At 3.1% CAGR, South & Central America Industrial Absorbents Market is Projected to be worth US$ 236.27 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the South & Central America industrial absorbents market was valued at US$ 184.54 million in 2023 and is expected to reach US$ 236.27 million by 2031, registering a CAGR of 3.1% from 2023 to 2031. Biodegradable absorbents and growing environmental concerns concerning chemical and oil spills are among the critical factors attributed to drive the South & Central America industrial absorbents market growth.

With burgeoning microplastic pollution and increasing awareness about environmental sustainability, there is a rising demand for biodegradable absorbents made from natural and organic materials. Conventional industrial absorbents are made of polyethylene, polypropylene, and polyurethane, which are effective in cleaning oil and other liquid spills; however, they end up in landfills, potentially leaching harmful chemicals and microplastics into the environment over time. Therefore, manufacturers are developing sustainable alternatives that help in the effective cleanup of spills while being less hazardous to the environment. For instance, in August 2023, EarthSafe expanded its portfolio of spill containment products by introducing FlashDry coir absorbent, which is sustainable and made from 100% organic husks. It is classified as a universal hazmat absorbent that works for all kinds of spills. Its hydrophobic and oleophilic properties make it ideal for various industrial spills, such as automotive fluids, lubricants and degreasers, marine oil spills, paints, chemicals, and resins. Such products are trending in the industrial absorbents market and are expected to witness tremendous demand in the coming years. The companies in the industrial absorbents market are also looking for innovative natural materials to develop lightweight absorbents. Industrial absorbents made with natural materials help manufacturing companies comply with environmental regulations. These absorbents are being extensively used to clean hazardous hydrocarbon oil spills in the most environment-friendly way. Thus, companies in the industrial absorbents market are significantly investing in research and development to develop eco-friendly absorbents that soak petroleum products.

On the contrary, the fluctuating raw material prices hampers the growth of South & Central America industrial absorbents market.

Based on product type, the South & Central America industrial absorbents market is segmented into pads, rolls, pillows, booms, socks, and others. The booms segment held 31.9% market share in 2023, amassing US$ 58.84 million. It is projected to garner US$ 76.59 million by 2031 to register 3.4% CAGR during 2023–2031.

In terms of type, the South & Central America industrial absorbents market is categorized into universal, oil-only, and hazmat/chemical. The hazmat/chemical segment held 47.6% share of South & Central America industrial absorbents market in 2023, amassing US$ 87.88 million. It is anticipated to garner US$ 113.58 million by 2031 to expand at 3.3% CAGR during 2023–2031.

By end-use industry, the South & Central America Industrial Absorbents market is segmented into oil & gas, chemical, food processing, healthcare, automotive, and others. The oil & gas segment held 45.4% share of South & Central America industrial absorbents market in 2023, amassing US$ 83.81 million. It is projected to garner US$ 99.82 million by 2031 to expand at 2.2% CAGR from 2023 to 2031.

Based on country, the South & Central America industrial absorbents market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 47.6% share of South & Central America industrial absorbents market in 2023. It was assessed at US$ 87.90 million in 2023 and is likely to hit US$ 114.51 million by 2031, registering a CAGR of 3.4% during 2023–2031.

Key players operating in the South & Central America industrial absorbents market are 3M Co, Ansell Ltd, Brady Corp, TOLSA SA, SpillTech Environmental Inc, and New Pig Corp, among others.

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