The industrial absorbents market is estimated at USD 3.7 billion in 2018 and is projected to reach USD 4.7 billion by 2023, at a CAGR of 5.1%. This growth is mainly attributed to the high demand for spill control products from the oil & gas and chemical end-use industries to meet environmental standards and regulations.
3M Company (US), Brady Corporation (US), Decorus Europe Ltd. (UK), Johnson Matthey Plc (UK), Kimberly-Clark Professional (US), Meltblown Technologies Inc. (US), Monarch Green, Inc. (US), New Pig Corporation (US), and Oil-Dri Corporation of America (US) are the leading manufacturers of industrial absorbents, globally.
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New Pig Corporation is engaged in the manufacture and sales of absorbent-based spill control products. The company is one of the leading players in the industrial absorbents market. It company offers a wide range of spill control products. New Pig Corporation also has a strong online presence, which makes it more competitive in the industrial absorbents market. The company is focused on the development of new products to sustain in the fragmented market for spill control products. For example, in 2017, it introduced the PIG Forklift Spill Kit for forklift truck and tow motors. This strategy helped the company strengthen its product portfolio for the industrial absorbents market.
3M Company is one of the leading players in the industrial absorbents market. The company has a significant geographic presence with major focus on the US market for industrial absorbents. Over the last few years, the company has significantly invested in the research and development of products, which contributes about 6% of the total revenue of the company in 2017.
Oil-Dri Corporation of America is one of the market leaders in the development, manufacture, and distribution of sorbent products. It is a leading manufacturer and supplier of clay granular absorbents. In addition, the company offers polypropylene and recycled cotton-based absorbents. The industrial absorbents products are used in industrial and automotive applications. The company is also focusing on synthetic absorbents for industrial applications. Oil-Dri Corporation company can expand its product portfolio in end-use industries such as oil & gas and chemicals, which are the important markets for industrial absorbents.
Brady Corporation is engaged in the manufacture and distribution of specialty materials and identification solutions. It has a substantial geographic spread covering the major and emerging markets for industrial absorbents products. The company offers exhaustive product portfolio under its Brady SPC brand. It has low focus and business generation from regions such as Europe, Asia Pacific, and Middle East & Africa, which are the important markets for industrial absorbents
Industrial Absorbents Market By Material Type (Natural Organic & Inorganic, Synthetic), Product (Pads, Rolls, Booms & Socks), Type (Universal, Oil-only, HAZMAT), End-use Industry (Oil & Gas, Chemical, Food Processing), and Region - Global Forecast to 2023
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