Press Release

Petroleum Refining Industry to Lead Global Adsorbents Market till 2024

Rising environmental concerns and regulations coupled with cost-effectiveness of adsorbents to drive global adsorbent market through 2024

According to TechSci Research report, “Global Adsorbent Market By Type, By Application, By Region, Competition, Forecast & Opportunities, 2024”, global adsorbent market is forecast to grow at a CAGR of 6.4% during 2019-2024, reaching $ 4.4 billion by 2024. Key factors expected to drive the market are growing environmental concerns and regulations and cost-effectiveness of adsorbents, which are solid substances used to collect solute molecules from liquids or gases. Adsorption is often used to extract pollutants by causing them to be attached to adsorbents such as activated carbon or silica gel. Adsorbents are porous solids, which bind liquids or gaseous molecules to their surface.

Browse XX market data Figures and Tables spread through 110 Pages and an in-depth TOC on "Global Adsorbents Market"

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Based on type, the market has been segmented into molecular sieves, activated carbon, silica gel, activated alumina, clay and others. Molecular sieves are adsorbents that have very small pores of precise and uniform size. They are the largest material type of adsorbents, used in petrochemicals and air separation and drying applications. Molecular sieves are used in non-cryogenic oxygen production plants to adsorb nitrogen from the air in order to produce high purity oxygen. These molecular sieves have the property of desiccant as well, which performs like an adsorbent. North America dominated global adsorbent market in 2018 and is anticipated to maintain its market dominance in coming years. Countries in the region including the US, Canada and Mexico are witnessing a substantial increase in the use of adsorbents in air separation & drying as well as water treatment applications.

 

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“Petroleum refining industry is the largest consumer of adsorbents, globally. Adsorbents are widely used in the dehydration of alkylation feed and in the feedstock purification to protect isomerization catalysts in refining. These absorbents eliminate numerous varieties of contaminants effectively and economically from several hydrocarbon streams in petroleum refineries through non-regenerative and regenerative adsorbents.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Adsorbent Market By Type, By Application, By Region, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of global adsorbent market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global adsorbent market.

About TechSci Research

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