In a recent published report, Kenneth Research has updated the market report for Specialty Sorbents Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Specialty Sorbents Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Specialty Sorbents Market is estimated to reach $1,602 Million by 2025; growing at a CAGR of 8.2% from 2017 to 2025. Specialty sorbents are materials used to adsorb or absorb liquids or gases. They act as a micro reservoir for chemical constituents that are released under precise conditions which include changes in the chemical structure of temperature, duration, and pore solutions. Applications of specialty sorbents in advanced concrete technology has lessened the challenge of creating beneficial pore systems in concrete to improve its durability. This application has created robust demand for specialty sorbent materials as a strong solution to remain stable irrespective of the uniformity of the concrete. Moreover, specialty sorbents find a variety of application in industries such as food and beverages, pharmaceuticals, oil and gas, and many others.
Major factors to drive the growth of the global specialty sorbents market include development of the construction industry globally, and surging investment in industrial infrastructure. However, lower surface area-to-volume ratio than that of activated carbon is the major drawback for the market growth. Moreover, rising government expenditure on water treatment projects is likely to gain significant impetus in the forthcoming years.
The global specialty sorbents market is segmented into material type, application, and geography. The specialty sorbents market by material type is segmented as chitosan, carbon black, and engineered nanomaterials. On the basis of application, the segment can be divided into petroleum and gas industry, air separation & drying, water treatment, consumer goods, and other applications.
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Based on geography, specialty sorbents market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Russia, Germany, France, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Key players operating in the market include BASF SE, Arkema SA, DOW CHEMICAL CO., Cabot Corp., Honeywell UOP, AXENS SA, W. R. Grace, EVONIK INDUSTRIES AG, Clariant AG, and Calgon Carbon Corp., among others.
The key takeaways from the report
The report will provide detailed analysis of Global Specialty Sorbents Market with respect to major segments such as material type, application, and geography
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Specialty Sorbents Market has been included in the report
Profile of the key players in the Global Specialty Sorbents Market will be provided, which include key financials, product & services, new developments and business strategies
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Scope of the Global Specialty Sorbents Market
Material Type Segments
Air Separation & Drying
Petroleum and Gas Industry
Rest of Europe
Rest of Asia-Pacific
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