Industrial Absorbents Market is expected to grow at a Compound Annual Growth Rate of 5.1% by 2023

The report Industrial Absorbents Market by Material Type (Natural Organic & Inorganic, Synthetic), Product (Pads, Rolls, Booms & Socks), Type (Universal, Oil-only, HAZMAT), End-use Industry (Oil & Gas, Chemical, Food Processing), and Region – ****** Forecast to 2023″ 

The industrial absorbents market is expected to grow from USD 3.7 billion in 2018 to USD 4.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period. The major factors driving the industrial absorbents market include growing environmental concerns and regulations regarding oil and chemical spills.

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Booms and socks are ideal industrial absorbents products for spill control. Booms and socks are widely used for oil-based spill control in water environment. Booms have excellent water repelling properties and are best suited for water environments such as sea, lakes, and ponds, among others.

Socks are flexible tubes which are used to control and contain spills on land environment and are ideal for quickly absorbing oil- or water-based liquid spills on land. In regions such as the Middle East & Africa and Europe, there are high occurrences of large spills in marine areas, which drives the growth of booms & socks segment in the industrial absorbents market.

The major manufacturers in the ****** industrial absorbents market are 3M Company (US), Brady Corporation (US), Decorus Europe Ltd. (UK), Johnson Matthey Plc (UK), Kimberly-Clark Professional (US), Meltblown Technologies Inc. (US), Monarch Green, Inc. (US), New Pig Corporation (US), and Oil-Dri Corporation of America (US).

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New Pig Corporation is engaged in the manufacture and sales of absorbent-based spill control products. The company is one of the leading players in the industrial absorbents market. It company offers a wide range of spill control products. New Pig Corporation also has a strong online presence, which makes it more competitive in the industrial absorbents market.

The company is focused on the development of new products to sustain in the fragmented market for spill control products. For example, in 2017, it introduced the PIG Forklift Spill Kit for forklift truck and tow motors. This strategy helped the company strengthen its product portfolio for the industrial absorbents market.

Brady Corporation is engaged in the manufacture and distribution of specialty materials and identification solutions. It has a substantial geographic spread covering the major and emerging markets for industrial absorbents products. The company offers exhaustive product portfolio under its Brady SPC brand. It has low focus and business generation from regions such as Europe, Asia Pacific, and Middle East & Africa, which are the important markets for industrial absorbents.

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