Global Adsorbents Market
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Global Adsorbents Market Overview
Global adsorbents market size is forecast to reach US$7.7 billion by 2027 after growing at a CAGR of 6.3% during 2022-2027. Adsorbents are used to remove pollutants from oil and gas streams in the oil and gas sector and are also increasingly being used in the gas drying process. By 2023, the Indian government plans to set up around 5,000 compressed biogas (CBG) plants. In addition, to double the natural gas output to 60 bcm, the government plans to invest US$2.86 billion in upstream oil and gas production. By 2035, the Brazilian government is targeting to increase its oil production by 70 percent. Therefore, the expansion of major end-use industries such as oil and gas, chemicals, and petrochemicals, particularly in the Asia Pacific, the Middle East, and Latin America, is increasing demand for adsorbents. In addition, growing environmental concerns about the risks posed by wastewater have prompted regulatory agencies in several countries to mandate the usage of adsorbents.
The COVID-19 outbreak caused economic problems and challenges for a variety of industries such as oil and gas, petrochemicals, chemicals, and others. A drop in business for at least five months in 2020, combined with lower demand from a few markets, put pressure on adsorbents manufacturers and vendors. Also, various governments announced strict measures to slow the spread of the coronavirus, owing to which the production output growth slowed down in various industries causing widespread concern and economic hardship for the adsorbents market. For instance, according to the International Energy Agency (IEA), worldwide energy demand fell by -3.8 percent in the first quarter of 2020. Moreover, according to the Drilling Productivity Report Supplement published by U.S. Energy Information Administration, U.S. crude oil production shrank sharply in April 2020, by 5.8 percent month over month and 16.6 percent in May. However, the industries have been on a recovery path since 2021. As various firms around the world adopted various strategies to put this behind them, pointing to a probable economic recovery in 2021. For instance, according to American Chemistry Council, in the U.S, total chemical production volume fell by 3.6 percent in 2020 but is expected to rise by 2.7 percent in 2022. Therefore, the growth in these industries also indicates a fast recovery in the adsorbents market.
The report: "Global Adsorbents Market - Forecast (2022 - 2027)", by IndustryARC, covers an in-depth analysis of the following segments of the global adsorbents industry.
By Type: Activated Alumina, Activated Charcoal, Activated Clay, Silica Gel, Metal Oxides, Polymer Adsorbents, Zeolites (Molecular Sieves) (Type 3A, Others), and Others
By Form: Powder, Flakes, and Others
By End-Use Application: Oil and Gas Industry (Natural Gas Purification, Gasoline, Diesel and Jet Fuel Production, Others), Petrochemical Industry (Ethylene Production, Propylene Production, Xylene Separation, Others), Chemical Industry (Industrial Gases, CASE (Coatings, Sealants, Adhesives, and Elastomers), Others), Automotive and Transportation, Pharmaceutical and Food, Water Treatment, Nuclear Waste Remediation, Refrigerant (Commercial, Industrial), Building & Construction, Personal Care and Cosmetic, and Others
By Geography: North America (U.S.A., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Denmark, Poland, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East and Africa)
Global Adsorbents Market Segment Analysis - By Type
The zeolites segment held the largest share in the global adsorbents market in 2021. Zeolites have a high degree of hydration, which results in a stable low-density crystal structure with a large void volume. Zeolites have been employed as an adsorbent in non-technically demanding, non-regenerative applications over the past two decades. New lightweight cementing methods for oil and gas completions to new modified zeolite adsorbents for extracting metals or organics from water are just a few of the new inventive applications. Systems for zeolite gas treatment, pressure swing adsorption, smell control, and other specific applications are being developed. Inorganic adsorbents, particularly for environmental applications, industrial gas production, and specialized chemicals, are the most valuable applications for zeolites and synthesized zeolites. Thus, the rising usage of zeolites in various applications, have uplifted the global adsorbents market growth, in the forecast period.
Global Adsorbents Market Segment Analysis - By End-Use Application
The petrochemical industry held the largest share in the market in 2021 and is expected to grow at a CAGR of 7.4% during 2022-2027. Adsorbents are utilized in the petrochemical industry to remove trace contaminants such as water and sulphur in the feed, intermediate, and product streams, for the smooth operation of the plant. The usage of the right adsorbent is necessary for the petrochemical plants due to the reactivity of ethylene plant streams. In the petrochemical industry, adsorbents are used for the effective removal of a wide range of contaminants from olefin-containing streams, complete system solutions for the treatment of off-gas streams from catalytic crackers (FCC, DCC, CPP) and acetylene producing units, and long lifetime and easy operability. The surging demand for adsorbents is due to the rising investments in its end use industry such as petrochemical industry. For instance, according to the Indian Brand Equity Foundation, under the Union Budget 2021-22, the government allocated Rs. 233.14 crore (US$ 32.2 million) to the department of chemicals and petrochemicals. Furthermore, according to Alberta's Industrial Heartland Association, the petrochemical sector in Alberta has the potential to increase by more than US$30 billion by 2030. Thus, the rising investments in the petrochemical industry of various countries will raise the usage of adsorbents to produce cleaner feedstocks, intermediate, and product streams, and will further drive the growth of the adsorbents market over the forecast period.
