Adsorbents Global Market Report 2024

The adsorbents market size has grown strongly in recent years. It will grow from $4.67 billion in 2023 to $5 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth observed during the historical period can be attributed to several factors, including the emphasis on industrial manufacturing and process optimization, increased attention to environmental regulations and pollution control measures, the growing demand for water treatment and purification solutions, applications in the oil and gas industry, and the rising demand from the pharmaceutical and healthcare sectors. These trends collectively contributed to the expansion of the market during that timeframe.

The adsorbents market size is expected to see strong growth in the next few years. It will grow to $6.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to an increasing focus on sustainable and green technologies, a growing awareness of water scarcity issues, expanding applications in gas separation processes, advancements in the pharmaceutical industry, and the evolution of regulations aimed at air quality control. Notable trends expected in the forecast period encompass the application of adsorbents in industrial gas purification, their utilization in energy storage systems, innovations in adsorbent-based water treatment, market expansion in the Asia-Pacific region, and a rising demand for adsorbents in gasoline and diesel purification processes.

The surge in demand for oxygen concentrators is poised to drive substantial growth within the adsorbents market. Oxygen concentrators, vital for delivering supplemental oxygen to individuals with respiratory challenges, utilize Pressure Swing Adsorption (PSA) technology to adsorb nitrogen from the air, yielding an enriched oxygen stream. During the COVID-19 pandemic, the usage of adsorbents in oxygen concentrators significantly escalated due to the critical need for supplemental oxygen. In February 2021, the World Health Organization and its partners distributed over 30,000 concentrators and 40,000 pulse oximeters and patient monitors to 121 countries, including 37 nations. This upsurge in demand for oxygen concentrators stands as a pivotal driver fueling growth in the adsorbents market.

The expanding footprint of the oil and gas industry is anticipated to propel notable growth in the adsorbents market. Within this sector, adsorbents play a crucial role in purifying and separating hydrocarbons, capturing impurities and contaminants during processing operations. The International Energy Agency forecasts global oil demand to escalate to 105.7 million barrels per day (mb/d) by 2028, indicating a cumulative 6% increase from 2022. This projected expansion within the oil and gas industry is a significant driver propelling the growth trajectory of the adsorbents market.

Product innovation stands out as a pivotal trend shaping the adsorbents market landscape. Key industry players are focused on developing novel solutions to cater to evolving customer demands. In July 2022, BASF SE, a Germany-based company, introduced PuriCycle, a portfolio comprising innovative catalysts and adsorbents. Specifically designed to selectively eliminate or convert a wide range of contaminants in pyrolysis oils, PuriCycle enables downstream processing of circular plastics streams. It facilitates industry compliance standards, ensuring high purification efficiency and upgrading solutions, thus enhancing flexibility in chemical recycling for plastic manufacturing. PuriCycle's application in purifying pyrolysis oils, derived from the chemical recycling of plastic waste, underscores its pivotal role at the onset of the value chain, supporting sustainable practices and innovation in the adsorbents market.

Prominent entities within the absorbents market are actively engaged in developing natural VOC-trapping adsorbents, derived from natural sources, as part of their strategy to gain a competitive advantage. These materials are specifically designed to efficiently capture and eliminate volatile organic compounds (VOCs) from the environment. For instance, in February 2021, Clariant AG, a Swiss multinational specializing in chemicals, introduced DESVOCANT, a novel series of adsorbents meticulously crafted to capture VOCs present in packaging and cargo shipments. Utilizing a naturally occurring bentonite clay mineral with a distinctive surface structure, the DESVOCANT adsorbents undergo a drying process during manufacturing. Sourced in an environmentally conscious manner, these adsorbents offer a non-toxic, natural solution to tackle VOC-related concerns in packaging and cargo transportation.

In October 2022, Clariant AG further expanded its footprint in this domain by acquiring BASF's U.S. Attapulgite business assets for USD 60 million. This acquisition encompasses a long-term supply agreement for attapulgite-based goods to BASF. Attapulgite is integral in producing various attapulgite-based products, including adsorbents. BASF, a German chemical company, operates in the production of chemical solutions. The acquisition significantly enhances Clariant's technological prowess in the purification of edible oils and renewable fuels, consolidating its position as a leader in the absorbents market and underscoring its commitment to technological advancement and innovation.

Major companies operating in the adsorbents market report are Arkema SA, Axens SA, BASF SE, Cabot Corporation, Clariant AG, Calgon Carbon Corporation, Graver Technologies LLC, W.R. Grace & Company, Sorbead India, Adsorbents Carbons, Universal Carbons, Global Absorbents Pvt. Ltd., Honeywell International Inc., Zeolyst International, Ashapura Minechem Ltd., Zeotec Adsorbents Private Limited, Bee Chems, Suneeta Chemicals Pvt. Ltd., Raj Carbon Pvt. Ltd., Dow Inc., Mitsubishi Chemical Corporation, PQ Corporation, DORF KETAL, Zeochem AG, Purolite Ltd., Thermax Limited, Sunresin New Materials Co. Ltd., Lanxess AG, W. R. Grace & Co., Kuraray Co. Ltd.

Asia-Pacific was the largest region in the adsorbents market in 2023. The regions covered in the adsorbents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the adsorbents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of adsorbents available in the market encompass molecular sieves, activated carbon, silica gel, clay, and other variations. Molecular sieves stand out as crystalline metal aluminosilicates featuring a three-dimensional network of silica and alumina tetrahedra. These materials find diverse applications in water treatment, air separation, packaging, gas refining, and various other industrial processes. The end-users benefiting from the use of adsorbents span across pharmaceutical, commercial, industrial, petrochemical, and other sectors.

The adsorbents market research report is one of a series of new reports that provides adsorbents market statistics, including adsorbents industry global market size, regional shares, competitors with a adsorbents market share, detailed adsorbents market segments, market trends and opportunities, and any further data you may need to thrive in the adsorbents industry. This adsorbents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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