(EMAILWIRE.COM, March 06, 2020 ) The report "Industrial Absorbents Market By Material Type (Natural Organic & Inorganic, Synthetic), Product (Pads, Rolls, Booms & Socks), Type (Universal, Oil-only, HAZMAT), End-use Industry (Oil & Gas, Chemical, Food Processing), and Region - Global Forecast to 2023" The industrial absorbents market is expected to grow from USD 3.7 billion in 2018 to USD 4.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period. The major factors driving the industrial absorbents market include growing environmental concerns and regulations regarding oil and chemical spills.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=101269725

“Synthetic segment is expected to grow at the highest CAGR during the forecast period.”

The synthetic segment is expected to be the fastest-growing material type segment in the industrial absorbents market. The industrial absorbents market by material type has been categorized into natural organic, natural inorganic, and synthetic. Synthetic industrial absorbents are capable of absorbing liquid up to 70 times of their weight, which makes them a highly adopted material for industrial applications. Synthetic absorbents have properties such as non-flammability and excellent water repellency, which makes them suitable for applications in oil-only and HAZMAT spill control products.

“Oil & gas segment is expected to hold the largest market share during the forecast period.”

Based on end-use industry, the oil & gas segment is expected to account for the largest share in the industrial absorbents market during the forecast period. Oil spills are caused due to the leakage of liquid hydrocarbon, oil-based liquids, or liquid gases into the environment, which is harmful for human and environmental health. Therefore, to overcome the consequences of spills and to recover and dispose spilled liquids, industrial absorbents products are used by the oil & gas producers. In addition, oil & gas manufacturers involved in downstream, midstream, and upstream operations need to employ spill control products to mitigate the risks associated with the spills.

Don't miss out on business opportunities in Industrial Absorbents Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=101269725

Browse in-depth TOC on "Industrial Absorbents Market”
74 - Market Data Tables
53 - Figures
132 - Pages

“North America is expected to hold the largest market share of the industrial absorbents market during the forecast period.”

North America is estimated to account for the largest share of the market in 2018. The region is an established market for industrial absorbents owing to the stringent regulations framed by environmental bodies such as the EPA for spill control, particularly in oil & gas and chemical end-use industries. In addition, the US and Canada are among the largest producers and consumers of oil & gas products, wherein industrial absorbent products are used to control and remediate spills caused during oil & gas production and distribution activities. This factor has fueled the growth of the industrial absorbents market in North America.

Major manufacturers in the industrial absorbents market include 3M Company (US), Brady Corporation (US), Decorus Europe Ltd. (UK), Johnson Matthey Plc (UK), Kimberly-Clark Professional (US), Meltblown Technologies Inc. (US), Monarch Green, Inc. (US), New Pig Corporation (US), and Oil-Dri Corporation of America (US).

Get this report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=101269725

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.