Dublin, April 08, 2019 (GLOBE NEWSWIRE) -- The "Global Industrial Absorbents Market By Product (Rolls, Pads, Booms & Socks), By Material Type (Synthetic, Organic & Inorganic), By Type (Oil-only, Universal & HAZMAT), By End-Use Industry, By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
Industrial absorbents market, globally, is projected to grow from $ 3.8 billion in 2018 to $ 5.1 billion by 2024, exhibiting a CAGR of 5.24% during the forecast period.
Regulations concerning oil and chemical spills as well as growing concerns about environment are the main factors expected to aid growth of the global industrial absorbents market during forecast period. However, saturation and buoyancy of industrial absorbent products as well as availability of cost-effective substitutes of industrial absorbents is hindering the growth of the global industrial absorbents market.
Global Industrial Absorbents Market Segmentation
The global industrial absorbents market has been categorized into product, type, end-use industry, material type and regional distribution. Rolls, pads, booms and socks are the segments covered under product type. Of these categories, booms and socks are ideal industrial absorbents for spill control. They are extensively used for oil-based spill control in water environment. Notably, booms have exceptional water repelling properties and are best suited for water environment like lakes, ponds and sea.
On the other hand, socks are flexible tubes, which are used to control and contain spills on land environment and are ideal for rapidly absorbing water-based or oil-based liquid spills on land. Based on material type, the market has been bifurcated into synthetic, natural organic and natural inorganic. Based on type, the market has been segmented into oil-only, universal and HAZMAT.
Considering the type segment, HAZMAT is anticipated to be one of the largest contributors in the global industrial absorbents market during the forecast period. Stringent regulations in regions like Europe and North America on chemical discharge into the environment are boosting the demand for spill control products. Based on end-use industry, the market has been segmented into chemicals, oil & gas and food processing. Chemicals are hazardous materials and can cause severe harm to humans or environment, if accidentally released or spilled in the environment.
The manufacturers of chemicals need to immediately respond to accidental spills that occur during manufacturing processes to minimize the impact of spills on the environment. Furthermore, regions like Europe and North America have stringent norms with respect to chemicals and spill response. All these factors propel the growth of industrial absorbents in the chemical end-use industry.
Global Industrial Absorbents Market Regional Segmentation
Asia-Pacific industrial absorbents market is expected to register the fastest growth owing to growing awareness and pressure to reinforce strict environmental regulations for spill response and control as well as pollution caused by end-user industries. The industrial absorbents market in Asia-Pacific is driven by the demand from countries like China, India, South Korea and Japan, owing to rapid industrialization and increasing occurrences of small liquid spills across end-user industries.
Competitive Landscape
Some of the leading companies in the global industrial absorbents market are 3M Company, Brady Corporation, Johnson Matthey Plc, Oil-Dri Corporation of America, Ansell Limited, New Pig Corporation, Monarch Green, Inc., DecorUS Europe Ltd. and Meltblown Technologies Inc.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Brand Awareness
4.2. Brand Recall
4.3. Brand Satisfaction
4.4. Factors Influencing Purchase Decision
4.5. Challenges/Issues Faced Post Purchase
4.6. Unmet Needs
5. Global Industrial Absorbents Market Overview
6. Global Industrial Absorbents Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Product (Rolls, Pads, Booms, Socks)
6.2.2. By Material Type (Synthetic, Natural Organic & Inorganic)
6.2.3. By Type (Oil-only, Universal, HAZMAT)
6.2.4. By End-Use Industry (Chemical, Oil & Gas, Food Processing)
6.2.5. By Company
6.2.6. By Region
6.3. Market Attractiveness Index
7. North America Industrial Absorbents Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Product
7.2.2. By Material Type
7.2.3. By Type
7.2.4. By End-Use Industry
7.2.5. By Country
7.3. North America: Country Analysis
7.3.1. United States Industrial Absorbents Market Outlook
7.3.2. Canada Industrial Absorbents Market Outlook
7.3.3. Mexico Industrial Absorbents Market Outlook
8. Europe Industrial Absorbents Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Product
8.2.2. By Material Type
8.2.3. By Type
8.2.4. By End-Use Industry
8.2.5. By Country
8.3. Europe: Country Analysis
8.3.1. Russia Industrial Absorbents Market Outlook
8.3.2. United Kingdom Industrial Absorbents Market Outlook
8.3.3. Norway Industrial Absorbents Market Outlook
8.3.4. Italy Industrial Absorbents Market Outlook
8.3.5. Germany Industrial Absorbents Market Outlook
9. Asia-Pacific Industrial Absorbents Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Product
9.2.2. By Material Type
9.2.3. By Type
9.2.4. By End-Use Industry
9.2.5. By Country
10. Middle East & Africa Industrial Absorbents Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Product
10.2.2. By Material Type
10.2.3. By Type
10.2.4. By End-Use Industry
10.2.5. By Country
11. South America Industrial Absorbents Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Product
11.2.2. By Material Type
11.2.3. By Type
11.2.4. By End-Use Industry
11.2.5. By Country
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles (Leading companies)
14.2.1. Basic Details
14.2.2. Financials (As reported)
14.2.3. Supply Chain Analysis
14.2.4. Key Market Focus and Geographical Presence
14.2.5. Planned Investments
14.2.6. Pricing of Target Types
14.2.7. Market positioning
14.3. Global Players Profiled
14.3.1. 3M Company
14.3.2. Brady Corporation
14.3.3. Oil-Dri Corporation of America
14.3.4. Johnson Matthey Plc
14.3.5. Ansell Limited
14.3.6. New Pig Corporation
14.3.7. Monarch Green, Inc.
14.3.8. DecorUS Europe Ltd.
14.3.9. Meltblown Technologies Inc.
14.3.10. Kimberly Clark Professionals
15. Strategic Recommendations
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