Published: Mar, 2019
Transparency Market Research delivers vital insights on the absorbent pads market in its report titled “Absorbent Pads Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027.” In terms of revenue, the global absorbent pads market is projected to expand at a CAGR of 5.1% during the forecast period.
Absorbent pads are manufactured from materials such as polypropylene, polyethylene, paper, fiber, and others. These are used to absorb all water-based fluids, petroleum oils, vegetable oils, coolants, hydraulic fluids, blood, etc. Absorbent pads are classified in product types such as universal absorbent pads, oil absorbent pads, chemical absorbent pads, and hazmat absorbent pads. An absorbent pad is one of the most efficient spill kit products and is widely accepted in various end-use industries such as food & agriculture, oil and gas, medical, chemical, automotive, and others (household, industrial).
In the report, TMR proposes that the food and agriculture end-use segment is anticipated to drive the global demand for absorbent pads during the forecast period. The continuous expansion of food and agriculture industries across the globe is likely to produce significant demand for absorbent pads during the forecast period.
North America is a significant shareholder of the global absorbent pads market and is expected to expand with a notable CAGR during the forecast period. The increasing demand for absorbent products, which can keep food items such as meat, poultry & seafood, fresh and ensure hygiene, by absorbing dripping water appears to be the key factor driving the growth of the North American absorbent pads market. In North America, the U.S. is expected to remain prominent in terms of absorbent pads market share, while Canada is expected to witness peak CAGR during the forecast period.
The healthy growth rate of food and chemical industries in Asia Pacific excluding Japan (APEJ) region, and the growing demand for absorbent material for packaging of fresh food, hazardous chemicals, and others to prevent harm from any spillage is likely to create significant demand for absorbent pads during the forecast period. Also, the increasing use of absorbent pads for medical treatment to absorb blood and other fluids, is expected to push the growth of the absorbent pads market during the forecast period. China is likely to be at the forefront in terms of market share of absorbent pads during the forecast period. India, ASEAN Countries, and South Korea are expected to represent high growth opportunities for the absorbent pads market during the forecast period. Australia and New Zealand are significant shareholders of the APEJ absorbent pads market and are projected to expand with a notable growth rate during the forecast period.
Europe is likely to follow the Asia Pacific excluding Japan (APEJ) region in terms of absorbent pads market value (US$ Mn) and volume (tonnes) during the forecast period. Robust growth of the automotive industry in this region and increasing use of absorbent pads for absorption of oil, grease, and other fluids is expected to propel the growth of the absorbent pads market during the forecast period. Also, increasing use of absorbent pads in oil and gas industries for addressing the spillage problem is expected to push the growth of the European absorbent pads market during the forecast period. In terms of absorbent pads market share, Germany is expected to be highly attractive and projected to expand with a healthy growth rate during the forecast period.
Latin America and the Middle East & Africa are also cited as significant regional markets for absorbent pads and are expected to see promising growth during the forecast period. Rapidly growing end-use industries in these regions are expected to represent significant incremental opportunities for the absorbent pads market during the forecast period. Brazil and GCC Countries are expected to be highly attractive in terms of absorbent pads market share during the forecast period.
The manufacturers of absorbent pads market are focusing on the customization of absorbent pads to fulfil the customer requirements and increasing their global footprint via expansions and collaborations. Manufacturers of absorbent pads are expected to focus on profitable regions such as the Asia Pacific excluding Japan (APEJ), Latin America, and the Middle East & Africa in the coming years. The presence of radially emerging economies coupled with the continuous expansion of end-use industries is likely to generate substantial opportunities for the absorbent pads market during the forecast period.
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.
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