NEW YORK, March 19, 2019 /PRNewswire/ -- Global
Industrial Absorbents Market By Product (Rolls, Pads, Booms &
Socks), By Material Type (Synthetic, Organic & Inorganic), By
Type (Oil-only, Universal & HAZMAT), By End-Use Industry, By
Region, Competition, Forecast & Opportunities, 2024
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Global Industrial Absorbents Market Overview
Industrial absorbents market, globally, is projected to grow from
$ 3.8 billion in 2018 to $ 5.1 billion by 2024, exhibiting a CAGR of 5.24%
during the forecast period. Regulations concerning oil and chemical
spills as well as growing concerns about environment are the main
factors expected to aid growth in global industrial absorbents
market during forecast period. However, saturation and buoyancy of
industrial absorbent products as well as availability of
cost-effective substitutes of industrial absorbents hinder the
global industrial absorbents market.
Global Industrial Absorbents Market Segmentation
Global industrial absorbents market has been categorized into
product, type, end-use industry, material type and regional
distribution.Rolls, pads, booms and socks are the segments covered
under product type.
Of these categories, booms and socks are ideal industrial
absorbents for spill control.These are extensively used for
oil-based spill control in water environment.
Notably, booms have exceptional water repelling properties and are
best suited for water environment like lakes, ponds and sea.On the
other hand, socks are flexible tubes, which are used to control and
contain spills on land environment and are ideal for rapidly
absorbing water-based or oil-based liquid spills on land.
Based on material type, the market has been bifurcated into
synthetic, natural organic and natural inorganic. Based on type,
the market has been segmented into oil-only, universal and HAZMAT.
Considering the type segment, HAZMAT is anticipated to be one of
the largest contributors in global industrial absorbents market
during the forecast period. Stringent regulations in regions like
Europe and North America on chemical discharge into the
environment are boosting demand for spill control products. Based
on end-use industry, the market has been segmented into chemicals,
oil & gas and food processing. Chemicals are hazardous
materials and can cause severe harm to humans or environment, if
accidentally released or spilled in the environment. The
manufacturers of chemicals need to immediately respond to
accidental spills that occur during manufacturing processes to
minimize the impact of spills on the environment. Furthermore,
regions like Europe and
North America have stringent norms
with respect to chemicals and spill response. All these factors
propel the growth of industrial absorbents in the chemical end-use
industry.
Global Industrial Absorbents Market Regional Segmentation
Asia-Pacific industrial absorbents
market is expected to register the fastest growth rate, owing to
growing awareness and pressure to reinforce strict environmental
regulations for spill response and control as well as pollution
caused by end-user industries. The industrial absorbents market in
Asia-Pacific is driven by demand
from countries like China,
India, South Korea and Japan, owing to rapid industrialization and
increasing occurrences of small liquid spills across end-user
industries.
Competitive Landscape
Some of the leading companies in global industrial absorbents
market are 3M Company, Brady
Corporation, Johnson Matthey Plc, Oil-Dri Corporation of America,
Ansell Limited, New Pig Corporation, Monarch Green, Inc., DecorUS
Europe Ltd. and Meltblown Technologies Inc.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
• To analyze and forecast global industrial absorbents market
size.
• To forecast global industrial absorbents market based on product,
material type, end-use industry, type and regional
distribution.
• To identify drivers and challenges for global industrial
absorbents market.
• To examine competitive developments such as expansions, new
product launches, mergers & acquisitions, etc., in global
industrial absorbents market.
• To conduct the pricing analysis for industrial absorbents
market.
• To identify and analyze the profile of leading players involved
in the manufacturing of industrial absorbents.
Some of the leading players in global industrial absorbents market
are 3M Company, Brady Corporation,
Johnson Matthey Plc, Oil-Dri Corporation of America, Ansell
Limited, New Pig Corporation, Monarch Green, Inc., DecorUS Europe
Ltd. and Meltblown Technologies Inc.
The analyst performed both primary as well as exhaustive secondary
research for this study.Initially, The analyst sourced a list of
leading manufacturers across the globe.
Subsequently, The analyst conducted primary research surveys with
the identified companies.While interviewing, the respondents were
also enquired about their competitors.
Through this technique, The analyst could include the manufacturers
which could not be identified due to the limitations of secondary
research. The analyst analyzed the product offerings, distribution
channels and presence of all major players operating in global
industrial absorbents market.
The analyst calculated global industrial absorbents market size
using a top-down approach, where data for various end-user segments
was recorded and forecast for the future years.The analyst sourced
these values from the industry experts and company representatives
and externally validated through analyzing historical data of these
product types and applications for getting an appropriate, overall
market size.
Various secondary sources such as company websites, news articles,
press releases, company annual reports, investor presentations and
financial reports were also studied by the analyst.
Key Target Audience:
• Industrial absorbent manufacturers and suppliers
• Government bodies such as regulating authorities and
policymakers
• Organizations, forums and alliances related to industrial
absorbents
• Market research and consulting firms
The study is useful in providing answers to several critical
questions that are important for industry stakeholders such as
manufacturers, partners and end users. The report also provides
useful insights about which market segments should be targeted over
the coming years in order to strategize investments and capitalize
on growth opportunities.
Report Scope:
In this report, global industrial absorbents market has been
segmented into following categories, in addition to the industry
trends which have also been detailed below:
• Market, by Product:
• Rolls
• Pads
• Booms
• Socks
• Market, by Material Type:
• Synthetic
• Organic
• Inorganic
• Market, by Type:
• Oil-only
• Universal
• HAZMAT
• Market, by End-Use Industry:
• Chemical
• Oil & Gas
• Food Processing
• Market, by Region:
• North America
United States
Canada
México
• Europe
Russia
United Kingdom
Norway
Italy
Germany
• Asia-Pacific
China
India
Australia
Japan
Malaysia
Indonesia
South Korea
• Middle East & Africa
Saudi Arabia
UAE
Iran
Algeria
Kuwait
• South America
Brazil
Argentina
Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
operating in global industrial absorbents market.
Available Customizations:
With the given market data, we offers customizations according to a
company's specific needs. The following customization options are
available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up
to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales
channel.
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