The desiccants market consists of sales of desiccants materials or products. Desiccants absorb the moisture from the surroundings and prevent the products from getting damaged due to moisture. Desiccants materials includes silica gel, zeolite, activated alumina, activated charcoal, calcium chloride, clay and others.
The global desiccants market is expected to decline from $0.2 billion in 2019 to $0.2 billion in 2020 at a compound annual growth rate (CAGR) of -3.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $0.2 billion in 2023.
