Specialty sorbents market is likely to witness an impressive CAGR of 8.5% during the forecast period. The extensive use of sorbents in industries, such as petroleum & gas, pharmaceutical, food & beverage is the prime factor that drives the specialty sorbents market globally. Further, increasing investment in municipal and industrial infrastructure in the developing economies along with the expanding global construction industry are likely to boost the growth of the global specialty sorbents market.
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Specialty Sorbents Market Segment Insights:
By Material Type:
Based on the material type, the market is segmented as carbon black, chitosan, and engineered nanomaterials. The chitosan segment dominated the market and is expected to remain dominant during the forecast period as well. Engineered nanomaterials are expected to witness the fastest growth during the forecast period, owing to upcoming technological advancements in the field of nanotechnology.
By Application Type:
Based on the application type, the market is segmented as air separation & drying, petroleum & gas industry, consumer goods, water treatment, and others. Water treatment is expected to remain the dominant application for specialty sorbents during the forecast period, owing to rising concern towards water and wastewater treatment and increased spending towards municipal and industrial infrastructure in emerging economies to meet freshwater scarcity.
By Region:
In terms of regions, Asia-Pacific dominated the market for specialty sorbents and is also expected to witness the highest growth during the forecast period. Substantial economic development in the region along with increased spending towards municipal and industrial infrastructure are the major factors that have led to the dominance of Asia-Pacific in the global specialty sorbents market.
Key Players:
Some of the major players in the global specialty sorbents market are Arkema SA, Axens SA, BASF SE, Cabot Corporation, Calgon Carbon Corporation, Clariant AG, The Dow Chemical Company, Evonik Industries AG, Graver Technologies LLC, Haycarb PLC, and Honeywell UOP.
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