Adsorbent Market is anticipated to hit $6.2Adsorbent Market is anticipated to hit $6.26 billion by 2023 at a CAGR of 6.5%.

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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.

APAC held the largest market share and growth in the Adsorbent Market

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 comprise of many such plants scheduled to come in the coming years. The key end-user markets in the Asia Pacific region are oil refineries, natural gas refineries, wastewater treatment plants, refrigeration, and air conditioning systems and others. Japan, China, Australia, India, and South East nations are the leading manufacturing hubs.

Selected Value Chain Analysis was done in the Adsorbent Industry report

• The major’s steps involved in the value chain of adsorbents are raw material suppliers, adsorbent manufacturers, distributors, and end users. The value chain of adsorbents starts initially from procuring raw material from various suppliers and distributors. Raw materials such as peat, wood, coir, lignite, coal, coconut, silicate, bauxite and others are procured and further processed by physical and chemical processes. The physical process involves activation processes in the absence of oxygen, and the chemical process involves the treatment of the raw material with an acid or base. By using organic matter as raw materials such as sewage sludge and the remains of plants or animals and others, adsorbents can be manufactured. 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 manufacturers buy the necessary raw materials from various suppliers available in the market and modify it accordingly, based on the end-user requirements. The different raw materials used and their processing charges add value to the end product. The manufactured adsorbents provide high thermal stability, resistance and high surface capacity for adsorption.

• 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 Adsorbent Industry 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.

• The global adsorbents market is set to experience substantial growth owing to the strong demand for water treatment and oil & gas refinery applications worldwide.

• Escalating growth in the end-user industries, notably in oil & gas refining, propels the demand for adsorbents.

• Rapid infrastructure developments in countries like India and China is expanding rapidly because of burgeoning demands. This, in turn, is increasing the demand for raw materials such as paints & coatings industries, which eventually propels the growth of adsorbents.

• Adsorbents derive their applications from major applications like oil & gas refining, water treatment, air separation, VOC removal, and many others.

• Backed by increased demand for adsorbents in all the major segments such as oil & gas refinery, water treatment, VOC removal and more, adsorbents have registered a moderate growth across the world over the past few years.

• Since the manufacturers are intended to use non-conventional adsorbents which are eco-friendly and the government is encouraging more eco-friendly products, hence with growing demand, the price of the adsorbents has to come down.

• Growing demand from the end applications such as petroleum refining, wastewater treatment is driving the growth of the adsorbent market, and forcing manufacturers to expand their business to meet the growing demand. With the global economy stabilizing the market, it is estimated to grow with the help of expansion activities from major as well as other active players in the market.

• The U.S., Mexico, and Canada are witnessing huge growth for adsorbents due to its high industrial base for oil & gas refining purposes.

• The reason behind the enormous growth of the water treatment industry is the increase in water scarcity with growing population, rapid industrialization in developing countries, and fear of drinking groundwater due to toxic contaminants that were released from industries and adopting improved water services by the government.

To purchase or browse the table of contents of the report follows the link below:

https://industryarc.com/Report/11669/adsorbents-market-analysis.html?

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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