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Desiccant Market Size 2024 Industry Growth Statistics, Revenue Expectation, Future Trends, and Forecast till 2032

Desiccant Market Size 2024 Industry Growth Statistics, Revenue Expectation, Future Trends, and Forecast till 2032

The global desiccant market revenue was around US$ 1.1 billion in 2022 and is estimated to reach US$ 1.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2023 to 2032.

Desiccants are materials or products that are hygroscopic. They soak moisture from the surrounding environment. By absorbing moisture, they lower humidity and assist in controlling the damage that moisture causes to products. Physical absorption is the procedure whereby desiccants absorb and trap moisture within capillaries or surfaces without changing the properties of the water.

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Factors Influencing Market Growth

– The desiccant market is anticipated to witness high growth possibilities in the future due to the growing demand for activated alumina from the gas and oil industry and the rising demand for desiccants from the pharmaceutical industry.

– The high investment costs related to desiccants are anticipated to hamper the development of the desiccant market.

– The rise in the usage of desiccants in air conditioning systems and the chemical sector is anticipated to offer ample growth opportunities for the global desiccant market.

Impact of COVID-19

Many industries that utilize desiccants like automotive, manufacturing, and electronics, encountered temporary shutdowns or decreased production due to lockdowns and decreased consumer demand. This resulted in reduced demand for desiccants in these sectors. Therefore, the lowered number of COVID-19 cases and implementation of subsequent plans by government and non-government organizations is expected to propel business development in the future.

Regional Analysis

In 2022, Asia-Pacific dominated the global desiccant market in terms of revenue share in terms of revenue. The Asia-Pacific desiccant market is being driven by the evolution of the pharmaceutical industry in countries like India, China, and Japan. The Asia-Pacific desiccant market is being propelled by the development of the pharmaceutical industry as well as government investments, which desire to enhance manufacturing capabilities and exports in the country. The desiccant market in this region is growing as a result of these government initiatives and the improved concern about health.

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Leading Companies

The leading prominent companies profiled in the global desiccant market are: –

– Fuji Silysia Chemical Ltd.
– Hengye, Inc.
– TROPACK Packmitel GmbH
– Capitol Scientific, Inc.
– Multisorb
– Evonik Industries AG
– Desicca Chemical Pvt. Ltd.
– W. R. Grace & Co.-Conn.
– Porocel Corporation
– The Dow Chemical Company
– INEOS Corporation
– Qingdao Makll Group
– Zeotec Adsorbents Private Limited
– AGM Container Controls
– Delta Adsorbents
– Other prominent key players

Segmentation Outline

The global desiccant market segmentation focuses on Type, End-user industries, and Region.

Segmentation based on Type

– Silica Gel
– Activated Alumina
– Activated Charcoal
– Zeolite
– Calcium Chloride
– Clay
– Others

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Segmentation based on End-use industries

– Packaging
– Food
– Pharmaceutical
– Electronics
– Others

Segmentation based on Region

– North America
– The U.S.
– Canada
– Europe
– UK
– Germany
– France
– Italy
– Spain
– Netherlands
– Rest of Europe
– Asia-Pacific
– China
– Japan
– India
– Australia
– South Korea
– Singapore
– Rest Of Asia-Pacific
– Latin America
– Middle East
– Africa

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Table of Content:

  • Report Overview
  • Global Growth Trends
  • Competition Landscape by Key Players
  • Data Segments
  • North America Market Analysis
  • Europe Market Analysis
  • Asia-Pacific Market Analysis
  • Latin America Market Analysis
  • Middle East & Africa Market Analysis
  • Key Players Profiles Market Analysis
  • Analysts Viewpoints/Conclusions
  • Appendix

Key Questions Market Research and Analysis Report

What is the current market size, both in terms of value and volume?

What is the historical growth rate of the market, and what are the projected growth rates for the future?

Who are the major players in the market, and what is their market share?

What are the market trends and dynamics influencing the industry?

What are the key drivers of market growth?

What are the challenges and barriers faced by market participants?

What are the emerging opportunities in the market?

What is the competitive landscape of the market?

What are the consumer preferences, behaviors, and buying patterns within the market?

What is the market segmentation, and how are different market segments performing?

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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)

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