorbents market by material type has been categorized into natural organic, natural inorganic, and synthetic. Synthetic industrial absorbents are capable of absorbing liquid up to 70 times of their weight, which makes them a highly adopted material for industrial applications. Synthetic absorbents have properties such as non-flammability and excellent water repellency, which makes them suitable for applications in oil-only and HAZMAT spill control products.
“Oil & gas segment is expected to
hold the largest market share during the forecast period.”
Based on end-use industry, the oil
& gas segment is expected to account for the largest share in the
industrial absorbents market during the forecast period. Oil spills are caused
due to the leakage of liquid hydrocarbon, oil-based liquids, or liquid gases
into the environment, which is harmful for human and environmental health. Therefore,
to overcome the consequences of spills and to recover and dispose spilled
liquids, industrial absorbents products are used by the oil & gas
producers. In addition, oil & gas manufacturers involved in downstream,
midstream, and upstream operations need to employ spill control products to
mitigate the risks associated with the spills.
“North America is expected to hold
the largest market share of the industrial absorbents market during the
forecast period.”
North America is estimated to account
for the largest share of the market in 2018. The region is an established
market for industrial absorbents owing to the stringent regulations framed by
environmental bodies such as the EPA for spill control, particularly in oil
& gas and chemical end-use industries. In addition, the US and Canada are
among the largest producers and consumers of oil & gas products, wherein
industrial absorbent products are used to control and remediate spills caused
during oil & gas production and distribution activities. This factor has
fueled the growth of the industrial absorbents market in North America.
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3M Company (US), Brady Corporation (US),
Decorus Europe Ltd. (UK), Johnson Matthey Plc (UK), Kimberly-Clark Professional
(US), Meltblown Technologies Inc. (US), Monarch Green, Inc. (US), New Pig
Corporation (US), and Oil-Dri Corporation of America (US) are the leading
manufacturers of industrial absorbents, globally.
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