Global Adsorbent Market is Likely to Grow at a CAGR Value of 5.70 % By 2028

19-Aug-2022 | Zion Market Research

The global adsorbent market size was worth USD 3,829.50 million in 2021 and is estimated to grow to USD 5340.623 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.70 percent over the forecast period. The report analyzes the adsorbent market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the adsorbent market.

The adsorbent is a chemical frequently used in the purification process by many businesses worldwide. Some primary product categories in the global adsorbents market include silica gel, activated alumina, molecular sieve, clay, and activated carbon. These adsorbents also exhibit desiccant qualities, which use a physical adsorption method similar to the adsorbent. Adsorbents are substances that can remove certain elements from solids, liquids, and gases while retaining their physical qualities. They build layers through the adhesion process and are mostly employed in the form of rods, monoliths, and molding, among other things. Adsorbents have a variety of qualities, including strong abrasion resistance, high surface capacity, high thermal stability, and others, making them appropriate for use in a variety of petrochemical industries, air separation & drying industries, water treatment industries, and others. Adsorbents are thus the next industry leaders since they have many qualities that might be highly valuable in different sectors.

Adsorbents are largely in demand for their ability to treat water, as water treatment is one of the many problems companies confront. Recent adsorbents technology has been created to develop low-cost polymer-based adsorbents that may be utilized to extract toxic chemicals, anions, and other dangerous compounds from industrial wastewater and convert them to fresh water. Though this technology is not widely employed, it allows for the future development of approaches that can be easily applied to wastewater treatment. Adsorbents are gaining popularity in various end-use sectors because of their multiple features, including improved heat stability and abrasion resistance. Petroleum refining, gas refining, chemicals/petrochemicals, water treatment, air separation & drying, and packaging are effective uses of adsorbents. As a result, the increasing usage of adsorbents in various end-use sectors is expected to generate demand possibilities for vendors operating in the global adsorbents market in the coming years. The biggest limitation in the adsorbent market is the variation in oil prices, which has a negative impact on petroleum demand, decreasing the adsorbent market value.

The global adsorbent market is segregated based on type, application, and region. Based on type, the market is segmented into molecular sieves, activated carbon, silica gel, activated alumina, and others. Molecular sieves dominated the market in 2021. Based on application, the market is segmented into petroleum refining, chemicals/petrochemicals, gas refining, water treatment, air separation & drying, packaging, and others. Among these, petroleum refining dominated the market in 2021.

The global adsorbent market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The North American adsorbents market is predicted to increase significantly over the forecast period. This is mostly due to the commercial extraction of shale gas in North America and the consequent need for adsorption materials for petroleum gas processing. The Asia Pacific is regarded as one of the most important adsorbent market regions. Increased demand for adsorbents in various industries is one of the key factors driving the growth of the Asia Pacific adsorbents market. In the next years, the market is expected to benefit from increased demand for environmentally friendly and cost-effective adsorbent solutions.

Key players in the global adsorbents market include Arkema, Honeywell International Inc., Axens, BASF Se, Cabot Corporation, Clariant Ag, W. R. Grace & Co.-Conn, Calgon Carbon Corporation, Zeochem, Jalon, Porocel, Zeolyst International, Haycarb Plc, Fuji Silesia Chemical, Ltd., AGC Chemicals Americas, Interra Global, Graver Technologies, Llc, Silicycle Inc, Kureha Corporation, Molsivcn Adsorbent Co., Ltd, Sorbead India, Hengye Inc, Cilicant, and Zettachem International.

Recent Development:

  • January 2020: According to Honeywell, Altus Midstream implemented Honeywell UOP's Ortloff SRX technology at its Diamond Central cryogenic gas processing facility, making it the first global usage of the breakthrough technology to extract valuable natural gas liquids (NGLs) from input gas. The Reeves County, Texas, plant launched in May 2019 and can now handle up to 600 million standard cubic feet of natural gas daily.
  • June 2021: W. R. Grace & Co. has completed its acquisition of Albemarle Corporation's Fine Chemistry Services business for approximately USD 570 million, including USD 300 million in cash and USD 270 million funded by the issuance to Albemarle of non-participating preferred equity of a newly formed Grace subsidiary.

Browse the full Adsorbent Market By Type (Molecular Sieves, Activated Carbon, Silica Gel, Activated Alumina, Others), By Application (Petroleum Refining, Chemicals/Petrochemicals, Gas Refining, Water Treatment, Air Separation & Drying, Packaging, Others), and By Region - Global and Regional Industry Overview, Comprehensive Analysis, Market Intelligence, Historical Data, and Forecasts 2022 – 2028. Report at https://www.zionmarketresearch.com/report/adsorbent-market

Global Adsorbents Market is segmented as follows:

By Type

  • Molecular Sieves
  • Activated Carbon
  • Silica Gel
  • Activated Alumina
  • Others

By Application

  • Petroleum refining
  • Chemicals/Petrochemicals
  • Gas refining
  • Water treatment
  • Air Separation & Drying
  • Packaging
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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