Desiccants Market Growth, Size, Key Drivers, Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Desiccants Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The desiccants market size has grown strongly in recent years. It will grow from $0.16 billion in 2023 to $0.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the rise in disposable income, growth in the pharmaceutical industry, the increasing industrialization, growth in the packaging industry and rapid growth in e-commerce.

The desiccants market size is expected to see strong growth in the next few years. It will grow to $0.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to the increasing government support, the increasing demand from the chemical industries, the rise in the global population and rapid urbanization. Major trends in the forecast period include advanced desiccant breathers, product innovations, new bio-based moisture-adsorbing packets, technology advancements and focus on launching innovative desiccant packaging.

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Key Market Players:

Major companies operating in the desiccants market report are BASF, Evonik Industries, W. R. Grace and Co, INEOS Corporation, Clariant, Multisorb Technologies, The Dow Chemical Company, Absortech, Sorbead, Hengye Molecular Sieve, Benz Packaging Solutions (p) Ltd, The Focus Air Desiccant Traders, Aquasafe Silica Sales, Silica Gel Desiccant Industries, Shiv Chemicals, Astrum Packtech, Vahanvati Enterprise, Chunwang, Dingxing, Jiayuan, Taiwdry, Jiyou, Xiaowei, TOPCOD, JIELILE, Xiangyuan, Valdamark Ltd, Thompson & Capper Ltd, Aquadry, Baltimore Innovations, Geejay Chemicals Ltd, Systemation Euro, Air Dryer Technology Ltd, R-Tech Solutions Ltd, Cole-Parmer United Kingdom, Seibu Giken DST AB, PJSC Zaporizhtransformator, ADVANSTEH LTD, Romstal Ukraine LLC, Hygromedia LLC, Lancaster Packaging, Compressed Air Systems, Inc, Drytech Incorporated, LIBBS FARMACEUTICA LTDA, SPLACK, Joy Global, Brasil Indústria e Comércio Ltda, Super Dry International FZCO, Desiccant Rotors International Private Limited, FAS Arabia LLC, Dubai Chem Marine International, Dunak International Ltd, Guaranteed Source Ltd, Feyi Flosebit Ent, Best Farm Nig Ltd., Lavenjok Nig Ltd, Evi&sons Nigeria Limited.

Market Drivers:

The rise in textile manufacturing is expected to propel the growth of the desiccants market going forward. Textile manufacturing is a process that involves the conversion of fibers into yarn, and then yarn into fabric. Desiccants can be used to control humidity in textile manufacturing and storage to prevent mold growth and maintain fabric quality. For instance, according to the National Council of Textile Organizations, a US-based mobilizing support for the textile industry, textile and apparel shipments totalled $65.8 billion in 2022. Additionally, fiber, textile, and apparel exports combined were $34.0 billion in 2021. Thus, the rise in textile manufacturing is driving the growth of the desiccants market.

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The desiccants market covered in this report is segmented -

1) By Type: Silica Gel, Zeolite, Activated Alumina, Activated Charcoal, Calcium Chloride, Clay, Other Types
2) By Process: Physical Absorption, Chemical Absorption
3) By Application: Electronics, Food, Pharmaceutical, Packing, Other Applications

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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