March 12, 2018
WELLESLEY, Mass., March 12, 2018– Specialty sorbents, which are upgraded and modified materials used for specific absorption applications, are a relatively new product with high growth potential and uses suitable for a variety of end-use industries, according to a report by BCC Research. With government and regulatory bodies promoting the importance of air and water treatment, demand for these products is expected to be robust through the coming decade.
The global market for these specialty absorption applications was valued at $762 million in 2016 and is forecast to grow by a compound annual growth rate (CAGR) of 8.3% through 2022, when it will be worth an estimated $1.2 billion, according to the report Specialty Sorbents: Global Markets to 2022.
Major players in the market include Arkema, BASF Corp., Cabot Corp., Dow Chemical, Evonik Stockhausen Inc., Graver Technologies Inc., Haycarb PLC, KAO, LG Chem, Mitsubishi Chemical Holdings, NIPPON SHOKUBAI, Purolite, Sanyo Chemical Industries Ltd., Tosoh, W. R. Grace & Co. and ZEOCHEM.
“Usage of sorbents and specialty sorbents is gaining popularity in construction chemicals with the objective of conservation of water and in the removal of contaminants,” wrote BCC Research analyst and report author Sinha G. Gaurav. “The expansion of the global construction industry is projected to be a major driver of the specialty sorbents market. The increasing construction investments in Asia-Pacific and the Middle East coupled with improving reconstruction activities in North America are expected to increase demand for construction chemicals. In addition, the growing importance of water treatment and increasing government spending on water treatment projects are also expected to drive the specialty sorbents market.”
Market Is Moderately Fragmented, With Specialty Sorbent Manufacturers Located Worldwide
The specialty sorbent market is considered moderately fragmented, and opportunities abound for those looking to enter the market. Globally, seven of the industry’s top manufacturers – BASF SE, Honeywell UOP, Arkema SA, Cabot Corp., Clariant AG, W. R. Grace and Calgon Carbon Corp. – accounted for nearly 48% of the market in 2016. While the major international players have manufacturing and distribution networks that span the globe, these established companies face substantial competition from local manufacturers. Capital investment to enter the market is moderately low, and there are a large number of both small and medium scale manufacturers catering to demand in local markets.
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Specialty Sorbents: Global Markets to 2022( AVM152A )
Publish Date: Mar 2018
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