Adsorbents Market Size, Share, Analysis & Projection, Application & Region – Global Forecast to 2027
Adsorbents Market Size – USD 3.6 Billion in 2019, Market Growth – 6.3% CAGR, Market Trends – Strong demand for food industry.
NEW YORK CITY, NY, UNITED STATES, November 25, 2021 /EINPresswire.com/ – According to a new report from Reports and Data, the Adsorbents Market is expected to reach $ 5.9 billion by 2027. Adsorption is the process by which atoms, ions, or molecules in a solid, liquid, or dissolved gas adhere to a targeted surface. The market is driven by the growing demand for adsorbents in many petroleum refineries. It is the most efficient separation method which is widely used in petrochemical refineries. The increasing technological developments in manufacturing profitable adsorbents will generate high revenue in the global adsorbents market within the expected time frame. The increasing demand in the energy sector will be crucial for the growth of the adsorbents market. The expansion of the chemical process industry in many developing economies such as China, India and Brazil represents a golden opportunity for massive growth of the adsorbents market.
The constant fluctuation of oil and gas prices will have a negative impact on the market. Oil prices have fallen sharply due to political uncertainties in major oil producing countries like Russia, Venezuela and Saudi Arabia. This decline will recover if production is lowered during the price war between the major oil-producing countries, which will drive the adsorbent market forward.
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Main companies: BASF SE, Clariant Ltd., WR Grace & Company, Cabot Corporation, Zeochem AG, UOP LLC., Axens Group, Arkema SRL, Zeolyst International and Mitsubishi Chemical Corporation, among others
Mergers and acquisitions are an integral part of the adsorbents industry. Besides the companies operating in the market, other key market players have also entered the industry.
Reports and data predict promising developments for increased adoption of adsorbent technology. According to industry experts, the product-related applications of the market will usher in the market and soon be the engine of the industry. Additionally, new manufacturers are expected to enter the market, which should provide platform-centric adsorbent solutions for production applications. New companies entering the industry would focus on innovation and delivery through advanced technologies, reducing complexity and overall total cost of ownership. Experts also believe that increasing adoption of environmentally friendly products in emerging countries would be a key area of development for the industry.
Key takeaways from the report
The petrochemical industry is expected to grow at a CAGR of over 5%; the industry is already worth several hundred billion. The widespread use of the adsorbent in industry will drive the growth of the adsorbents market in the near future. More efficient adsorbents in the industry will also help the market to prosper. Petrochemicals also have a considerable capacity to use adsorbents. Adsorbents are used in the dehydration and purification of the ethane / NGL / propane feed.
With increasing demand for water accompanied by decreasing groundwater level, the wastewater treatment industry is expected to show remarkable growth during the period. The massive use of adsorbents in wastewater treatment plants will allow the adsorbent market to develop significantly.
The market holds a large part of its share in the oil and gas sector, but it also finds use in many rapidly changing consumer goods. The application of adsorbents as small desiccants is used to protect products such as pharmaceuticals, vitamins, food and many other consumer goods. The smell or taste can be removed from many personal care and plastic products with high silica zeolite molecular sieves, and these odors are adsorbed.
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For this report, reports and data have been segmented on global adsorbents market on the basis of product type, application, and region:
Outlook Product Type (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Chemistry / Petrochemistry
Air separation and drying
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Regional outlook (revenue, billion USD; 2017-2027)
Middle East & Africa
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