Industrial Absorbents Market to Register Substantial Expansion by 2026

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Industrial Absorbents Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2027

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Global Industrial Absorbents Market Key
Highlights

• According to a report published by the U.S.
  National Oceanic and Atmospheric Administration
  (NOAA) in 2018, around 137 oil spills occurred
  during 2018, which implied approximately 11
  spills per month. The consumption of industrial
  absorbents is directly proportional to the number
  of oil spills.
• In terms of demand, Asia Pacific led the
  global industrial absorbents market in 2018, and
  the trend is anticipated to continue
  from 2019 and 2027. The oil gas industry in
  Asia Pacific is projected to expand at a CAGR of
  nearly 4 during the forecast period.
• The demand for industrial absorbents in China is
  projected to rise at a CAGR of 4 from 2019 and 2
  027. 

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Global Industrial Absorbents Market Key Drivers
and Opportunities

• The demand for industrial absorbents has
  increased over the last few years. The trend is
  expected to continue during the forecast period
  also. This growth can be attributed to rise in
  the incidence of oil and fuel spills in waters
  and on land.
• Major players operating in the global industrial
  absorbents market, such as 3M Company, Brady
  Corporation, and Oil-Dri Corporation of America,
  are expanding their presence in Asia Pacific in
  order to tap immense opportunities in the region.
• Growing environment-related regulations about
  oil and chemical spills at workplaces is one of
  the key factors boosting the global industrial
  absorbents market.
• The use of industrial absorbents aids in
  complying with various state and federal
  regulations, such as the OSHA regulation.

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Asia Pacific to be Highly Lucrative Region of
Global Industrial Absorbents Market

• In terms of value, North America held a major,
  i.e. more than 35 share of the global industrial
  absorbents market in 2018.
• Expanding oil gas industry and rising demand
  for oil spill absorbent products are major
  factors anticipated to drive the industrial
  absorbents market in Asia Pacific during forecast
  period.
• Rising environment-related awareness and
  stringent government regulations regarding
  workplace safety and discharge of industrial
  effluents are the key factors propelling the
  demand for industrial absorbents across the
  globe.
• The industrial absorbents market in Asia Pacific
  is anticipated to expand at a high CAGR during
  the forecast period. 

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Global Industrial Absorbents Market Competition
Landscape

• 3M Company
• Brady CorporationOil-Dri Corporation of America
• Ansell
• EP Minerals
• Johnson Matthey
• Meltblown Technologies
• Chemtex Inc.
• Absorbent Products Ltd.
• Monarch Green, Inc.

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