PUNE, India, December 4, 2015 /PRNewswire/ --
The report "Adsorbents Market by Type (Molecular Sieves, Activated Carbon and Alumina, Silica Gel, Clay, and Others), by Application (Petrochemicals, Water Treatment, Air Separation & Drying, and Others), and by Region - Global Trends and Forecast to 2020", The global Adsorbents Market is projected to reach USD 4.3 Billion by 2020 at a CAGR of 6.3% during the period of study.
Browse 112 market data Tables and 52 Figures spread through 158 Pages and in-depth TOC on "Adsorbents Market"
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The growth is fueled by the high potential from molecular sieves and activated carbon, increasing the global demand for petroleum refining, chemicals/petrochemicals, and growth in gas refining industry.
Molecular sieves to be the largest segment of Adsorbents Market by 2020. Molecular sieves are the largest segment of adsorbents that have very small pores of precise and uniform size. These are used in petrochemicals and air separation and drying applications. North America is the largest market for molecular sieves due to the huge demand from oil & gas industry. Moreover, rise in air separation & drying application is also driving the demand for adsorbents in the region. Asia-Pacific is the fastest-growing market for the use of molecular sieves mainly because of surge in the petroleum refining application especially in China the largest market for oil refining industry and the trend is expected to continue till 2020.
Petroleum refining industry to play the key role in the global adsorbents market
Petroleum refining industry is the largest application of adsorbents globally. Petroleum refining adsorbents are widely used in dehydration of alkylation feed and in purification of feedstock to protect isomerization catalysts in refining. North America is the largest market for petroleum refining application of adsorbents. This high demand is due to the fact that crude oil in the region contains high amount of sulfur and other impurities, thus driving the adsorbents market in the region.
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North America to be the dominant market for adsorbents
North America is the global forerunner of adsorbents market, in terms of value and volume, and this trend is expected to continue till 2020. The countries in this region such as the U.S., Canada, and Mexico are witnessing a significant increase in the use of adsorbents in air separation & drying and water treatment applications. The industrial development in North America is driving the demand for adsorbents materials used in this region. The U.S. accounts for a significant market share in the global adsorbents market.
The adsorbents market has less number of global players competing significantly for the market share, who are actively investing in various strategies such as, new product developments, major acquisitions, joint ventures & collaborations, and expansion projects globally to increase their market share. Also, companies are investing heavily in R&D activities. Major players, such as Arkema S.A (France), BASF SE (Germany), W.R Grace and Company (U.S), Calgon Carbon Corporation (U.S), and Axens S.A (France), have adopted various organic and inorganic developmental strategies.
This report covers the market, in terms of value and volume, for adsorbents and forecasts the market size till 2020. The report includes market segmentation by material, by application, and by region. It also provides company profiles and competitive strategies adopted by the major market players in the global adsorbents market.
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