Global Desiccants Market Size 2024, Forecast To 2033
11 Mar, 2024
The desiccants market has witnessed strong growth, escalating from $0.16 billion in 2023 to $0.17 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.4%. The growth in the historical period is attributed to robust economic expansion in emerging markets, an increase in disposable income, growth in the pharmaceutical industry, industrialization, growth in the packaging industry, and rapid expansion in e-commerce. Projected for the forecasted period is continued strong growth, reaching $0.22 billion in 2028 at a CAGR of 6.3%. Factors driving this growth include increasing government support, rising demand from the chemical industries, a rise in the global population, and rapid urbanization. Key trends in the forecast period involve advanced desiccant breathers, product innovations, new bio-based moisture-adsorbing packets, technological advancements, and a focus on launching innovative desiccant packaging.
Global Desiccants Market Key Driver
The desiccants market is set to experience growth propelled by the rise in textile manufacturing activities. Textile manufacturing involves the transformation of fibers into yarn and, subsequently, yarn into fabric. Desiccants play a crucial role in controlling humidity during textile manufacturing and storage, preventing mold growth and preserving fabric quality. According to the National Council of Textile Organizations, textile and apparel shipments totaled $65.8 billion in 2022, emphasizing the significance of the textile industry. This surge in textile manufacturing is a key driver for the desiccants market, projecting values of $X billion in 2023, $Y billion in 2024, and an estimated $Z billion in 2028.
Get A Free Sample Of The Global Desiccants Market ReportGlobal Desiccants Market Segments
The desiccants market covered in this report is segmented –
1) By Type: Silica Gel, Zeolite, Activated Alumina, Activated Charcoal, Calcium Chloride, Clay, Other Types
2) By Process: Physical Absorption, Chemical Absorption
3) By Application: Electronics, Food, Pharmaceutical, Packing, Other Applications
By Geography:The regions covered in the desiccants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
Asia-Pacific was the largest region in the desiccants market in 2023. North America was the second-largest region in the global desiccants market. The regions covered in the desiccants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Desiccants Industry Players
BASF, Evonik Industries, W. R. Grace and Co, INEOS Corporation, Clariant, Multisorb Technologies, The Dow Chemical Company, Absortech, Sorbead, Hengye Molecular Sieve, Benz Packaging Solutions (p) Ltd, The Focus Air Desiccant Traders, Aquasafe Silica Sales, Silica Gel Desiccant Industries, Shiv Chemicals, Astrum Packtech, Vahanvati Enterprise, Chunwang, Dingxing, Jiayuan, Taiwdry, Jiyou, Xiaowei, TOPCOD, JIELILE, Xiangyuan, Valdamark Ltd, Thompson & Capper Ltd, Aquadry, Baltimore Innovations, Geejay Chemicals Ltd, Systemation Euro, Air Dryer Technology Ltd, R-Tech Solutions Ltd, Cole-Parmer United Kingdom, Seibu Giken DST AB, PJSC Zaporizhtransformator, ADVANSTEH LTD, Romstal Ukraine LLC, Hygromedia LLC, Lancaster Packaging, Compressed Air Systems, Inc, Drytech Incorporated, LIBBS FARMACEUTICA LTDA, SPLACK, Joy Global, Brasil Indústria e Comércio Ltda, Super Dry International FZCO, Desiccant Rotors International Private Limited, FAS Arabia LLC, Dubai Chem Marine International, Dunak International Ltd, Guaranteed Source Ltd, Feyi Flosebit Ent, Best Farm Nig Ltd., Lavenjok Nig Ltd, Evi&sons Nigeria Limited.
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Desiccants Market Overview
A desiccant is a hygroscopic substance that absorbs moisture from the environment and protects products from moisture damage. The desiccants are generally used to keep items dry and stable.
Desiccants Global Market Report 2023 provides data on the global desiccants market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The desiccants market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.