According to a market report by Lucintel, the future of the industrial absorbent market looks promising with opportunities in the material & chemical, food & beverage, automotive, aerospace & defense, oil & gas, and healthcare sectors. The global industrial absorbent market is expected to reach an estimated $5.4 billion by 2028 with a CAGR of 4.7% from 2023 to 2028. The major drivers for this market are increasing stringent regulations focusing on workplace safety, rising adoption of these absorbents in the oil and gas industry, and growing need for environmentally friendly and biodegradable absorbents in industries.
In this market, pad, roll, pillow, granule, boom & sock, and sheets & mat are the major segments of industrial absorbent market by product type. Lucintel forecasts that boom & sock is expected to witness highest growth over the forecast period due to its widespread use in marine environments to control oil-based spills.
Within this market, material & chemical is expected to witness highest growth over the forecast period due to the growing need to reduce the dangers of toxic chemicals and increasing number of chemical spillage at the time of transportation.
APAC is expected to witness highest growth over the forecast period due to the favorable government policies to reduce workplace pollution and spills, continuous expansion of oil and gas sector in India, and presence of major chemical manufacturing hubs in China.
Chemtex, Monarch Green, Ansell, Brady Corporation, Absorbent Products, EP Minerals, and Meltblown Technologies are the major suppliers in the global industrial absorbent market.
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