Synthetic Industrial Absorbent Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Synthetic Industrial Absorbent Market Trends and Forecast

The future of the synthetic industrial absorbent market looks promising with opportunities in the material & chemical, food & beverage, automotive, aerospace & defense, oil & gas, and healthcare sectors. The global synthetic industrial absorbent market is expected to reach an estimated $3.1 billion by 2028 with a CAGR of 3.9% from 2023 to 2028. The major drivers for this market are growing environmental awareness towards hazardous chemical, rising demand for effective spill clean up solution in various end use industries, and increasing demand for reusable absorbents across the globe.

Synthetic Industrial Absorbent Market

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Synthetic Industrial Absorbent Market by Segment

The study includes a forecast for the global synthetic industrial absorbent market by product type, type, end use industry, and region, as follows:

Synthetic Industrial Absorbent Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:

• Pads
• Rolls
• Pillows
• Granules
• Booms & Socks
• Sheets & Mats
• Others

Synthetic Industrial Absorbent Market by Type [Shipment Analysis by Value from 2017 to 2028]:

• Polypropylene Absorbent
• Polyester Absorbent

Synthetic Industrial Absorbent Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:

• Materials & Chemicals
• Food & Beverages
• Automotive
• Aerospace & Defense
• Oil & Gas
• Healthcare
• Others

Synthetic Industrial Absorbent Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Synthetic Industrial Absorbent Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies synthetic industrial absorbent companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the synthetic industrial absorbent companies profiled in this report include:

• Tolsa
• Diamix
• Imerys Absorbents
• Hosko
• Sepilosa
• Empteezy
• Bardy

Synthetic Industrial Absorbent Market Insights

• Lucintel forecasts that pad is expected to witness highest growth over the forecast period due to the significant demand for polypropylene based absorbent pads as these are chemically resistant and possess the capability to absorb corrosives, oxidizers, fuels, water, and oil-based liquids.
• Oil and gas is expected to witness highest growth over the forecast period due to the widespread use of synthetic absorbents as hydrophobic and oleophillic for absorbing oil from the surface of water.
• APAC will remain the largest region due to the rapid industrialization and growing demand for advanced absorbent products among various end use industries, such as oil and gas, automotive, and chemical sectors of the region.

Features of the Synthetic Industrial Absorbent Market

• Market Size Estimates: Synthetic industrial absorbent market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Synthetic industrial absorbent market size by various segments, such as by product type, type, end use industry, and region
• Regional Analysis: Synthetic industrial absorbent market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by product type, type, end use industry, and regions for the synthetic industrial absorbent market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the synthetic industrial absorbent market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the synthetic industrial absorbent market size?
• Answer: The global synthetic industrial absorbent market is expected to reach an estimated $3.1 billion by 2028.
• Q2. What is the growth forecast for synthetic industrial absorbent market?
• Answer: The global synthetic industrial absorbent market is expected to grow with a CAGR of 3.9% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the synthetic industrial absorbent market?
• Answer: The major drivers for this market are growing environmental awareness towards hazardous chemical, rising demand for effective spill clean up solution in various end use industries, and increasing demand for reusable absorbents across the globe.
• Q4. What are the major segments for synthetic industrial absorbent market?
• Answer: The future of the synthetic industrial absorbent market looks promising with opportunities in the material & chemical, food & beverage, automotive, aerospace & defense, oil & gas, and healthcare sectors.
• Q5. Who are the key synthetic industrial absorbent companies?
• Answer: Some of the key synthetic industrial absorbent companies are as follows:
  • Tolsa
  • Diamix
  • Imerys Absorbents
  • Hosko
  • Sepilosa
  • Empteezy
  • Bardy
• Q6. Which synthetic industrial absorbent segment will be the largest in future?
• Answer:Lucintel forecasts that pad is expected to witness highest growth over the forecast period due to the significant demand for polypropylene based absorbent pads as these are chemically resistant and possess the capability to absorb corrosives, oxidizers, fuels, water, and oil-based liquids.
• Q7. In synthetic industrial absorbent market, which region is expected to be the largest in next 5 years?
• Answer: APAC will remain the largest region due to the rapid industrialization and growing demand for advanced absorbent products among various end use industries, such as oil and gas, automotive, and chemical sectors of the region.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the synthetic industrial absorbent market by product type (pads, rolls, pillows, granules, booms & socks, sheets & mats, and others), type (polypropylene absorbent and polyester absorbent), end use industry (materials & chemicals, food & beverages, automotive, aerospace & defense, oil & gas, healthcare, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?