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Specialty sorbents are specially engineered materials that are generally employed for applications which require absorption and adsorption. Mostly used materials in specialty sorbents are silica, chitosan, carbon black and engineered nanomaterials. They are mostly applicable in areas like cleanup of oils, industrial liquids and chemicals, gas separation and drying, absorption oxygen and moisture. They are pre-dominantly used for environmental cleanups like oil spills and oil leaks in water bodies.
Increasing demand for various specialty sorbents to curb the environmental contamination is one of the prime factor boosting the market growth. Increasing incidents of oil spills & oil leaks and marine pollution is driving the demand for sorbents. Additionally, the increasing use of specialty sorbents in construction for controlling water in cement shall drive the market.
However, there are various alternatives available in market for adsorbing and absorption. This is expected to hinder the market growth.
Key Market Driver -
Increasing awareness regarding environmental contamination.
Key Market Restraint -
Availability of alternatives.
Based on product type, the global specialty sorbents market is segmented into chitosan, carbon black, silica, and nanoengineered materials. Based on application, market is segmented into oil & gas, food & beverages, pharmaceuticals, constructions, environmental, and other applications.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global specialty sorbents market consists of global & regional players operating. Some of the key players in the market include Arkema, BASF, Evonik, Mitsubishi Chemicals Holdings Company, Kolon Industries, Sumitomo Chemicals, Tosoh Corporation, Honeywell, Clariant AG, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to account for the largest market attributed to the increasing demand for water treatment and sludge treatment processes. North America is expected to show significant growth attributed to the growing environmental concerns. Large number of manufacturing base for oil & gas is expected to drive the regional market. Europe is expected to show considerable growth due to the high demand from construction and oil & gas sector. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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