Global Industrial Absorbents Market is valued at approximately USD 4.13 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.0% during the forecast period 2023-2030. Industrial absorbents are specialized materials crucial for managing spills in industrial environments. These substances, available in various forms such as pads, rolls, socks, and loose granules, are designed to efficiently absorb and contain liquids, including oils, chemicals, and hazardous materials. They cater to different spill scenarios with specific types such as oil-only, universal, and hazmat absorbents. Industrial absorbents help enhance workplace safety, prevent slip hazards and ensuring compliance with environmental regulations. The surge in industrial activity, increasing environmental awareness and the implementation of regulations addressing spills of oil and chemicals, along with the rising incidences of oil and water spills on both land and water bodies are the most prominent factors that are propelling the market demand across the globe.
In addition, the increasing demand from the oil and gas industry is acting as a key factor that is prompting the market expansion. In the oil and gas industry, absorbents play a crucial role in repelling water and selectively absorbing oil and hydrocarbon products. The expansion of oil refineries boosts absorbent demand, driven by the global demand for oil and its by-products. According to Statista, there has been a gradual uptrend in global oil production in 2022, the world witnessed an approximate production of 4.4 billion metric tons of crude oil, which is an increase from the 4.2 billion metric tons recorded in 2021. Similarly, the same source stated that, in 2020, the total investment in oil and gas accounted for around USD 270 billion which is continuously growing and expected to reach USD 307 billion by 2022. Also, the increasing number of drilling operations in North America and the Middle East positively influences market demand, especially in the United States, a key market for drilling services. The Gulf of Mexico has become a significant hub for offshore drilling, with substantial investments in oil and gas production capacity expansion. Moreover, the growth opportunity for reusable industrial absorbent products, as well as the development of new absorbent materials presents various lucrative opportunities over the forecast years. However, the availability of cost-effective substitutes and the health hazards associated with the manufacturing of absorbents are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Industrial Absorbents Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to rapid industrialization has resulted in a surge in manufacturing activities across various end-use industries. Furthermore, the stringent environmental regulations mandated by governments in countries such as China, India, Japan, and South Korea contribute to an increased demand for industrial absorbents. Adhering to these regulations necessitates the application of absorbents to efficiently handle and contain spills and pollutants, ensuring compliance with environmental standards. Whereas, North America is expected to grow with a significant CAGR over the forecast years. The rising awareness regarding environmental protection, ongoing advancements in absorbent technologies, and high growth prospects for reusable industrial absorbent products are significantly propelling the market demand across the region.
Major market players included in this report are:
- 3M Company
- Brady Corporation
- Decorus Europe Ltd.
- Johnson Matthey Plc
- Kimberly-Clark Worldwide, Inc.
- Meltblown Technologies Inc.
- Monarch Green, Inc.
- New Pig Corporation
- Oil-Dri Corporation of America
- Absorbent Products Ltd
Recent Developments in the Market:
- In August 2023, New Pig Corporation, a prominent player in the industrial absorbents products sector, expanded its operations by acquiring a 165,000-square-foot warehouse facility in Altoona from the former US Foods. This strategic initiative aims to support the company's growth initiatives and enhance its capabilities for industrial absorbents' innovation and development.
- In May 2023, 3M allocated a substantial investment of USD 146 million to amplify its support for biotech manufacturing with a specific focus on advancing filtration technology for bioprocessing and pharmaceutical manufacturing. This initiative holds considerable implications for the Industrial Absorbent Market.
- In June 2022, Green Boom, a trailblazing brand specializing in environmentally friendly oil absorbent products, revealed the signing of Memorandums of Understanding (MoUs) with the Investment Promotion Agency Qatar (IPA Qatar) at the second annual Qatar Economic Forum. This significant announcement marked the establishment of Green Boom's presence in the Middle East region, aimed at providing a biodegradable line of oil-only absorbents tailored for extensive spill response, as well as applications in the industrial and transportation sectors.
