The report "Adsorbents Market by Type (Molecular Sieves, Activated Carbon, Silica Gel, Activated Alumina), Application (Petroleum refining, Chemicals/Petrochemicals, Gas refining, Water treatment, Air Separation & Drying, Packaging), & Region - Global Forecast to 2026" The global Adsorbents market size is projected to reach USD 5.6 billion by 2026, at a CAGR of 5.9% from 2021 to 2026.The global adsorbents market size is estimated to grow from USD 4.1 billion in 2021 to USD 5.6 billion by 2026, at a CAGR of 5.9% during the forecast period. Thedriving factors for the adsorbents market is the industry growth is backed by the large-scale developments in oil & gas processing and socio-economic advancements such as the increased use of adsorbents in maintaining purity standards in various applications and because of environmental concerns.

COVID-19 Impact on the Adsorbents Market

The global Adsorbents market includes major Tier I and II suppliers like Arkema SA(France), Honeywell International Inc(US), Axens(France), BASF SE (Germany), Cabot Corporation(US). These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, and Rest of the World. COVID-19 has impacted their businesses as well.

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The global Adsorbents market is expected to witness a decrease in its growth rate in 2020-2021, as the energy & chemical and building & Air separation & drying is badly hit by the covid-19 pandemic. The pandemic has affected both material, labor, and key cost components of construction projects. The pandemic has led to production stoppage in several adsorbents-producing countries that are under lockdown. APAC and NA are the leading producers of adsorbents for various end-use industries. All these factors have led to disruption in the supply chain of the Adsorbents market as operations have slowed down in many manufacturing units.

Driver: Increase in demand for oxygen concentrators

With the increase in COVID-19 cases and the shortage of oxygen cylinders across several states in India, oxygen concentrators are among the most sought-after devices for oxygen therapy, especially among patients in home isolation and for hospitals running out of oxygen. An oxygen concentrator is a medical device that concentrates oxygen from ambient air. Atmospheric air has about 78% nitrogen and 21% oxygen, with other gases making up the remaining 1%. The oxygen concentrator takes in this air, filters it through a sieve, releases the nitrogen back into the air, and works on the remaining oxygen.

Concentrators are portable and, unlike LMO that needs to be stored and transported in cryogenic tankers, need no special temperature. Unlike cylinders that require refilling, concentrators only need a power source to draw in ambient air. For this, pressure swing adsorption (PSA) is a technology used to separate some gas species from a mixture of gases under pressure according to the species' molecular characteristics and affinity for an adsorbent material. This has driven the demand for adsorbents.

Restraint: Reduced service life due to high level of impurities

Adsorbent materials have the ability to attract molecules on their surfaces, but this ability is limited. Once the capacity is over, further continuation with the refining and purification will create an equilibrium leading to desorption. Adsorbents are used for refining and purification treatments, for adsorption of various contaminants and impurities such as (carbon dioxide or hydrogen sulfide), mercaptans, production chemicals, and hydrate inhibitors. At this time, the present impurities react with adsorbents, resulting in the regeneration of the adsorbent. These contaminants either regenerate the adsorbent or remove it. The service life of adsorbents is based on the regeneration capacity of the material, and this can be the restraint for the overall adsorbents market.

Molecular Sieves is expected to be the fastest-growing application in the Adsorbents market during the forecast period.

Molecular Sieves is the fastest-growing application segment in the Adsorbents market. The growth in this segment is attributed to the growing use of adsorbents in petroleum refining. Molecular sieves are often utilized in the petroleum industry, especially for the purification of gas streams and in the chemistry laboratory for separating compounds and drying materials. There are four main types of molecular sieves: 3A, 4A, 5A, and 13X. The type is dependent on the molecule’s chemical formula, and it determines the pore size of the molecular sieve. It accounted for a share of about 38.56% of the Adsorbents market, in terms of value, in 2020.

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APAC is expected to hold the largest market share in the global Adsorbents market during the forecast period.

APAC accounted for the largest share of the Adsorbents market in 2020. The adsorbents market in APAC is driven by the demand from countries such as China, Japan, and India. Rapid industrialization, mainly in emerging economies such as China and India, has been one of the major factors driving the global adsorbents market. Adsorbents are widely used for removing and controlling contaminants from various industrial processes, such as the production of low sulfur fuels. They are extensively used for a wide range of applications, ranging from insulating glass windows to the removal of mercury in large-scale natural gas/crude oil wellheads. Adsorbents are an integral part of any process used in the manufacturing of modern-day specialized products. The market in APAC, owing to high demand, is much more dynamic and competitive than that in the western region. These factors are projected to drive the demand for adsorbents in APAC.

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