Global Adsorbents Market Segment Analysis - By Geography
Asia-Pacific region dominated the global adsorbents market in terms of revenue with a share of 38% in 2021 and is projected to dominate the market during the forecast period 2022-2027. The growing demand for adsorbents, along with the high purchasing power in countries such as China, India, and Japan, tends to become a potential market for adsorbents during the forecast period. The surging adoption of adsorbents in the petrochemical, oil, and gas, and other sectors are driving the adsorbents market in China. Currently, several initiatives taken by organizations for the development of new petrochemical plants in the country have increased the demand for adsorbents. For instance, in March 2021, SK Global Chemical (SKGC) agreed to establish a 40,000-tonne-per-year ethylene (C2) acrylic acid (EAA) factory in Lianyungang, Eastern China, with Chinese company Zhejiang Satellite. In developed country such as Japan, the rising product expansion for adsorbents such as silica gel and others has raised the growth of the market. For illustration, in October 2021, with the help of a new production line at its plant in Ako, Japan, DSL Japan, a joint venture between Evonik and Shionogi, expects to increase its specialty silica solutions including gel types by 30%. In Japan, the accelerating usage of adsorbents in the pharmaceutical and food sector is anticipated to raise market growth in the forecast period. For instance, Bushu Pharmaceuticals unveiled a new plan to expand its pharmaceutical facility in Misato, Japan, with an investment of US$ 100 million in August 2020. Thus, such expansions will drive the demand for adsorbents and further raise the growth of the market in the forecast period.
Global Adsorbents Market Drivers
Strict Government Regulations Governing Pharmaceutical Product Manufacture, Hygiene, And Quality Control Are Boosting Demand for Adsorbents
Pharmaceutical companies are putting a greater emphasis on quality control, which includes the use of adsorbents in procedures like instrument drying, drying of air-synthesis products, and deodorization. Several types of adsorbents are utilized in the pharmaceutical sector, with a selection depending on the application requirement. Activated carbon, for instance, is used to remove contaminated or by-products during the drug formulation process, whereas activated alumina is used to recover Pyrogen-free pharmaceuticals and as a desiccant for drying air and industrial gases. Also, silica Gel is also employed in column chromatography as a pharmaceutical adsorbent, where it assists in the separation or collection of various medication components. Even slight contamination during product manufacture might cause serious health problems in the pharmaceutical sector. Therefore, more focus is placed on proper quality control in these businesses to ensure that the products meet the necessary product standards. Regulations mandating the use of adsorbents in the pharmaceuticals sector such as, by the United States Pharmacopeia (USP), Japanese Pharmacopeia (JP), and so on are also influencing the adsorbents market growth in the pharmaceutical sector. For instance, according to the Indian Economic Survey 2021, the domestic market is expected to grow 3x in the next decade. India's domestic pharmaceutical market is likely to reach US$65 billion by 2024 and ~US$ 120-130 billion by 2030. This will further influence the adsorbents market.
Global Adsorbents Market Challenges
Reduced Shelf Life Due to High Level of Impurities Will Hamper the Market Growth
Although adsorbent materials can attract molecules to their surfaces, this ability is limited. Once the capacity has been reached, continued refining and purification will produce an equilibrium, which will lead to desorption. Adsorbents are utilized for adsorption of various pollutants and impurities such as carbon dioxide or hydrogen sulphide, mercaptans, manufacturing chemicals, and hydrate inhibitors in refining and purifying processes. The current contaminants react with the adsorbents at this point, causing the adsorbent to regenerate. These pollutants either renew or eliminate the adsorbent. The service life of adsorbents is determined by the material's regeneration capacity, which could be a stumbling block for the overall adsorbents market.
Global Adsorbents Industry Outlook
Polymeric Adsorbents Market - Forecast (2021 - 2026)
Report Code: CMR 65172
North America & Asia Pacific Adsorbents Market - Forecast (2021 - 2026)
Report Code: CMR 1317
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