Industrial Absorbent Market Size and Growth Analysis to 2028

Industrial Absorbents Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Pads, Rolls, Pillows, Booms, Socks, and Others), Type (Universal, Oil-Only, and Hazmat/Chemical), and End-Use Industry (Oil & Gas, Chemical, Food Processing, Healthcare, Automotive, and Others)

Publication Month : Feb 2023

  • Report Code : TIPRE00009411
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 167
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The industrial absorbents market is expected to grow from US$ 3,850.41 million in 2022 to US$ 5,085.36 million by 2028; it is estimated to register a CAGR of 4.7% from 2022 to 2028.

Industrial absorbents are a mixture of materials that are insoluble in nature. Absorbents are used in various industries for managing chemical and oil spills. In the food processing industry, industrial absorbents are used to preserve food ingredients such as meat, fish, or poultry from drying out during storage or transportation while maintaining the original flavor and appearance of the product.

The industrial absorbents market is segmented into five major regions North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2022, Asia Pacific held the largest market share, and it is estimated to register the highest CAGR during the forecast period. High demand for industrial absorbents from manufacturing, food processing, chemical, healthcare, and oil & gas industries favors the growth of the industrial absorbents market in Asia Pacific. The chemical manufacturing industry accounts for a notable share of manufactured exports in several Asian countries, including China, South Korea, India, and Japan. Furthermore, the automobile industry in Asia Pacific has been witnessing healthy growth for the past few years. According to the International Organization of Motor Vehicle Manufacturers (OICA), the Asia-Oceania region's vehicle production increased from 44.2 million in 2020 to 46.7 million vehicles in 2021. The flourishing automotive industry in countries such as China, India, Japan, and South Korea fuels the industrial absorbents market growth.

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Industrial Absorbents Market: Strategic Insights

industrial-absorbent-market
Market Size Value inUS$ 3,850.41 million in 2022
Market Size Value byUS$ 5,085.36 million by 2028
Growth rateCAGR of 4.7% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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Impact of COVID-19 Pandemic on Industrial Absorbents Market

Before the COVID-19 pandemic, the industrial absorbents market was mainly driven by industries such as food processing, oil & gas, chemical, automotive, and healthcare. Absorbents are substances or materials that can absorb a liquid substance, and they are used to manage spillage or discharges of oils, hydrocarbons, fuels, used oils, and naphthalene and acenaphthene, among others, which can pollute the environment. In 2020, various industries had to slow down their operations due to disruptions in supply chains caused by the shutdown of national and international borders. The pandemic hampered manufacturing processes due to restrictions imposed by government authorities in various countries. The pandemic also caused fluctuations in the prices of raw materials. The pandemic caused a historic decline in global oil demand. The oil demand-supply imbalance occurred in tandem with the declining need for chemicals and refined products stemming from industrial slowdown and travel restrictions due to the pandemic. Large oil & gas companies responded by cutting capital and operational expenditure. All these factors negatively impacted the demand for industrial absorbents.

However, in 2021, the demand for industrial absorbents surged in various end-use industries due to the increased incidences of oil and chemical spills. For instance, according to the International Tanker Owners Pollution Federation Limited, six oil spills of over 7.7 tons were recorded from tanker incidents in 2021, slightly higher than incidences in 2020. In 2021, the economies started reviving as various industries resumed business activities. As a result, several industries, including oil & gas, food processing, and chemicals, showed signs of recovery in their operations. Various industries are also overcoming the challenges of supply chain disruptions of their raw materials. With such a promising recovery, the global industrial sector is expected to provide the impetus for the industrial absorbents market growth in the coming years.

Industrial Absorbents Market Breakdown, by Region

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Market Insights

Strategic Developments by Key Players Favor Industrial Absorbents Market Growth

In November 2022, Cellcomb, a subsidiary of Paper Province Company, launched a cellulose-based pad that effectively absorbs liquids from fresh foods (such as meat, fish, and poultry) packaging. Such strategic developments by key players are expected to bolster the industrial absorbents market growth. In addition, a few key players are involved in strategies such as mergers and acquisitions to expand their geographic presence.

Type-Based Insights

Based on type, the industrial absorbents market is segmented into universal, oil-only, and hazmat/chemical. The oil-only segment is expected to register the highest CAGR during the forecast period. Oil-only absorbents have the unique characteristic of repelling water, and absorbing oils and fuels selectively. As these absorbents float on the water, they are extremely effective in cleaning marine oil spills. These are used in areas where frequent oil leaks, spills, or ruptures occur—such as warehouses; automotive and marine workshops; and facilities that use, store, or dispose of oils or oil-based liquids. These absorbents work faster and last longer to offer cost-effective spill control. Oil absorbents are used to absorb motor oil leaks or any small spill near machinery with convenience, in turn, allowing users to keep workplaces clean and safe.

