At 4.8% CAGR, Asia Pacific Industrial Absorbents Market is Projected to be worth US$ 2,036.35 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific industrial absorbents market was valued at US$ 1,396.21 million in 2023 and is expected to reach US$ 2,036.35 million by 2031, registering a CAGR of 4.8% from 2023 to 2031. Growing environmental concerns concerning chemical and oil spills and increased use in different end-use industries are among the critical factors attributed to drive the Asia Pacific industrial absorbents market growth.

Oil spills are long-lasting environmental disasters with a wide range of impacts. The effects of oil spills can vary, ranging from minimal to serious ones, depending on the magnitude and location of the spillage. Oil can kill surface-dwelling animals and birds by poisoning or suffocating them, or by affecting their buoyancy and natural waterproofing abilities. Contaminated food supplies may lead to the malnourishment of animals, which may be followed by poisoning over time. The damage can be significant if oil spills happen in an area with wildlife. Oil obstructs the insulating ability of fur on mammals and impacts the water-repelling qualities of a bird's feathers. Without insulation or water-repelling qualities, mammals and birds can die from hypothermia. Further, oil and oil products (petroleum products) have many volatile compounds that are emitted as gases. These gases may or may not produce strong chemical odors but can contaminate the surrounding air, which could lead to health risks when exposed to these compounds for a prolonged period. Moreover, once in the air, pollutants can travel over long distances. The original contamination levels at the source and specific weather conditions may dictate the final spread of oil-contaminated air vapors. Oil spills, leading to oil slicks and sheens, also harm the aesthetic appeal and recreational value of coastal waters, shorelines, beaches, wetlands, etc. Serious consequences include the discontinuation of recreational activities in these areas, at least temporarily, until the spill is removed and the cleanup process is completed. The effects of oil spills are not only limited to the environment; the incidences may have immediate effects on humans, fish, animals, birds, and wildlife, in general, if they come in direct contact with the spilled oil, breathe in volatilized oil components, consume food contaminated at any level in the food chain, and so on. Governments of various countries have implemented regulations concerning oil and chemical spills. Therefore, growing concerns about the environment and the associated regulations to prevent oil spills bolster the demand for industrial absorbents across the world.

On the contrary, the fluctuating raw material prices hampers the growth of Asia Pacific industrial absorbents market.

Based on product type, the Asia Pacific industrial absorbents market is segmented into pads, rolls, pillows, booms, socks, and others. The booms segment held 29.5% market share in 2023, amassing US$ 412.50 million. It is projected to garner US$ 613.62 million by 2031 to register 5.1% CAGR during 2023–2031.

In terms of type, the Asia Pacific industrial absorbents market is categorized into universal, oil-only, and hazmat/chemical. The hazmat/chemical segment held 42.0% share of Asia Pacific industrial absorbents market in 2023, amassing US$ 586.45 million. It is anticipated to garner US$ 869.17 million by 2031 to expand at 5.0% CAGR during 2023–2031.

By end-use industry, the Asia Pacific Industrial Absorbents market is segmented into oil & gas, chemical, food processing, healthcare, automotive, and others. The oil & gas segment held 39.6% share of Asia Pacific industrial absorbents market in 2023, amassing US$ 553.29 million. It is projected to garner US$ 664.88 million by 2031 to expand at 2.3% CAGR from 2023 to 2031.

Based on country, the Asia Pacific industrial absorbents market is segmented into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 55.8% share of Asia Pacific industrial absorbents market in 2023. It was assessed at US$ 779.00 million in 2023 and is likely to hit US$ 1170.03 million by 2031, registering a CAGR of 5.2% during 2023–2031.

Key players operating in the Asia Pacific industrial absorbents market are 3M Co, Ansell Ltd, Brady Corp, Oil-Dri Corp of America, SpillTech Environmental Inc, and New Pig Corp, among others.

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