Industrial Absorbent Market is Forecasted to Reach US$ 4.67 Billion in 2028, Says Stratview Research

The global industrial absorbent market is projected to witness a growth rate of 4.99% annually from 2023 to 2028, with an anticipated size of US$ 4.67 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global industrial absorbent market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 4.67 billion
Growth (CAGR): 4.99% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Industrial Absorbent Market:

The global Industrial Absorbent market is segmented based on Material type, Product type, Utility type, End-Use Industry type, and Region.

Based on material type - The market is segmented as natural organic, inorganic, and synthetic. The synthetic segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The quality of results offered by synthetic absorbents is driving the growth of this segment.

Based on product type - The industrial absorbent market is segmented as pads, rolls, pillows, granules, booms & socks, sheets & mats, and others. The booms & socks segment is expected to grow with a lucrative CAGR over the forecast period owing to the growing incidences of accidental spills in marine areas.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/1139/industrial-absorbent-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

In terms of regions, Asia-Pacific is estimated to be the fastest-growing industrial absorbent market during the forecast period, with China, Japan, India, and South Korea being the major countries with promising growth opportunities. The growth of the market is driven by the introduction of various government initiatives to reinforce environmental regulation to spill response. North America and Europe are also anticipated to offer significant growth opportunities over the forecast period.

Industrial Absorbent Market Drivers:
Some of the key drivers listed in the report are given below.
• Oil and chemical spills pose significant risks to ecosystems, human life, and marine environments. They can also contaminate underground water reserves and cause significant economic burdens on governments and companies. The Gulf of Mexico oil spill in 2010 led to BP Plc spending $65.77 billion for response, cleanup, and compensation. Governments worldwide are taking proactive steps to protect against pollution's adverse effects.
• Environmental regulatory bodies monitor companies to prevent and manage spills, while governments develop contingency plans and maintain spill control resources. Media and NGOS play a crucial role in raising awareness and compelling responsible agencies to mitigate spill impacts. As concerns over spill consequences intensify and environmental regulations tighten, the industrial absorbents market is expected to experience significant growth.

Top Companies in the Industrial Absorbent Market:
Stratview Research has identified the following companies as the top market players.
• Brady Corporation
• Decorus Europe Ltd.
• Johnson Matthey Plc
• Kimberly-Clark Professional
• Meltblown Technologies Inc.
• Monarch Green, Inc.
• New Pig Corporati
• Oil-Dri Corporation of America
• The 3M Company
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Industrial Absorbent Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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This release was published on openPR.