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Adsorbents Market - Asia-Pacific shows tremendous opportunity
The global adsorbents market is emerging with a positive growth due to the increasing number of applications and materials in different vertical industries such as packaging, oil & gas, water treatment, air separation, and others. There is a continuous need of innovations in applications and products to help sustain the industry and its growth. It will furthermore lower the chances of substitutes development in the market. Therefore, all major companies have created advanced application technology centers for research and development worldwide.
The growing attention towards the protection of human health and environmental risks has promoted various government regulations, which have further resulted in increased consumption of adsorbents in different industries as well as in different regions. In order to meet this demand, innovations are being undertaken to cater to the client and end-user need as per their requirements. The demand for cost-effective adsorbents with better service life has increased in this industry.
The Asia-Pacific market has tremendous opportunities for adsorbents and its applications. This region emerged to be the driving factor for this market, contributing to more than 28% of the global demand. China is the second-largest country in the consumption of adsorbents due to the increased demand from the water treatment, gas refining, and air separation industry. The other emerging economies such as Brazil, India, Russia, etc. are further lined up for the brighter future in this market. BASF, headquartered at Germany, aims to increase its presence in the Asian market particularly in China by increasing its application development capability and global production infrastructure. Recently, they opened an application development center in China to achieve their purpose.
Through organic growth strategies like geographic expansion and new product developments, the companies are opting to expand their adsorbents business worldwide. The major companies operating in this market such as BASF located in Germany, Axens from France, U.S. based UOP, and Clariant (Switzerland) are engaged in bringing innovations in their products as well as enhancing their penetration in the global adsorbents market. Industry players are constantly making efforts to strengthen their adsorbent material development due to tremendous pressure within the industry to be cost effective.
Adsorbents Market by Types (Molecular Sieves, Activated Carbon, Silica Gel, Activated Alumina, Clay, and Others), Applications (Petroleum Refining, Chemicals/Petrochemicals, Gas Refining, Water Treatment, Air Separation & Drying, Packaging, and Others) & Geographies (North America, Europe, APAC, and ROW) - Global Trends and Forecasts to 2018
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