The global adsorbents market size is estimated to grow from USD 4.1 billion in 2021 to USD 5.6 billion by 2026, at a CAGR of 5.9% during the forecast period. The driving factors for the adsorbents industry is the industry growth is backed by the large-scale developments in oil & gas processing and socio-economic advancements such as the increased use of adsorbents in maintaining purity standards in various applications and because of environmental concerns.
Molecular Sieves is the fastest-growing application segment in the Adsorbents market. The growth in this segment is attributed to the growing use of adsorbents in petroleum refining. Molecular sieves are often utilized in the petroleum industry, especially for the purification of gas streams and in the chemistry laboratory for separating compounds and drying materials. There are four main types of molecular sieves: 3A, 4A, 5A, and 13X. The type is dependent on the molecule’s chemical formula, and it determines the pore size of the molecular sieve. It accounted for a share of about 38.56% of the Adsorbents market, in terms of value, in 2020.
Arkema SA(France), Honeywell International Inc(US), Axens(France), BASF SE (Germany), Cabot Corporation(US), Clariant AG (Switzerland), W.R. Grace & Co.(US) among others, are the leading adsorbents manufacturers, globally. These companies adopted new product launch, and agreements & contracts as their key growth strategies between 2019 and 2021 to earn a competitive advantage in the adsorbents market.
Arkema SA is one of the largest player in the adsorbents market. The company provides 3D printing, adhesives and sealants, automotive and transportation, building and construction, coatings, paints and inks, composites and advanced materials, electronics, and electrical, oil and gas, renewable energies and energy storage, and sport and leisure products. It offers products under various brands such as Sartomer’s N3xtDimension resins, Rilsan, Pebax, Luperox, Kynar, and Sartomer. The company serves the automotive, agriculture, chemicals, consumer goods, construction, electrical, oil, health, and packaging industries. It has operations across APAC, Europe, Africa and the Middle East, and the Americas. The company is headquartered in Colombes, France.
Honeywell International Inc is the second-largest player of the adsorbents market, globally. The company offers aerospace products and services; turbochargers; energy-efficient products and solutions for homes, businesses and transportation; specialty chemicals; electronic and advanced materials; process technology for refining and petrochemicals, and productivity, management and technical services sensing, energy and security, safety and security technologies for buildings, homes, and industries. Honeywell UOP is a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. Honeywell UOP is a part of Honeywell’s Performance Materials and Technologies strategic business group, which also includes Honeywell Process Solutions, a pioneer in automation control, instrumentation, and services for the oil & gas, refining, petrochemical, chemical, and other industries.
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