Asia Pacific Industrial Absorbents Market Forecast to 2031 - Regional Analysis - by Product Type, Type, and End-use Industry

Description

List of Tables

The Asia Pacific industrial absorbents market was valued at US$ 1,396.21 million in 2023 and is expected to reach US$ 2,036.35 million by 2031; it is estimated to register a CAGR of 4.8% from 2023 to 2031.

Expansion of Oil & Gas and Chemicals Industries in Progressing Economies Fuels Asia Pacific Industrial Absorbents Market

According to the International Energy Agency (IEA), Asia Pacific accounted for 8% of the world's crude oil production, with a total of 14,872.67 gigajoules of crude oil produced in 2021. China and India have been leading contributors to the total oil production in the region. According to the US Energy Information Administration, China is the world's fifth-largest oil-producing country. Although Asia has seen a slow but steady decline in its share in global oil production, it is expected to account for ~77% of the rise in world oil demand through 2025. Moreover, its reliance on oil imports would increase to 81% by 2025. China is also a hub for chemical processing, and it accounts for a significant portion of the chemicals produced globally. The country contributes to more than 35% of global chemical sales. Many major companies have their chemical plants in China. With the growing demand for various chemicals globally, this industry is scaling up its production operations, which would bolster the demand for industrial absorbents during the forecast period.

According to Invest India, India is the third largest consumer of energy and oil in the world. The crude oil and petroleum products consumption in India accounted for 223.04 million metric tons in fiscal year 2023. Thus, the oil & gas industry in the country has been flourishing, with players making investments to ramp up production volumes to cater to the burgeoning demand. The Government of India has approved an order allowing 100% foreign direct investment (FDI) in sectors including petroleum products, refineries, and natural gas under automatic route for oil & gas public sector undertakings. The oil & gas industry in India is expected to gather investments of US$ 25 billion in exploration and production by the end of 2024. The chemical processing industry in the country is highly diversified and manufactures more than 70,000 products. The country stands third among the largest chemical producers in Asia, in terms of volume, and it ranks seventh by output globally. According to the India Brand Equity Foundation, the chemicals industry in India is growing rapidly. India is the fourth-largest producer of agrochemicals after the US, Japan, and China. India accounts for ~16% of the world's dyestuffs and dye intermediates produced. The colorants industry in the country has emerged as a business with a global market share of ~15%. With such a flourishing chemicals sector, the demand for industrial absorbents is expected to increase in India over the coming years.

Thus, such developments in the oil & gas and chemicals industries in emerging countries are likely to create significant expansion opportunities for companies operating in the industrial absorbents market during the forecast period.

Asia Pacific Industrial Absorbents Market Revenue and Forecast to 2031 (US$ Million)

Asia Pacific Industrial Absorbents Market Segmentation

The Asia Pacific industrial absorbents market is categorized into product type, type, end-use industry, and country.

Based on product type, the Asia Pacific industrial absorbents market is segmented into pads, rolls, pillows, booms, socks, and others. The booms segment held the largest market share in 2023.

In terms of type, the Asia Pacific industrial absorbents market is categorized into universal, oil-only, and hazmat/chemical. The hazmat/chemical segment held the largest market share in 2023.

By end-use industry, the Asia Pacific Industrial Absorbents market is segmented into oil & gas, chemical, food processing, healthcare, automotive, and others. The oil & gas segment held the largest market share in 2023.

By country, the Asia Pacific industrial absorbents market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific industrial absorbents market share in 2023.

3M Co, Ansell Ltd, Brady Corp, Oil-Dri Corp of America, SpillTech Environmental Inc, and New Pig Corp, are among the leading companies operating in the Asia Pacific industrial absorbents market.

Product Code: BMIRE00028506

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Macro-economic factor analysis:
- 3.2.2 Developing base number:
- 3.2.3 Data Triangulation:
- 3.2.4 Country level data:
3.3 Limitations and Assumptions

4. Asia Pacific Industrial Absorbents Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Threat of New Entrants:
- 4.2.2 Bargaining Power of Buyers:
- 4.2.3 Bargaining Power of Suppliers:
- 4.2.4 Threat of Substitutes:
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers:
- 4.3.2 Manufacturers:
- 4.3.3 Distributors or Suppliers:
- 4.3.4 End-Use Industry:

5. Asia Pacific Industrial Absorbents Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Increased Use in Different End-Use Industries
- 5.1.2 Growing Environmental Concerns Concerning Chemical and Oil Spills
5.2 Market Restraints
- 5.2.1 Fluctuating Raw Material Prices
5.3 Market Opportunities
- 5.3.1 Expansion of Oil & Gas and Chemicals Industries in Progressing Economies
- 5.3.2 Growing Demand for Absorbent Products Tailored for Emergency Preparedness
5.4 Future Trends
- 5.4.1 Biodegradable Absorbents
5.5 Impact of Drivers and Restraints:

