According to Transparency Market Research’s latest market report titled “Absorbent Pads Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 – 2027,” the growing demand for absorbent pads in the food & agriculture end-use industry to drive the growth of the global absorbent pads market during the forecast period.
Globally, the revenue generated by the absorbent pads market has been estimated to be over US$ 2.0 Bn in 2019 and is expected to increase at a CAGR of 5.1% in terms of value throughout the forecast period.
Absorbent Pads – Market Dynamics
Absorbent pads are gaining significant popularity in end-use industries such as food & agriculture, oil and gas, chemicals, medical, and others, as these are perfect for clean-up and maintenance of drips, inevitable leaks, and spills generated in the workplace during handling, transporting, dispensing, and storing liquids. Such factors are expected to drive the growth of the global absorbent pads market during the forecast period. Exceptional characteristics of absorbent pads such as sturdiness, durability, ease of use, inertness towards absorbed liquid, and reusability make them an ideal choice for industries to improve productivity and safety at the workplace. These are likely to escalate the growth of the global absorbent pads market during the forecast period.
The demand for absorbent pads is increasing in the packaging of meat, poultry, and seafood as they can absorb the dripping water and ensure hygiene. The absorbed liquids are locked-in physically and cannot enter the package. This makes absorbent pads a safe and convenient choice for packaging of meat, poultry, and seafood. Also, absorbent pads are made from FDA-approved natural cellulose fiber, which is further expected to drive the growth of the global absorbent pads market during the forecast period.
The availability of different absorbent pads such as universal absorbent pads, oil absorbent pads, chemical absorbent pads, and hazmat absorbent pads can easily fulfill the needs of various end-user industries. For example, oil absorbent pads are designed for quick oil absorption, which addresses the oil spillage problem. Hence, these are widely used in the oil and gas industry. The use of chemical absorbent pads to absorb various chemicals is also increasing. Hazmat absorbent pads are designed for the absorption of hazardous liquids. Hence, such absorbent pads are proven to improve efficiency and safety at work premises. Thus, the increasing adoption of absorbent pads is likely to drive the growth of the global absorbent pads market during the forecast period.
The Volume of the Global Absorbent Pads Market Is Expected to Expand 1.45x over the Forecast Period
Regardless of the optimistic outlook, the rising number of players in the absorbent pads manufacturing business and increasing instability in raw material prices are probable to hinder the growth of the global absorbent pads market during the forecast period. The increasing number of local players in the absorbent pads market have led to a price reduction, which eventually shrinks the profitability margin of manufacturers. Also, the absorbent pads manufactured from plastic material are not eco-friendly and possess environmental threats. Such factors have the potential to hamper the growth of the global absorbent pads market throughout the forecast period.
Establishing a long-term relationship with raw material suppliers and finding eco-friendly raw material sources is essential for absorbent pad manufacturers to sustain in the heavy competition. Thus, manufacturers of absorbent pads must channelize their efforts towards it.
The Value of the Global Absorbent Pads Market Is Expected to Expand 1.48x over the Forecast Period
Absorbent Pads Market – Competition Dashboard
Detailed profiles of manufacturers of absorbent pads are also included in the report to evaluate their key product offerings, financials, recent developments, and strategies. Key players operating in the global absorbent pads market include Novipax LLC, 3M Company, Brady Corporation, Oil-Dri Corporation of America, Prima SRL, Trico Corporation, Sirane Limited, Azapak, Fentex Ltd, ESP US, MAGIC srl, Pactiv LLC, Gelok International Corporation, W. Dimer GmbH, CoCopac Limited, Meltblown Technologies Inc., Cellcomb AB, and Johnson Matthey Plc. among others.
Absorbent Pads Market – Key Trends
Few of the key developments observed among the manufacturers of absorbent pads are:
- Manufacturers such as 3M Company and Gelok International Corporation are leveraging their core technology to enhance the absorbency of pads.
- 3M Company is focusing on the development of absorbent pads made from microfiber material, which contains millions of small pores that can hold a significant amount of liquid for a long time. This micro-bundle technology is expected to double the capacity of absorbent pads effectively.
- Gelok International Corporation is striving to improve the absorbency of their absorbent pads by using a variety of superabsorbent polymers during manufacturing.
- Customized and specialized absorbent pads are preferred as they help in fulfilling customer-specific needs. Absorbent pads manufacturers are also emphasizing on the manufacturing of eco-friendly absorbent pads.
In the global absorbent pads market report, we have discussed individual strategies, followed by company profiles of the manufacturers of absorbent pads. The ‘Competitive Landscape’ section is included in the absorbent pads market report to provide report audiences with a dashboard view and a company market share analysis of top manufacturers operating in the global absorbent pads market.
