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Global Specialty Sorbents Market Is Estimated To Reach $1,602 Million By 2025
Global specialty sorbents market report published by Accurize Market Research forecast that the global market is expected to reach $1,602 Million by 2025; growing at a CAGR of 8.2% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Development in the construction industry across the globe to drive the growth of the market
The development of the construction industry globally fuels the demand for the global specialty sorbents market. Moreover, surging investment in industrial infrastructure also boosts the growth of the market.
The global specialty sorbents market has been bifurcated on the basis of material type, application, and geography. The specialty sorbents market by material type is segmented as chitosan, carbon black, and engineered nanomaterials. On the basis of application, the segment can be divided into the petroleum and gas industry, air separation & drying, water treatment, consumer goods, and other applications.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in the U.S., Canada, and Mexico whereas Europe consists of the UK, Russia, Germany, France, and the Rest of Europe. Asia-Pacific is segmented into China, Japan, India, and the Rest of Asia-Pacific while RoW is bifurcated into South America, the Middle East, and Africa.
“Water treatment accounted for the largest market share in the application segment", says Accurize
By the application segment, water treatment occupied the largest market share and is likely to continue its dominance throughout the forecast period. Similarly, the water treatment segment is also expected to attain the fastest CAGR during the forecast period 2017 – 2025.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, Asia-Pacific was the highest revenue-generating region accounting for 37% of the global specialty sorbents market share. Also, Asia-Pacific is likely to achieve the fastest CAGR during the forecast period, owing to increasing construction investments in the region.
Top players in the market
The key market players include BASF SE, Arkema SA, DOW CHEMICAL CO., Cabot Corp., Honeywell UOP, AXENS SA, W. R. Grace, EVONIK INDUSTRIES AG, Clariant AG, and Calgon Carbon Corp., among others.
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