CHICAGO, Nov. 7, 2023 /PRNewswire/ -- The report "Polymeric Adsorbents Market by Type (Aromatic (Crosslinked Polystyrenic Matrix), Modified Aromatic (Brominated Aromatic Matrix), Methacrylic (Methacrylic Ester Copolymer), and Phenol Formaldehyde), End-Use Industry, and Region - Global Forecast to 2028", size is projected to grow from USD 130 million in 2023 to USD 170 million by 2028, at a CAGR of 5.5% from 2023 to 2028.
In the polymeric adsorbents market, significant drivers include the escalating demand for clean water treatment, advancements in the pharmaceutical sector, and a global shift towards sustainability. These factors propel market growth as these adsorbents are essential for water purification, pharmaceutical processes, and industrial applications. Conversely, higher costs and competition from alternative technologies serve as restraints, potentially limiting market expansion. Opportunities lie in diversifying applications and exploring emerging markets, while challenges encompass fluctuations in raw material prices.
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173 – Tables
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The aromatic segment dominated the polymeric adsorbent market in 2022.
In 2022, aromatic polymeric adsorbents emerged as the predominant segment in both value and volume within the polymeric adsorbents market. This type of adsorbent, characterized by its substantial surface area, precise pore size distribution, and remarkable chemical and physical stability, claimed the largest market share. These attributes make aromatic polymeric adsorbents crucial in a diverse spectrum of applications, particularly in the pharmaceutical and food & beverage sectors. They are extensively utilized for protein and small peptide purification, sugar decolorization, the elimination of phenol, and the adsorption of fatty acids.
The pharmaceutical segment is estimated to be the largest segment in the polymeric adsorbents market in 2022.
In 2022, the pharmaceutical industry emerged as the largest segment in terms of value within the polymeric adsorbents market. This demand surge was primarily driven by the pharmaceutical sector's extensive use of polymeric adsorbents for the purification of antibiotics, enzymes, bulk drugs, and vaccines. The preference for polymeric adsorbents in pharmaceutical applications is attributed to their numerous advantages, including their high adsorption capacity and robust physical and chemical stability. This sets them apart from alternatives like powdered activated carbon and positions them as the preferred choice in the pharmaceutical industry.
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Asia Pacific is projected to account for the largest share of the polymeric adsorbents market during the forecast period.
The Asia-Pacific (APAC) region is poised to dominate the polymeric adsorbents market during the forecast period, holding the largest share in both value and volume from 2023 to 2028. The dynamic growth in the APAC region can be attributed to a burgeoning population and rapid urbanization, which are key drivers of industry expansion. Notably, the robust growth of food & beverage and pharmaceutical industries in multiple APAC countries is fueling the demand for polymeric adsorbents in the region. This demand surge reflects the region's increasing significance in the global polymeric adsorbents market.
DuPont de Nemours, Inc. (US), Mitsubishi Chemical Corporation (Japan), Purolite Corporation (US), Chemra GmbH (Germany), Sunresin New Materials Co. Ltd. (China), Lanxess AG (Germany), and Thermax Limited (India), amongst others, are the key players operating in the polymeric adsorbents market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the polymeric adsorbents market.
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