Asia Pacific Industrial Absorbents Market Forecast to 2028 - Regional Analysis - by Product Type (Pads, Rolls, Pillows, Booms, Socks, and Others), Type (Universal, Oil-Only, and Hazmat/Chemical), and End-Use Industry (Oil and Gas, Chemical, Food Processin

Asia Pacific Industrial Absorbents Market Forecast to 2028- Regional Analysis- by Product Type (Pads, Rolls, Pillows, Booms, Socks, and Others), Type (Universal, Oil-Only, and Hazmat/Chemical), and End-Use Industry (Oil and Gas, Chemical, Food Processing, Healthcare, Automotive, and Others)

The Asia Pacific industrial absorbents market is expected to grow from US$ 1,356.50 million in 2022 to US$ 1,851.54 million by 2028. It is estimated to grow at a CAGR of 5.3% from 2022 to 2028.

Increased Use in Different End-Use Industries Drives Asia Pacific Industrial Absorbents Market

Oil & gas, chemicals, food processing, healthcare, and personal care industries are among the major end users of industrial absorbents. They are used to clean large- and small-scale oil spills in the oil & gas industry. Accidental spillage of oil due to fuel discharge during oil processing, leakage through large-scale offshore petroleum units, mishaps during oil drilling, and oil transportation through oceanic routes can prove as a severe threat to the surrounding environment. Oil spillage worsens the water quality and adversely affects the aquatic ecosystem. A surge in the incidents of oil spillage triggers the demand for industrial absorbents in the oil & gas industry. In the chemicals industry, a chemical spill generally occurs while transporting stored chemicals. Industrial absorbents are broadly used for cleaning such hazardous chemicals. Companies in the Asia Pacific industrial absorbents market are capitalizing on research and development to develop absorbents that soak petroleum products. In the food processing industry, absorbents are used to prevent food ingredients such as meat, fish, or poultry from drying out during storage or transportation while retaining the original flavor and appearance of the product. Therefore, the rising use of industrial absorbents in various end-use industries contributes to market growth.

Asia Pacific Industrial Absorbents Market Overview

Australia, China, India, Japan, and South Korea are the key contributors to the Asia Pacific industrial absorbents market in Asia Pacific. This region has been noticed as one of the prominent markets for the utilization of industrial absorbents owing to growth in chemical, healthcare, food processing, and other sectors. Moreover, government initiatives and policies such as Make-in-India encourage the setup of different manufacturing plants in India. The rise in foreign direct investments also leads to regional economic growth, further bolstering industrialization in the region. High demand for industrial absorbents from manufacturing, food processing, chemical, healthcare, and oil & gas industries also drives the Asia Pacific industrial absorbents market in Asia Pacific. The chemical manufacturing industry is an important part of manufactured exports for several Asian nations, including China, South Korea, India, and Japan. Furthermore, the automobile industry in Asia Pacific has been witnessing healthy growth for the past few years. According to the International Organization of Motor Vehicle Manufacturers (OICA), the Asia-Oceania region's vehicle production increased from 44.2 million in 2020 to 46.7 million vehicles in 2021. The strong growth of the automotive industry in countries such as China, India, Japan, and South Korea further fuels the Asia Pacific industrial absorbents market growth.

Exhibit: Asia Pacific Industrial Absorbents Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Industrial Absorbents Market Segmentation

The Asia Pacific industrial absorbents market is segmented into product type, type, end-use industry, and country.

Based on product type, the Asia Pacific industrial absorbents market is segmented into pads, rolls, pillows, booms, socks, and others. In 2022, the booms segment registered a largest share in the Asia Pacific industrial absorbents market.

Based on type, the Asia Pacific industrial absorbents market is segmented into universal, oil-only, and hazmat/chemical. In 2022, the hazmat/chemical segment registered a largest share in the Asia Pacific industrial absorbents market.

Based on end-use industry, the Asia Pacific industrial absorbents market is segmented into oil and gas, chemical, food processing, healthcare, automotive, and others. In 2022, the oil and gas segment registered a largest share in the Asia Pacific industrial absorbents market.

Based on country, the Asia Pacific industrial absorbents market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. In 2022, China segment registered a largest share in the Asia Pacific industrial absorbents market.

3M Co, Ansell Ltd, Brady Corp, Decorus Europe Ltd, Meltblown Technologies Inc, Oil-Dri Corp of America are the leading companies operating in the Asia Pacific industrial absorbents market.

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