The Global Adsorbents Market is estimated to be USD 4.1 billion in 2021 and is projected to reach USD 5.6 billion by 2031, at a CAGR of 5.9% from 2021 to 2031. The driving factors for the adsorbents market is the industry growth is backed by the large-scale developments in oil & gas processing and socio-economic advancements such as the increased use of adsorbents in maintaining purity standards in various applications and because of environmental concerns.
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“Molecular Sieves is expected to be the fastest-growing type in the Adsorbents market during the forecast period.”
Molecular Sieves is the fastest-growing type segment in the Adsorbents market. . The growth in this segment is attributed to the growing use of adsorbents in petroleum refining. Molecular sieves are often utilized in the petroleum industry, especially for the purification of gas streams and in the chemistry laboratory for separating compounds and drying materials. There are four main types of molecular sieves: 3A, 4A, 5A, and 13X. The type is dependent on the molecule’s chemical formula, and it determines the pore size of the molecular sieve. It accounted for a share of about 38.56% of the Adsorbents market, in terms of value, in 2020.
“Petroleum Refining is expected to be the fastest-growing application in the Adsorbents market during the forecast period.”
Petroleum Refining is the fastest-growing application segment in the Adsorbents market Petroleum refining adsorbents are widely used in the dehydration of alkylation feed and in the purification of feedstock to protect isomerization catalysts in refining. These adsorbents remove a wide variety of contaminants effectively and economically from numerous hydrocarbon streams in petroleum refineries through non-regenerative and regenerative adsorbents. It accounted for a share of about 22.39% of the Adsorbents market, in terms of value, in 2020.
“APAC is the largest market for Adsorbents ”
APAC accounted for the largest share of the Adsorbents market in 2020. The adsorbents market in APAC is driven by the demand from countries such as China, Japan, and India. Rapid industrialization, mainly in emerging economies such as China and India, has been one of the major factors driving the global adsorbents market. Adsorbents are widely used for removing and controlling contaminants from various industrial processes, such as the production of low sulfur fuels. They are extensively used for a wide range of applications, ranging from insulating glass windows to the removal of mercury in large-scale natural gas/crude oil wellheads. Adsorbents are an integral part of any process used in the manufacturing of modern-day specialized products. The market in APAC, owing to high demand, is much more dynamic and competitive than that in the western region. These factors are projected to drive the demand for adsorbents in APAC.
This study has been validated through primaries conducted with various industry experts worldwide. These primary sources have been divided into 3 categories, namely by company, by designation, and by region.
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By Company Type- Tier 1- 55%, Tier 2- 30%, and Tier 3- 15%
By Designation- C Level- 21%, Directors – 23%, and Others – 56%
By Region- North America- 45%, Europe- 27%, Asia Pacific- 15%, Middle East – 6%, and South America – 7%
The Adsorbents market comprises major solution providers, such Arkema SA(France), Honeywell International Inc(US), Axens(France), BASF SE (Germany), Cabot Corporation(US), among others. The study includes an in-depth competitive analysis of these key players in the Adsorbents market, with their company profiles, and key market strategies.
The report covers the Adsorbents market based on type, application, and region. This study aims at estimating the size and future growth potential of the market across various segmentation types. It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report:
Comprehensive coverage and analysis of the Adsorbents market in Asia Pacific, Europe, North America, South America and Middle East & Africa
Competitive landscape of major players and their developments in Adsorbents market
Identifying high-potential opportunities for Adsorbents
Identifying and targeting high-growth application segments”
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