Adsorbents have varied industrial applications, due to their high thermal stability, abrasion resistance and smaller pore diameters that result in higher exposed area. Growth in the research and development activities in this market is driving the global adsorbents market. Rising demand for high performance and cost effectiveness of these products is also a strong driver for the increased research and development activities in the market. Growth in the end-user applications and innovative technologies are expected to drive market in terms of revenue, technology and business expansions. As a result, the industry is expected to grow at a steady rate.
Segmentation in Adsorbent Industry
The global adsorbents market is segmented into different types of materials, their applications, and demand across different geographic regions. Analysis of these segments provides details like market trends, sizes, drivers, key competitors and growth opportunities in near future. The materials are sub-categorized into activated alumina, molecular sieves (zeolites), silica gel, clay, activated carbon (activated charcoal) and other products like carbon black, metal oxides, and silica and alumina composites.
Major applications of these products are sub-segmented into water treatment, petroleum refining, air separation and drying, gas refining, packaging, chemical and petrochemical activities, and others like chromatography, refrigeration, mining, fuel cell, and automotive. On the basis of geography, the industry is segmented into North America – Canada, US and Mexico, Asia Pacific – Japan, India and China, Europe – UK, Germany and Italy and the rest of the world – Brazil and Russia.
Drivers and Forecasting Reports
The major driving factors for the adsorbents market include excellent chemical and physical properties of these products, their easily affordable cost, and highly diverse applications. Changing government regulations also play a huge role in the changing demand pattern in this market. Service life and moderate growth in terms of applications of the adsorbents are expected to be the crucial restraints for the industry. However, growing research and development activities are expected to create business prospects for the market.
According to the latest analysis of the segments, drivers, restraints, trends and competitors in the market, the researchers are hoping for a steady growth of this industry. As per the research, the global market is expected to grow at a CAGR of over 6% by 2018. At the estimated growth rate, the market is anticipated to be worth more than $3.8 Billion by the end of the year 2018. North America, including the key countries like US, Mexico and Canada are estimated to dominate the global industry during the forecasting period.