6. Industrial Absorbents Market - Asia Pacific Analysis

6.1 Industrial Absorbents Market Revenue, 2021-2031 (US$ Million)
6.2 Industrial Absorbents Market Forecast Analysis

7. Asia Pacific Industrial Absorbents Market Analysis - by Product Type

7.1 Pads
- 7.1.1 Overview
- 7.1.2 Pads: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Rolls
- 7.2.1 Overview
- 7.2.2 Rolls: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Pillows
- 7.3.1 Overview
- 7.3.2 Pillows: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Booms
- 7.4.1 Overview
- 7.4.2 Booms: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
7.5 Socks
- 7.5.1 Overview
- 7.5.2 Socks: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
7.6 Others
- 7.6.1 Overview
- 7.6.2 Others: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)

8. Asia Pacific Industrial Absorbents Market Analysis - by Type

8.1 Universal
- 8.1.1 Overview
- 8.1.2 Universal: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Oil-Only
- 8.2.1 Overview
- 8.2.2 Oil-Only: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Hazmat/Chemical
- 8.3.1 Overview
- 8.3.2 Hazmat/Chemical: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)

9. Asia Pacific Industrial Absorbents Market Analysis - by End-use Industry

9.1 Oil & Gas
- 9.1.1 Overview
- 9.1.2 Oil & Gas: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Chemical
- 9.2.1 Overview
- 9.2.2 Chemical: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Food Processing
- 9.3.1 Overview
- 9.3.2 Food Processing: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Healthcare
- 9.4.1 Overview
- 9.4.2 Healthcare: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
9.5 Automotive
- 9.5.1 Overview
- 9.5.2 Automotive: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
9.6 Others
- 9.6.1 Overview
- 9.6.2 Others: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)

10. Asia Pacific Industrial Absorbents Market - Country Analysis

10.1 Asia Pacific Industrial Absorbents Market Overview
- 10.1.1 Asia Pacific: Industrial Absorbents Market Breakdown, by Key Country, 2023 and 2031 (%)
  - 10.1.1.1 Asia Pacific: Industrial Absorbents Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.2 Australia: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.2.1 Australia: Industrial Absorbents Market Breakdown, by Product Type
    - 10.1.1.2.2 Australia: Industrial Absorbents Market Breakdown, by Type
    - 10.1.1.2.3 Australia: Industrial Absorbents Market Breakdown, by End-use Industry
  - 10.1.1.3 China: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.3.1 China: Industrial Absorbents Market Breakdown, by Product Type
    - 10.1.1.3.2 China: Industrial Absorbents Market Breakdown, by Type
    - 10.1.1.3.3 China: Industrial Absorbents Market Breakdown, by End-use Industry
  - 10.1.1.4 India: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.4.1 India: Industrial Absorbents Market Breakdown, by Product Type
    - 10.1.1.4.2 India: Industrial Absorbents Market Breakdown, by Type
    - 10.1.1.4.3 India: Industrial Absorbents Market Breakdown, by End-use Industry
  - 10.1.1.5 Japan: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.5.1 Japan: Industrial Absorbents Market Breakdown, by Product Type
    - 10.1.1.5.2 Japan: Industrial Absorbents Market Breakdown, by Type
    - 10.1.1.5.3 Japan: Industrial Absorbents Market Breakdown, by End-use Industry
  - 10.1.1.6 South Korea: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.6.1 South Korea: Industrial Absorbents Market Breakdown, by Product Type
    - 10.1.1.6.2 South Korea: Industrial Absorbents Market Breakdown, by Type
    - 10.1.1.6.3 South Korea: Industrial Absorbents Market Breakdown, by End-use Industry
  - 10.1.1.7 Rest of APAC: Industrial Absorbents Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.7.1 Rest of APAC: Industrial Absorbents Market Breakdown, by Product Type
    - 10.1.1.7.2 Rest of APAC: Industrial Absorbents Market Breakdown, by Type
    - 10.1.1.7.3 Rest of APAC: Industrial Absorbents Market Breakdown, by End-use Industry

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Mergers and Acquisitions
12.3 Product Launch
12.4 Expansions and Other Strategic Developments

13. Company Profiles

13.1 3M Co
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Ansell Ltd
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Brady Corp
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Oil-Dri Corp of America
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 SpillTech Environmental Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 New Pig Corp
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments

14. Appendix

14.1 About The Insight Partners