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Adsorbents Market Analysis: $6.91 Billion by 2029 With a CAGR of 7.2%
Adsorbents Market
Adsorbents Market Value Projection: How Much Will the Market Size by 2025?
There has been significant growth in the adsorbents market in recent times. It is projected to expand from a market size of $4.96 billion in 2024 to $5.23 billion in 2025, with a compound annual growth rate (CAGR) of 5.3%. The historic expansion has been fueled by factors such as advancements in industrial manufacturing and processing, increasingly stringent environmental laws and pollution control measures, requirements for water treatment and purification, uses within the oil and gas industry, and demand from the pharmaceutical and healthcare sectors.
What Will Be the Market Growth Forecat for Adsorbents in 2029?
Anticipated robust expansion of the adsorbents market is on the cards over the upcoming years, with the market burgeoning to $6.91 billion by 2029, fueled by a compound annual growth rate (CAGR) of 7.2%. This surge in the projected period can be credited to an accentuated emphasis on eco-friendly and sustainable technologies, augmented alertness of water scarcity, broadening applications in gas separation, advancements in the pharmaceutical sphere, and shifting regulations for air quality management. Significant trends that can be seen in the projection period encompass its use in industrial gas purification, adoption in energy storage systems, creative approaches towards adsorbent-focused water treatment, market growth in the Asia-Pacific region, and increased demand for gasoline and diesel purification.
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What Are the Core Competitive Drivers in the Adsorbents Industry?
Accelerated industrial progression is predicted to drive the adsorbents market's expansion. The procedure of shifting an economy from predominantly agrarian orientation to a manufacturing and industry focus, encompassing technological advancements, augmented production capabilities, and urbanization is referred to as industrialization. The ascension of industrialization can be attributed to technological advancements, growing global demand for goods, and the necessity for economic expansion and infrastructure development, especially in evolving economies. To remove impurities, contaminants, and undesired substances from gases or liquids, adsorbents are essential in industrial activities, ensuring the purity of products, enhancing process efficiency, and complying with environmental regulations. For example, according to a report by Statistics Canada in July 2023, a government agency based in Canada, approximately 19.5% businesses in the manufacturing sector intended on expanding their current business or organization location within the subsequent 12 months. This is more than double the percentage observed in the arts, entertainment, and recreation sector which stands at 8.2% , and nearly triple the total business average of 6.7%. Over 5.5% of manufacturing businesses also planned on expanding internationally, with comparable aims reported by 5.3% of businesses in arts, entertainment, and recreation, and 4.5% in wholesale trade. Therefore, accelerated industrialization is contributing to the growth of the adsorbents market.
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Which Adsorbents Market Segment Is Projected to See the Fastest Growth?
The adsorbents market covered in this report is segmented -
1) By Type: Molecular Sieves, Activated Carbon, Silica Gel, Clay, Other Type
2) By Application: Water Treatment, Air Separation, Packaging, Gas Refining, Other Application
3) By End-User: Pharmaceutical, Commercial, Industrial, Petrochemical, Other End-User
Subsegments:
1) By Molecular Sieves: Type A, Type X, Type Y
2) By Activated Carbon: Granular Activated Carbon (GAC), Powdered Activated Carbon (PAC), Extruded Activated Carbon
3) By Silica Gel: Standard Silica Gel, Chromatography Silica Gel
4) By Clay: Natural Clay, Modified Clay
5) By Other Types: Zeolites, Alumina, Bio-Based Adsorbents
Which Trends Are Opening New Opportunities in the Adsorbents Market?
One noticeable trend in the adsorbents market is product innovation. Big players in this sector are centering their efforts on delivering new products to satisfy customer needs. For example, in July 2022, a German-based firm, BASF SE, introduced PuriCycle. This portfolio comprises innovative catalysts and adsorbents that can selectively eliminate or modify a variety of contaminants found in pyrolysis oils, making it possible for circular plastics streams to undergo downstream processing. PuriCycle is designed to help businesses comply with industry composition standards, achieve high purification and upgrading efficiency, and broaden their capabilities in chemical plastic recycling. PuriCycle is used to cleanse pyrolysis oils, a secondary raw material produced from chemically recycling plastic waste and employed in the production of new polymers at the beginning of the value chain.
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Who Are the Leaders in the Adsorbents Market?
Major companies operating in the adsorbents market include Arkema SA, Axens SA, BASF SE, Cabot Corporation, Clariant AG, Calgon Carbon Corporation, Graver Technologies LLC, Sorbead India, Adsorbents Carbons, Universal Carbons, Global Absorbents Pvt. Ltd., Honeywell International Inc., Zeolyst International, Ashapura Minechem Ltd., Zeotec Adsorbents Private Limited, Bee Chems, Suneeta Chemicals Pvt. Ltd., Raj Carbon Pvt. Ltd., Dow Inc., Mitsubishi Chemical Corporation, PQ Corporation, DORF KETAL, Zeochem AG, Purolite Ltd., Thermax Limited, Sunresin New Materials Co. Ltd., Lanxess AG, W. R. Grace & Co., Kuraray Co. Ltd.
Which Regional Adsorbents Markets Offer the Greatest Growth Potential?
Asia-Pacific was the largest region in the adsorbents market in 2024. The regions covered in the adsorbents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Adsorbents
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The report titled “Adsorbents Market” sheds a concentrated focus on the Adsorbents industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.
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The global Adsorbents Market is estimated to be USD 4.1 billion in 2021 and is projected to reach USD 5.6 billion by 2026, at a CAGR…
