What is the future of Specialty Sorbents Market? Know Covid Impact on Size, Share & Forecasts
July 02, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Specialty Sorbents Market.
It was estimated prior to this unanticipated outbreak that the Specialty Sorbents Market was expected to grow at a CAGR of 8.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Specialty Sorbents can be defined as materials that have the ability to collect molecules through the process of sorption. In other words, it is a material that can absorb, adsorb, or desorb. They are known to have a number of properties such as low density, high hydration degree, crystal structure stability, high physical strength, and others.
Specialty Sorbents can be of different materials such as carbon black, chitosan composites, and engineered nanomaterials. They can be used in different applications such as water separation, petroleum and gas industry, consumer goods, and many others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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 fast growth during the forecast period, owing to upcoming technological advancements in the field of nanotechnology.
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.
In terms of regions, Asia-Pacific dominated the market for specialty sorbents and is also expected to witness high 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.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Specialty Sorbents Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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