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Industrial Absorbents Market to Exceed $4.7 Billion by 2023

According to the new market research report, the industrial absorbents market is expected to grow from USD 3.7 billion in 2018 to USD 4.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.

The report, prepared by Research and Markets and entitled “Industrial Absorbents Market By Material Type (Natural Organic & Inorganic, Synthetic), Product (Pads, Rolls, Booms & Socks), Type (Universal, Oil-only, HAZMAT), End-use Industry (Oil & Gas, Chemical, Food Processing), and Region – Global Forecast to 2023“, states that the major factors driving the industrial absorbents market include growing environmental concerns and regulations regarding oil and chemical spills.

The synthetic segment is expected to be the fastest-growing material type segment in the industrial absorbents market. The industrial absorbents market by material type has been categorized into natural organic, natural inorganic, and synthetic. Synthetic industrial absorbents are capable of absorbing liquid up to 70 times of their weight, which makes them a highly adopted material for industrial applications. Synthetic absorbents have properties such as non-flammability and excellent water repellency, which makes them suitable for applications in oil-only and HAZMAT spill control products.

Booms and socks are ideal industrial absorbents products for spill control. Booms and socks are widely used for oil-based spill control in water environment. Booms have excellent water repelling properties and are best suited for water environments such as sea, lakes, and ponds, among others. Socks are flexible tubes which are used to control and contain spills on land environment and are ideal for quickly absorbing oil- or water-based liquid spills on land. In regions such as the Middle East & Africa and Europe, there are high occurrences of large spills in marine areas, which drives the growth of booms & socks segment in the industrial absorbents market.

Oil Absorbent Booms

Market Drivers

HAZMAT/chemical absorbent products are used to cleanup spills involving acids, bases, and other hazardous or unknown liquids as these spills can have harmful impacts on the environment and can be dangerous to the living beings present in the vicinity. HAZMAT/chemical absorbent products are designed to absorb the most aggressive acidic or caustic fluids and are majorly composed of synthetic absorbents. In addition, stringent regulations in regions such as North America and Europe on chemical discharge in to the environment have led to an increase in the demand for spill control products designed for chemicals. Therefore, this factor has fueled the adoption and application of HAZMAT/chemical absorbent products, which is driving the growth of the industrial absorbents market.

Chemicals are hazardous materials, and can cause severe harm to humans or environment if accidentally released or spilled in the environment. Chemical accidents usually occur during transportation of stored chemicals. Chemical manufacturers need to immediately respond to accidental spills that occur during manufacturing processes to minimize the impact of spills on the environment. Furthermore, regions such as North America and Europe have stringent norms with respect to chemicals and spill response. All these factors have fueled the growth of the industrial absorbents market in the chemical end-use industry.

Asian Pacific Market

Asia Pacific industrial absorbents market is expected to have the highest growth rate during the forecast period due to the rising awareness and pressure to reinforce strict environmental regulations for spill response & control and pollution caused by end-use industries. The industrial absorbents market in Asia Pacific is driven by the demand from countries such as China, Japan, India, and South Korea, owing to rapid industrialization and rising occurrences of small liquid spills across the end-use industries.

Key Market Players

The major manufacturers in the global industrial absorbents market are 3M Company (US), Brady Corporation (US), Decorus Europe Ltd. (UK), Johnson Matthey Plc (UK), Kimberly-Clark Professional (US), Meltblown Technologies Inc. (US), Monarch Green, Inc. (US), New Pig Corporation (US), and Oil-Dri Corporation of America (US).

U.S. Environmental Industry generates $388 billion in revenues in 2017

The U.S. environmental industry generated revenues of $388 billion in 2017, up from $370 million in 2016, according to preliminary estimates by Environmental Business International Inc. (EBI), publisher of Environmental Business Journal (EBJ). The environmental industry’s annual growth rate of 4.8% in 2017 represents a steady increase from 3.6% in 2016 and 2.1% in 2015.

Every year, EBJ’s Annual Industry Overview presents estimates and forecasts for 13 business segments, in addition to offering perspective on how the environmental industry is responding to changing macroeconomic conditions and regulatory and policy trends. This year’s summary reviews conditions one year into the Trump Administration.

To purchase EBJ’s Annual Industry Overview and receive statistical summaries of the industry in 13 segments with multiple charts featuring revenues, growth, number of companies, forecasts, growth factors and revenue breakdowns by client, media and function, visit the EBI website.

Market Report on the Emergency Spill Response Industry

360 Market Updates recently issued an Emergency Spill Response Market Research Report that highlights key dynamics of North America Emergency Spill Response Market sector.  The Research Report passes on an initial survey of the emergency spill response market including its definition, applications and innovation.  Additionally, the report explores the major market players in detail.  The Research Report provides a detailed overview and discussion the status of the players involved in emergency spill response.  It is also a valuable source of information on trends in the industry including projected growth.

Key questions answered in the Emergency Spill Response Market report include the following:

  • What will the market growth rate of Emergency Spill Response market in 2022?
  • What are the key factors driving the North America Emergency Spill Response market?
  • What are sales, revenue, and price analysis of top manufacturers of Emergency Spill Response market?
  • Who are the distributors, traders and dealers of Emergency Spill Response market?
  • Who are the key vendors in Geographical market space?
  • What are the Emergency Spill Response market opportunities and threats faced by the vendors in the North America Emergency Spill Response market?
  • What are sales, revenue, and price analysis by types, application and regions of Emergency Spill Response market?
  • What are the market opportunities and risks?

There are 15 Chapters to deeply display the North America Emergency Spill Response market.

Chapter 1, to describe Emergency Spill Response Introduction, product type and application, market overview, market analysis by countries, market opportunities, market risk, market driving force;

Chapter 2, to analyze the manufacturers of Emergency Spill Response, with profile, main business, news, sales, price, revenue and market share in 2016 and 2017;

Chapter 3, to display the competitive situation among the top manufacturers, with profile, main business, news, sales, price, revenue and market share in 2016 and 2017;

Chapter 4, to show the North America market by countries, covering United States, Canada and Mexico, with sales, revenue and market share of Emergency Spill Response, for each country, from 2012 to 2017;

Chapter 5 and 6, to show the market by type and application, with sales, price, revenue, market share and growth rate by type, application, from 2012 to 2017;

Chapter 7, 8 and 9, to analyze the segment market in United States, Canada and Mexico, by manufacturers, type and application, with sales, price, revenue and market share by manufacturers, types and applications;

Chapter 10, Emergency Spill Response market forecast, by countries, type and application, with sales, price and revenue, from 2017 to 2022;

Chapter 11, to analyze the manufacturing cost, key raw materials and manufacturing process etc.

Chapter 12, to analyze the industrial chain, sourcing strategy and downstream end users (buyers);

Chapter 13, to describe sales channel, distributors, traders, dealers etc.

Chapter 14 and 15, to describe Emergency Spill Response Research Findings and Conclusion, Appendix, methodology and data source

According to an earlier study by Markets and Markets research firm, the emergency spill response market is estimated to be worth USD 33.68 Billion by 2022.   Markets and Markets research firm hold the view that the emergency spill response market is driven by the increasing international trade and transportation and initiatives taken by government agencies of various countries globally to protect the environment from the adverse effects of pollution by enacting various environmental protection and restoration policies and legislations. In the future, government initiatives to strengthen the response to oil spills on the sea would provide opportunities to the players operating in this market.