Industrial absorbents market to Register a Stout Growth by End 2027

1. Industrial Absorbents Market to Perceive Substantial Growth by the End 2025 Global Industrial Absorbents Market: Key Highlights ∑ According to a report published by the U.S. National Oceanic and Atmospheric Administration (NOAA) in 2018, around 137 oil spills occurred during 2018, which implied approximately 11 spills per month. The consumption of industrial absorbents is directly proportional to the number of oil spills. In terms of demand, Asia Pacific led the global industrial absorbents market in 2018, and the trend is anticipated to continue from 2019 and 2027. The oil & gas industry in Asia Pacific is projected to expand at a CAGR of nearly 4% during the forecast period. The natural segment has witnessed growth over the last few years, due to the low cost and eco- friendliness of natural industrial absorbents. Natural industrial absorbents are increasingly being used across developed as well as developing regions. The natural segment is anticipated to expand at a high CAGR during the forecast period. The demand for industrial absorbents in China is projected to rise at a CAGR of ~4% from 2019 and 2027. China is a leading manufacturer and consumer of industrial absorbents in Asia Pacific, due to the high availability of raw materials, such as natural as well as synthetic fabrics, at a low price. The country is estimated to witness increased demand for oil-only industrial absorbents in the near future. ∑ ∑ ∑ Global Industrial Absorbents Market: Key Drivers and Opportunities ∑ The demand for industrial absorbents has increased over the last few years. The trend is expected to continue during the forecast period also. This growth can be attributed to rise in the incidence of oil and fuel spills in waters and on land. Industrial absorbents are increasingly being used for oil spill removal, due to their characteristics such as low-cost production, low environmental impact, and low energy consumption. Absorbents are used to clean large- and small-scale oil spills to protect the environment, including aquatic biota. Major players operating in the global industrial absorbents market, such as 3M Company, Brady Corporation, and Oil-Dri Corporation of America, are expanding their presence in Asia Pacific in order to tap immense opportunities in the region. Growing environment-related regulations about oil and chemical spills at workplaces is one of the key factors boosting the global industrial absorbents market. The use of industrial absorbents aids in complying with various state and federal regulations, such as the OSHA regulation. Consciousness about and pressure to follow stringent environment-related regulations meant for oil spill control and reduction in pollution caused due to spills is increasing, thereby boosting the growth of the global industrial absorbents market. ∑ ∑ ∑ Asia Pacific to be Highly Lucrative Region of Global Industrial Absorbents Market ∑ In terms of value, North America held a major, i.e. more than 35% share of the global industrial absorbents market in 2018. Expanding oil & gas industry and rising demand for oil spill absorbent products are major factors anticipated to drive the industrial absorbents market in Asia Pacific during forecast period. Rising environment-related awareness and stringent government regulations regarding workplace safety and discharge of industrial effluents are the key factors propelling the demand for industrial absorbents across the globe. The industrial absorbents market in Asia Pacific is anticipated to expand at a high CAGR during the forecast period. The industrial absorbents market in Asia Pacific is driven by a rise in the demand from ∑ ∑ ∑

2. China, Japan, India, and South Korea, led by rising incidence of minor liquid spills in various end-use industries, and rapid industrialization in these countries. Global Industrial Absorbents Market – Key Developments ∑ In 2017, NPS Corporation acquired Evolution Sorbent Products LLC, a U.S.-based absorbent manufacturer, thereby becoming the largest manufacturer of absorbent products. In 2018, U.S. Silica Holdings, Inc. acquired EP Minerals, a global manufacturer of engineered materials and industrial absorbents, for US$ 750 Mn. This acquisition would help the former add extra EBITDA. In May 2019, Ansell Limited announced an investment of US$ 32 Mn toward the expansion of its manufacturing facility in Lat Krabang, Thailand. This expansion is aimed at increasing the facility’s manufacturing capacity by 30%, and help fulfill the rising global demand for chemical protection products in the next few years. ∑ ∑ To obtain all-inclusive information on forecast analysis of Global Industrial Absorbents Market , request a PDF brochure here. Global Industrial Absorbents Market – Competition Landscape ∑ The global industrial absorbents market was highly fragmented in 2018. Due to presence of a large number of manufacturers in the global market, and their growth initiatives, the global industrial absorbents market is estimated to be highly competitive during the forecast period. Major manufacturers of industrial absorbents include 3M Company, Brady Corporation, Oil-Dri Corporation of America, Ansell, EP Minerals, Johnson Matthey, Meltblown Technologies, Chemtex Inc., Absorbent Products Ltd., Monarch Green, Inc., and New Pig Corporation. ∑ About Us Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories. TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.” Contact Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States USA - Canada Toll Free: 866-552-3453

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