Global Spe­cialty Sor­bent mar­ket to reach $1.2 bil­lion by 2022

Chemical Industry Digest - - News & Views -

Spe­cial­ity sor­bents, which are up­graded and mod­i­fied ma­te­ri­als used for spe­cific ab­sorp­tion ap­pli­ca­tions, are a rel­a­tively new prod­uct with high growth po­ten­tial and uses suit­able for a va­ri­ety of en­duse in­dus­tries, ac­cord­ing to a re­port Spe­cialty Sor­bents: Global Mar­kets to 2022 by BCC Re­search.

The global mar­ket for these spe­cialty ab­sorp­tion ap­pli­ca­tions was val­ued at $762 mil­lion in 2016 and is fore­cast to grow by a com­pound an­nual growth rate (CAGR) of 8.3% through 2022, when it will be worth an es­ti­mated $1.2 bil­lion.

Spe­cialty sor­bents are ex­pected to see in­creased use for the con­trol of wa­ter in con­crete, where their ap­pli­ca­tion can in­crease dura­bil­ity and strength. This is im­por­tant, as con­crete plays a ma­jor role in the global con­struc­tion in­dus­try, which is ex­pect­ing an­nual growth at 4.1% an­nu­ally through 2030. The use of spe- cialty sor­bents in wa­ter treat­ment is ex­pected to grow at a CAGR of 9.3% through 2022 when the seg­ment is es­ti­mated to be val­ued at $515 mil­lion.

The spe­cial­ity sor­bent mar­ket is con­sid­ered mod­er­ately frag­mented, and op­por­tu­ni­ties abound for those look­ing to en­ter the mar­ket. Glob­ally, seven of the in­dus­try’s top man­u­fac­tur­ers – BASF SE, Honey­well UOP, Arkema SA, Cabot Corp., Clari­ant AG, W. R. Grace and Cal­gon Car­bon Corp. – ac­counted for nearly 48% of the mar­ket in 2016. While the ma­jor in­ter­na­tional play­ers have man­u­fac­tur­ing and dis­tri­bu­tion net­works that span the globe, these es­tab­lished com­pa­nies face sub­stan­tial com­pe­ti­tion from lo­cal man­u­fac­tur­ers. Cap­i­tal in­vest­ment to en­ter the mar­ket is mod­er­ately low, and there are a large num­ber of both small and medium scale man­u­fac­tur­ers cater­ing to de­mand in lo­cal mar­kets.

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