The Adsorbents by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Adsorbents , The adsorbents market size has grown strongly in recent years. It will grow from $4.67 billion in 2023 to $5 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to industrial manufacturing and process optimization, environmental regulations and pollution control, water treatment and purification needs, oil and gas industry applications, pharmaceutical and healthcare sector demand..
The adsorbents market size is expected to see strong growth in the next few years. It will grow to $6.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rising focus on sustainable and green technologies, growing awareness of water scarcity, expanding applications in gas separation, pharmaceutical industry advancements, evolving regulations for air quality control.. Major trends in the forecast period include applications in industrial gas purification, utilization in energy storage systems, innovation in adsorbent-based water treatment, market expansion in asia-pacific region, demand in gasoline and diesel purification..
The increase in demand for oxygen concentrators is expected to propel the growth of the adsorbents market going forward. An oxygen concentrator provides extra or supplemental oxygen to patients who have respiratory difficulties. The portable oxygen concentrator using the PSA technology can adsorb nitrogen from the air and produce an enriched oxygen stream under high-pressure settings due to the enormous microporous surface area inside the zeolite adsorbents hence, usage of adsorbents drastically increased in oxygen concentrators due to covid-19. For instance, in February 2021, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, WHO, and partners have supplied more than 30,000 concentrators and 40,000 pulse oximeters and patient monitors, reaching 121 countries, including 37 nations. Therefore, the increase in demand for oxygen concentrators drives the adsorbents market.
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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 Seperation, Packaging , Gas Refining, Other Application
3) By End-User: Pharmaceutical, Commercial, Industrial, Petrochemical, Other End-User
Product innovation is a key trend in the adsorbents market. Major companies operating in the adsorbents sector focus on developing new products to meet customer demand. For instance, in July 2022, BASF SE, a German-based company, launched PuriCycle. PuriCycle’s portfolio includes innovative catalysts and adsorbents designed to selectively remove or convert a wide range of contaminants in pyrolysis oils, allowing for downstream processing of circular plastics streams. PuriCycle can assist companies in meeting industry compositional compliance standards, gaining high efficiency in purification and upgrading solutions, and increasing their flexibility in the chemical recycling of plastics. PuriCycle purifies pyrolysis oils, a secondary raw material derived from the chemical recycling of plastic waste and used in manufacturing new polymers at the start of the value chain.
The adsorbents market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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