Global Industrial Absorbents Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Type, Material Type, Product, End-use Industry, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
- Universal
- Oil-Only
- HAZMAT/Chemical
By Material Type:
- Natural Organic
- Natural Inorganic
- Synthetic
By Product:
- Pads
- Rolls
- Pillows
- Granules
- Booms & Socks
- Sheets & Mats
- Others
By End-use Industry:
- Oil & Gas
- Chemical
- Food Processing
- Healthcare
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Industrial Absorbents Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Industrial Absorbents Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Industrial Absorbents Market, by Material Type, 2020-2030 (USD Billion)
- 1.2.4. Industrial Absorbents Market, by Product, 2020-2030 (USD Billion)
- 1.2.5. Industrial Absorbents Market, by End-use Industry, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Industrial Absorbents Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Industrial Absorbents Market Dynamics
- 3.1. Industrial Absorbents Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand from the oil and gas industry
- 3.1.1.2. Rising environmental awareness and the implementation of regulations addressing spills of oil and chemicals
- 3.1.2. Market Challenges
- 3.1.2.1. Availability of cost-effective substitutes
- 3.1.2.2. Health hazards associated with the manufacturing of the absorbents
- 3.1.3. Market Opportunities
- 3.1.3.1. Growth opportunity for reusable industrial absorbent products
- 3.1.3.2. Development of new absorbent materials
Chapter 4. Global Industrial Absorbents Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Industrial Absorbents Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Industrial Absorbents Market by Type, Performance - Potential Analysis
- 5.3. Global Industrial Absorbents Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Industrial Absorbents Market, Sub Segment Analysis
- 5.4.1. Universal
- 5.4.2. Oil-Only
- 5.4.3. HAZMAT/Chemical
Chapter 6. Global Industrial Absorbents Market, by Material Type
- 6.1. Market Snapshot
- 6.2. Global Industrial Absorbents Market by Material Type, Performance - Potential Analysis
- 6.3. Global Industrial Absorbents Market Estimates & Forecasts by Material Type 2020-2030 (USD Billion)
- 6.4. Industrial Absorbents Market, Sub Segment Analysis
- 6.4.1. Natural Organic
- 6.4.2. Natural Inorganic
- 6.4.3. Synthetic
Chapter 7. Global Industrial Absorbents Market, by Product
- 7.1. Market Snapshot
- 7.2. Global Industrial Absorbents Market by Product, Performance - Potential Analysis
- 7.3. Global Industrial Absorbents Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
- 7.4. Industrial Absorbents Market, Sub Segment Analysis
- 7.4.1. Pads
- 7.4.2. Rolls
- 7.4.3. Pillows
- 7.4.4. Granules
- 7.4.5. Booms & Socks
- 7.4.6. Sheets & Mats
- 7.4.7. Others
Chapter 8. Industrial Absorbents Market, by End-use Industry
- 8.1. Market Snapshot
- 8.2. Global Industrial Absorbents Market by End-use Industry, Performance - Potential Analysis
- 8.3. Global Industrial Absorbents Market Estimates & Forecasts by End-use Industry 2020-2030 (USD Billion)
- 8.4. Industrial Absorbents Market, Sub Segment Analysis
- 8.4.1. Oil & Gas
- 8.4.2. Chemical
- 8.4.3. Food Processing
- 8.4.4. Healthcare
- 8.4.5. Others
Chapter 9. Global Industrial Absorbents Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Industrial Absorbents Market, Regional Market Snapshot
- 9.4. North America Industrial Absorbents Market
- 9.4.1. U.S. Industrial Absorbents Market
- 9.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Material Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Product breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. End-use Industry breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Industrial Absorbents Market
- 9.5. Europe Industrial Absorbents Market Snapshot
- 9.5.1. U.K. Industrial Absorbents Market
- 9.5.2. Germany Industrial Absorbents Market
- 9.5.3. France Industrial Absorbents Market
- 9.5.4. Spain Industrial Absorbents Market
- 9.5.5. Italy Industrial Absorbents Market
- 9.5.6. Rest of Europe Industrial Absorbents Market
- 9.6. Asia-Pacific Industrial Absorbents Market Snapshot
- 9.6.1. China Industrial Absorbents Market
- 9.6.2. India Industrial Absorbents Market
- 9.6.3. Japan Industrial Absorbents Market
- 9.6.4. Australia Industrial Absorbents Market
- 9.6.5. South Korea Industrial Absorbents Market
- 9.6.6. Rest of Asia Pacific Industrial Absorbents Market
- 9.7. Latin America Industrial Absorbents Market Snapshot
- 9.7.1. Brazil Industrial Absorbents Market
- 9.7.2. Mexico Industrial Absorbents Market
- 9.8. Middle East & Africa Industrial Absorbents Market
- 9.8.1. Saudi Arabia Industrial Absorbents Market
- 9.8.2. South Africa Industrial Absorbents Market
- 9.8.3. Rest of Middle East & Africa Industrial Absorbents Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. 3M Company
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. Brady Corporation
- 10.3.3. Decorus Europe Ltd.
- 10.3.4. Johnson Matthey Plc
- 10.3.5. Kimberly-Clark Worldwide, Inc.
- 10.3.6. Meltblown Technologies Inc.
- 10.3.7. Monarch Green, Inc.
- 10.3.8. New Pig Corporation
- 10.3.9. Oil-Dri Corporation of America
- 10.3.10. Absorbent Products Ltd
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption