Adsorbents Market Overview to 2023
Adsorbents exhibit unique properties and are mainly utilized in various end use application such as air separation & drying, petroleum refining, chemicals/ petrochemicals, packaging, and others. The market is predicted to witness significant growth due to their utilization in various end use industries specifically in petrochemical and chemical industry. On the basis of the product type segment, molecular sieves is estimated to register strong growth followed by activated carbon on account of rising use in drying, packaging, and petrochemical coupled with expanding end use industries in developing countries across the globe. Furthermore, increasing mining and exploration activities in developing economies along with burgeoning need for high quality end product is anticipated to fuel the growth of the market during the review period.
Geographically, North America accounted for the leading market share for adsorbents in 2016, followed by Asia Pacific which is further trailed by Europe. The North American adsorbents market is estimated to witness significant growth during the assessment period owing to substantial growth of packaging and petrochemical industry in this region. In North America, the market is further segmented into Canada and the U.S., among these the U.S. is projected to hold major regional market share of adsorbents due to substantial presence of key manufacturers in this region. Asia Pacific is estimated to witness tremendous growth during the assessment period in adsorbents market during 2017 to 2023.
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Adsorbents Market– Top 10 Global key Players & Their Strategy
- Arkema S.A (France),
- BASF SE (Germany),
- R Grace and Company (U.S),
- Calgon Carbon Corporation (U.S),
- Axens S.A (France),
- The Dow Chemical Company (U.S),
- Mitsubishi Chemical Corporation (Japan)
- Cabot Corporation (U.S.),
- Clariant (Switzerland),
- R. Grace & Company (U.S.), among others.
The molecular sieves product segment is the leading type in the market on account of its extensive use in the petroleum industry for the removal of sulfur and water from crude and natural gas. Moreover, its use in the non-cryogenic oxygen production plants for the production of high purity oxygen is contributing to the growth of the segment. The petroleum refinery is the leading application used in the market and is anticipated to observe a higher CAGR due to extensive use of adsorbents in the purification of feedstock and in the refining of crude and natural gas.
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Adsorbents Market – Segmentation Analysis
The global adsorbents market is segmented into product type and application. On the basis of product type, the market is segregated into molecular sieves, activated carbon, silica gel, activated alumina, clay, and others. The market by end-user industry is further categorized into petroleum refining, chemicals/petrochemicals, gas refining, water treatment, air separation & drying, packaging, and others.
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