Dublin, Dec. 14, 2018 (GLOBE NEWSWIRE) -- The "Industrial Absorbents Market by Material Type (Natural Organic, Inorganic, Synthetic), Product (Pads, Rolls, Booms, Socks), Type (Universal, Oil-only, HAZMAT), End-use Industry (Oil & Gas, Chemical, Food Processing), Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The industrial absorbents market size is expected to grow from USD 3.7 billion in 2018 to USD 4.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.
The industrial absorbents market is driven by various factors, such as the growing environmental concerns and regulations regarding oil and chemical spills. However, the availability of cost-effective substitutes of industrial absorbents can hinder the growth of the market.
Pads segment is expected to hold the largest market share during the forecast period.
Pads are the largest product segment in the industrial absorbents market. The industrial absorbents market, by product, has been categorized into pads, rolls, pillows, granules, booms & socks, sheets & mats, and others. Pads are the most used spill control products for liquid spills such as oil, water-based liquids, and mild chemicals such as citric acid, hydrofluoric acid, and sodium hydroxide. Industrial absorbent pads are manufactured majorly using polypropylene materials and are widely used in oil & gas, chemical, and food processing end-use industries. In addition, cellulose-based industrial absorbent pads have a noteworthy application in the healthcare end-use industry.
The oil-only segment is expected to grow at the highest CAGR in the industrial absorbents market during the forecast period
The industrial absorbents market has been segmented on the basis of type into universal, oil-only, and HAZMAT/chemical. Oil-only absorbent products are designed to selectively absorb petroleum hydrocarbons and other oil-based liquids only and do not absorb water-based liquids. They are widely used for oil spills that may occur due to leakage of oil-based liquids, which have a huge impact on human health, ecosystem, and can result in huge economic losses. Growing demand for oil-based liquids spill control products from emerging regions such as the Asia Pacific region and Middle East & Africa is driving the growth of the oil-only segment of the industrial absorbents market during the forecast period.
Asia Pacific industrial absorbents market is expected to record the highest growth rate during the forecast period.
The Asia Pacific region is expected to have the highest growth rate during the forecast period due to the rising awareness and pressure to reinforce strict environmental regulations for spill response & control and pollution caused by end-use industries. The industrial absorbents market in the Asia Pacific region is driven by the demand from countries such as China, Japan, India, and South Korea owing to rapid industrialization and rising occurrences of small liquid spills across the end-use industries.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Stakeholders
1.6 Limitations
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in Industrial Absorbents Market
4.2 Industrial Absorbents Market, By Region
4.3 Industrial Absorbents Market, By Product and End-Use Industry
4.4 Industrial Absorbents Market, By Country
4.5 Industrial Absorbents Market, By End-Use Industry and Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Environmental Concerns and Regulations Regarding Oil and Chemical Spills on the Environment
5.2.2 Restraints
5.2.2.1 Saturation and Buoyancy of Industrial Absorbent Products
5.2.2.2 Availability of Cost-Effective Substitutes of Industrial Absorbents
5.2.3 Opportunities
5.2.3.1 Growth Opportunity for Reusable Industrial Absorbent Products
5.2.4 Challenges
5.2.4.1 Reducing Large Oil Spills
5.3 Value Chain Analysis
5.4 Porter's Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry
5.5 Macroeconomic Indicators
5.5.1 Oil & Gas
5.5.2 Chemicals & Petrochemicals
6 Industrial Absorbents Market, By Material Type
6.1 Introduction
6.2 Natural Organic
6.2.1 Cellulose
6.2.2 Corncob
6.3 Natural Inorganic
6.3.1 Clay
6.4 Synthetic
6.4.1 Polypropylene
6.4.2 Polyester
7 Industrial Absorbents Market, By Product
7.1 Introduction
7.2 Pads
7.3 Rolls
7.4 Pillows
7.5 Granules
7.6 Booms & Socks
7.7 Sheets & Mats
7.8 Others
8 Industrial Absorbents Market, By Type
8.1 Introduction
8.2 Universal
8.3 Oil-Only
8.4 Hazmat/Chemical
9 Industrial Absorbents Market, By End-Use Industry
9.1 Introduction
9.2 Oil & Gas
9.2.1 Upstream
9.2.2 Midstream
9.2.3 Downstream
9.3 Chemical
9.4 Food Processing
9.5 Healthcare
9.6 Others
10 Industrial Absorbents Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 France
10.3.3 UK
10.3.4 Spain
10.3.5 Italy
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 South Korea
10.4.5 Rest of Asia Pacific
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.2 UAE
10.5.3 Iran
10.5.4 South Africa
10.5.5 Rest of Middle East & Africa
10.6 South America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of South America
11 Competitive Landscape
11.1 Overview
11.2 Ranking of Key Market Players
11.3 Competitive Scenario
11.3.1 New Product Development
12 Company Profiles
12.1 3M Company
12.2 Brady Corporation
12.3 Johnson Matthey Plc
12.4 Oil-Dri Corporation of America
12.5 Ansell Limited
12.6 New Pig Corporation
12.7 Monarch Green, Inc.
12.8 DecorUS Europe Ltd.
12.9 Meltblown Technologies Inc.
12.10 Other Companies in the Industrial Absorbents Market
12.10.1 UES Promura
12.10.2 Kimberly-Clark Professional
12.10.3 Jaycot Industries
12.10.4 Chemtex
12.10.5 Tolsa Group
12.10.6 Asa Environmental Products Inc.
12.10.7 GEI Works
12.10.8 EP Minerals
12.10.9 Share Corporation
12.10.10 Absorbent Products Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/sk65rb/4_7_billion?w=12
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