In this report, Transparency Market Research (TMR) offers forecast data of the global absorbent pads market between 2019 and 2027. The study reveals the dynamics of the absorbent pads market in six geographic segments, along with a market analysis for the current market environment and future scenario over the forecast period.
Absorbent Pads Market - Report Description
This Transparency Market Research report studies the global absorbent pads market for the period 2019–2027. The prime objective of this report is to offer insights and key market trends pertaining to the absorbent pads market that are gradually helping transform global businesses.
The global absorbent pads market report begins with an executive summary for various categories and their share in the absorbent pads market. It is followed by the market introduction, market dynamics, and an overview of the global absorbent pads market, which includes TMR analysis of the market drivers, restraints, and trends that are affecting the growth of the absorbent pads market. Furthermore, to understand the Y-o-Y trends of the absorbent pads market, a Y-o-Y analysis with elaborated insights on the same are provided.
The global market for absorbent pads is further segmented as per material type, product type, and by end use. On the basis of material type, the global market for absorbent pads is segmented into polypropylene, polyethylene, paper, fiber, and others. On the basis of product type, the global market for absorbent pads is segmented into universal absorbent pads, oil absorbent pads, chemical absorbent pads, and hazmat absorbent pads. On the basis of end use, the global market for absorbent pads is segmented into food & agriculture, oil & gas, medical, chemical, automotive, and others (household, Industrial).
The next-section of the report highlights the USPs which include, a value chain describing the raw material manufacturers, absorbent pad manufacturers, distributors, and suppliers in the market. Each section in the value chain includes some listed examples for better understanding of the whole supply chain, added to it is the profitability margin validated by primary interviews. Another USP includes data about key participants, which is referred to as intensity mapping analysis. This point includes information about manufacturers, distributors, and suppliers. It also explains their presence in North America, Latin America, Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan. Porter’s Analysis is another added point in the report which explains how the number of manufacturers affects the whole market scenario. PESTLE Analysis includes political, economic, social, technological, legal, and environmental analysis of all the regions. This analysis explains the effect of all these factors on the absorbent pads market. A pricing analysis is provided in the report, which is examined in accordance with different regions and product type segments. The values for all product type segment in all the regions including North America, Latin America, MEA, APEJ, Japan, and Europe is provided.
The next section of the report highlights the absorbent pads market by region and provides the market outlook for 2019–2027. The study analyses the drivers that influence the regional absorbent pads market. The main regions assessed in this report include North America, Latin America, Europe, the Asia Pacific Excluding Japan (APEJ), the Middle East & Africa (MEA), and Japan. The report evaluates the present scenario and growth prospects of the regional absorbent pads market for 2019–2027.
To ascertain the size of the absorbent pads market in terms of value and volume, revenue generated by the key absorbent pads manufacturers and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the absorbent pads market. In order to provide an accurate forecast, we initiated by sizing up the current absorbent pads market with the help of the parent market. We gathered data from secondary research and validated it through primary research. Also, we form the basis of how the absorbent pads market is expected to develop in the future by taking into account the opinions of industry experts. Given the characteristics of the absorbent pads market, we triangulated the outcome on the basis of three different types of analysis- based on the supply side, downstream industry demand, and economic envelope. In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters to understand the predictability of the absorbent pads market and identify the right opportunities across the market.
The segments for the global absorbent pads market have been analysed in terms of their market share to understand the individual segment’s relative contribution to market growth. This detailed level of information is important for identifying the key trends in the absorbent pads market.
Absorbent Pads Market – Competition Landscape
In the final section of the report on absorbent pads, a 'dashboard view' of the companies is provided to compare the current industrial scenario and their contribution to the total absorbent pads market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to absorbent pads market segments. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on an in-depth assessment of their capabilities and success in the absorbent pads marketplace.
Absorbent Pads Market – Company Profiles
Detailed profiles of companies are also included in the global absorbent pads market report to evaluate their strategies, key product offerings, and recent developments. Key players operating in the global absorbent pads market include Novipax LLC, 3M Company, Brady Corporation, Oil-Dri Corporation of America, Prima SRL, Trico Corporation, Sirane Limited, Azapak, Fentex Ltd, ESP US, MAGIC srl, Pactiv LLC, Gelok International Corporation, W. Dimer GmbH, CoCopac Limited, Meltblown Technologies Inc., Cellcomb AB, and Johnson Matthey Plc. among others.
Geographical Segmentation of the Absorbent Pads Market
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific Excluding Japan (APEJ)
- ASEAN Countries
- Australia & New Zealand
- South Korea
- Rest of APEJ
- Middle East and Africa (MEA)
- GCC Countries
- Northern Africa
- South Africa
- Rest of MEA