Press release
Desiccant Market Poised to Reach USD 1.0 Billion by 2034
The desiccant market was projected to attain US$ 552.6 million in 2023. It is likely to garner a 5.7% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 1.0 billion.Desiccants are widely used in various industrial applications such as air and gas drying, which is crucial in industries like oil and gas, petrochemicals, and manufacturing. Innovation in desiccant technology, including the development of more efficient and environmentally friendly desiccants, is a key trend.
The rise of e-commerce and the need for effective moisture control in packaging during shipping and storage is boosting the desiccant market. The development and commercialization of bio-based desiccants offer new opportunities, aligning with the global shift towards green and sustainable products.
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Growth in the automotive sector, particularly in electric vehicles which require moisture-sensitive electronic components, boosts the demand for desiccants. Desiccants are being integrated with smart packaging solutions that can monitor and indicate humidity levels, ensuring better quality control.
Key Findings of the Market Report
Adoption of IoT in logistics and supply chain management allows for real-time monitoring of moisture levels, enhancing the use of desiccants.
Development of recyclable and reusable desiccants to meet environmental sustainability goals.
Implementation of advanced manufacturing techniques like 3D printing in desiccant production can reduce costs and improve efficiency.
The chemical industry's growth, which often requires stringent moisture control in production and storage, provides a significant market for desiccants.
Market Trends for Desiccants
By type, the molecular sieve segment is expected to boost the growth of the desiccant market.
Molecular sieves have a higher adsorption capacity compared to other desiccant types, making them more efficient in removing moisture from various environments.
Molecular sieves exhibit selective adsorption properties, allowing them to target specific molecules, such as water vapor, while leaving other molecules untouched. This specificity enhances their effectiveness in moisture control.
On the basis of form, the granule segment is expected to propel the market growth.
Granular desiccants typically have a larger surface area compared to other forms, allowing for greater moisture absorption capacity per unit volume.
Granular desiccants offer versatility in applications across various industries, including pharmaceuticals, electronics, food packaging, and automotive, contributing to their widespread adoption.
Global Market for Desiccant: Regional Outlook
North America
The North American food and beverage industry is witnessing increasing demand for processed and packaged foods, which require effective moisture control to prevent spoilage and maintain product freshness. Desiccants are essential in packaging materials to ensure the integrity and safety of food products, thereby boosting their demand.
North America is home to a significant electronics and semiconductor manufacturing industry. Desiccants are extensively used in the production, storage, and transportation of electronic components to prevent moisture-related damage. The growth of these industries contributes to the increasing demand for desiccants.
Asia Pacific
The rapid growth of e-commerce in Asia Pacific has led to increased demand for efficient packaging solutions to ensure the quality and integrity of products during transit. Desiccants play a crucial role in moisture control within packaging, particularly for products sensitive to humidity, thereby contributing to market growth.
The Asia Pacific region is witnessing significant infrastructure development projects in sectors such as construction, transportation, and utilities. Desiccants are used in building materials to prevent moisture-related issues such as mold and mildew growth, contributing to market growth in the construction industry.
Desiccant Market: Key Players
The competitive landscape of the desiccant market is characterized by the presence of several key players, along with numerous smaller companies and regional manufacturers.
These companies compete based on factors such as product innovation, quality, price, distribution network, and customer service. The following companies are well known participants in the desiccant market:
Arkema
CLARIANT
Evonik Industries AG
MITSUBISHI GAS CHEMICAL COMPANY, INC.
Multisorb
Silica Gel Desiccants
Sorbead India
TROPACK Packmitel GmbH
W. R. Grace & Co.
WISESORBENT TECHNOLOGY LLC
BeeChems
CILICANT
Desiccant Market Segmentation
Type
Silica Gel
Molecular Sieve
Activated Alumina
Activated Carbon
Bentonite Clay
Calcium Chloride
Calcium Sulfate
Others
Form
Powder
Granule
Pellet
Others
Packaging
Sachet/Pouch
Canister
Bag
Others
End-use Industry
Consumer Goods
Electronics & Semiconductors
Pharmaceutical & Healthcare
Food & Beverage
Chemicals & Petrochemicals
Automotive & Transportation
Aerospace & Defense
Construction
Others
Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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Summary
This report studies Desiccant Dryer in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering
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Ingersoll Rand
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KAWATA
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