Industrial Absorbents Market, by Type – 2022 and 2028

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End-Use Industry-Based Insights

Based on end-use industry, the industrial absorbents market is divided into oil & gas, chemical, food processing, healthcare, automotive, and others. The chemical segment is expected to register the highest CAGR during the forecast period. Industrial absorbents such as diatomaceous and sepiolite earth are an important part of the chemical industry as they help absorb chemicals spilled during manufacturing or transportation and minimize the impact of spills on the environment.

3M Co, Ansell Ltd, Brady Corp, Decorus Europe Ltd, Meltdown Technologies Inc, Oil-Dri Corp of America, Schoeller Industries GmbH, Fentex Ltd, Complete Environmental Products Inc, and Tolsa SA are among the major players operating in the industrial absorbents market. These companies mainly focus on product innovation to expand their market share and follow emerging market trends.

Report Spotlights

  • Progressive industry trends in the industrial absorbents market to help companies develop effective long-term strategies
  • Business growth strategies adopted by market players in developed and developing countries
  • Quantitative analysis of the industrial absorbents market from 2020 to 2028
  • Estimation of global demand for industrial absorbents
  • Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industrial absorbents industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook, as well as factors driving and restraining the growth of the industrial absorbents market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
  • Size of the industrial absorbents market at various nodes
  • Detailed overview and segmentation of the market and growth dynamics of the industrial absorbents industry
  • Size of the industrial absorbents market in various regions with promising growth opportunities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, Type, and End-Use Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Can you list some of the major players operating in the global industrial absorbents market?

Some of the major players operating in the industrial absorbents market are 3M Co, Ansell Ltd, Brady Corp, Decorus Europe Ltd, Meltdown Technologies Inc, Oil-Dri Corp of America, Schoeller Industries GmbH, Fentex Ltd, Complete Environmental Products Inc, and Tolsa SA.

In 2022, which region held the largest share of the global industrial absorbents market?

In 2022, Asia Pacific accounted for the largest share of the global industrial absorbents market. The Asia Pacific region has been noticed as one of the prominent markets for the industrial absorbents owing to growth in chemical, healthcare, food processing, and other sectors. Moreover, government initiatives and policies such as Make-in-India encourage the setup of different manufacturing plants in India. The rise in foreign direct investments also leads to regional economic growth, further bolstering industrialization in the region. All these factors led to the dominance of Asia Pacific in 2022.

In 2022, which product type segment accounted for the largest share in the industrial absorbents market?

In 2022, the booms segment held the largest market share. Absorbent booms help to concentrate oil in thicker surface layers so that vacuums, skimmers, or other collection methods can be used more efficiently. As booms are resistant to acids and hydrocarbon fluids, they are widely used in the oil & gas industry. Moreover, absorbent booms absorb water-based fluids to efficiently contain hydrocarbon fluids like vegetable oils, diesel, and hydraulic oils. These factors led to the dominance of the booms segment in 2022.

In 2022, which type segment accounted for the largest share in the industrial absorbents market?

In 2022, the hazmat/chemical segment held the largest market share. Hazmat/chemical absorbent is used to handle and clean up spills of acids, bases, paints, unknown liquids, corrosive and hazardous chemicals. Furthermore, regulations related to chemical spills led to the dominance of hazmat/chemical segment in 2022.

Which end-use industry segment is expected to account for the fastest growth in the global industrial absorbents market?

During the forecast period, the chemical segment is expected to be the fastest-growing segment. Industrial absorbents such as diatomaceous and sepiolite earth are an important part of the chemical industry as they help absorb chemicals spilled during manufacturing or transportation and minimize the impact of spills on the environment. The chemical industry is expanding rapidly worldwide, driving the market growth.

What is the key driver for the growth of the global industrial absorbents market?

Oil & gas, chemicals, food processing, healthcare, and personal care industries are among the major end users of industrial absorbents. They are used to clean large- and small-scale oil spills in the oil & gas industry. Accidental spillage of oil due to fuel discharge during oil processing, leakage through large-scale offshore petroleum units, mishaps during oil drilling, and oil transportation through oceanic routes can prove as a severe threat to the surrounding environment. Oil spillage worsens the water quality and adversely affects the aquatic ecosystem. A surge in the incidents of oil spillage triggers the demand for industrial absorbents in the oil & gas industry. All these factors are driving the industrial absorbents market growth.

The List of Companies - Industrial Absorbents Market

  1. 3M Co
  2. Ansell Ltd
  3. Brady Corp
  4. Decorus Europe Ltd
  5. Meltblown Technologies Inc
  6. Oil-Dri Corp of America
  7. Schoeller Industries GmbH
  8. Fentex Ltd
  9. Complete Environmental Products Inc
  10. Tolsa SA

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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