Absorbent Pads Market is demonstrating an extremely competitive business landscape. The leading manufacturers of absorbent pads across the world, such as Novipax LLC, Brady Corp., 3M Co., Oil-Dri Corporation of America, Trico Corp., Sirane Ltd., Prima SRL, and Azapak, have been concentrating on customizing absorbent pads as per consumers’ demand. They are also focusing on increasing their visibility in the global market through strategic collaborations and regional expansions. Over the coming years, these companies are likely to compete on the basis of product differentiations, states the research report.
As per TMR, the worldwide absorbent pads market is expected to report a rise at a CAGR of 5.10% during the period from 2019 to 2027. Absorbent pads are mainly produced using polypropylene, polyethylene, paper, and fiber. Universal absorbent pads, oil absorbent pads, chemical absorbent pads, and hazmat absorbent pads are the key products available in the global adsorbent pads market. These absorbent pads find significant demand in the food, agriculture, medical, oil and gas, chemical, and the automotive industries.
In terms of the geography, the global absorbent pads market registers its presence across North America, Europe, Asia Pacific excluding Japan (APEJ), Japan, Latin America, and the Middle East and Africa (MEA). Currently, North America holds the most prominent position in the absorbent pads market across the world. With continued application of absorbent pads for keeping food products fresh and hygienic, this regional absorbent pads market is expected to remain on the top over the period of the forecast.
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On the other hand, the ongoing expansion in the food and the chemical industries is projected to fuel the demand for absorbent pads in Asia Pacific excluding Japan. This, in turn, will increase the growth rate of APEJ absorbent pads market, substantially, in the near future. Other regional absorbent pads markets are also projected to witness a decent growth rate over the years to come, notes the market study.