The adsorbent market will register a CAGR of over 6% by 2023

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NEW YORK, March 19, 2019 — About this market

The global oil and gas refining industry is one of the key end-users of adsorbents. The oil and gas and petrochemical industries are growing at a rapid pace. The rapid growth of the oil and gas and petrochemical industries is expected to encourage the growth of the global adsorbent market during the forecast period. Adsorbents are used in petroleum refineries to eliminate contaminants and undesired compounds from several hydrocarbon streams. Adsorbents are effective and economical when it comes to removing contaminants during petroleum refining. The removal of contaminants is vital in refineries as it prevents the deactivation of downstream petrochemical catalysts and refinery process catalysts. These can be removed by the application of adsorbents. Therefore, the increase in the global refining capacity has a direct impact on the demand for adsorbents. Analysts have predicted that the adsorbent market will register a CAGR of over 6% by 2023.

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Market Overview

Growing demand for zeolite-based adsorbents

Zeolite is predominantly used as an adsorbent in the petroleum refining, chemical and petrochemical, and industrial gases sectors. It mainly acts as a molecular sieve due to its unique natural honeycomb structure. This structure helps zeolite adsorb, immobilize, and bind liquids, gases, and solid particles. It is a highly efficient adsorbent method of refining and removing hydrocarbons, ammonia, heavy metal cations, and radioactive cations in industrial environments.

Ineffectiveness of adsorbents in certain applications

Adsorbents are widely known for their effective, economical, and simple processing. However, adsorbents have certain limitations, which are expected to hinder the growth of the market during the forecast period. The reduced service life of adsorbents due to the high level of impurities is also expected to have a negative impact on the growth of the market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the adsorbent market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be fairly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

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