Global Synthetic Dyes and Pigments Market

Oxygen Market Definition

The ethyl alcohol market consists of sales of ethyl alcohol and related services. Ethyl alcohol is used as a solvent in the synthesis of other organic chemicals, as an ingredient in alcoholic beverages like beer, wine, or brandy, and as a gasoline additive in the automotive industry. Ethyl alcohol is also known as ethanol or grain alcohol is a volatile, flammable, colorless liquid industrially used as a chemical intermediate to make pharmaceutical ingredients or as a solvent. The main types of ethyl alcohol are synthetic and fermented. Ethyl alcohol fermentation is defined as the chemical process in which the yeast transforms glucose and fructose in a solution to ethanol, carn dioxide, and heat. The various applications of ethyl alcohol include industrial solvent, fuel/fuel additive, bacteriacide/disinfectant, beverages, personal care, and other applications. The major end-use industries of ethyl alcohol are automotive, food and beverages, pharmaceutical, personal care, and other end users. The global ethyl alcohol market size is expected to grow from $486.53 billion in 2021 to $518.84 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The global ethyl alcohol market size is expected to grow to $649.33 billion in 2026 at a CAGR of 5.8%. Rising demand for ethanol in the food processing industry is contributing to the growth of the ethyl alcohol market. It is used as an intoxicating ingredient in manufacturing alcoholic and non-alcoholic beverages such as vodka and gin. Additionally, ethyl alcohol is also used as a natural product in non-alcoholic beverages. Due to increased ready-to-eat, frozen, and packaged foods, the food processing industry is growing significantly. As a result, the demand from the food processing industry has also increased due to the growing population through new births and migrations, which further increases the industry's production and demand for ethanol. The demand for ethanol in the food processing industry will lead to the expansion of the global market for ethyl alcohol. For example, in India, the ethanol market is expected to grow to $7.38 billion by 2024, at a CAGR of 14.50% due to ethanol use in applications such as food and beverages. Rising demand for ethanol in the food processing industry is expected to boost the demand for ethyl alcohol during the forecast period, driving the market. The rise in awareness about the ill effects of alcohol consumption is expected to limit the growth of the ethyl alcohol market. According to a study by World Health Organization (WHO), alcohol consumption is responsible for more than 200 diseases and injury conditions. It possesses risks of health problems such as mental and behavioral disorders, diseases such as liver cirrhosis, cardiovascular diseases, and injuries from road accidents. With rising awareness of the effects of alcohol consumption on global health, the demand for information on consumption and its related harm and policies has risen significantly. For example, in 2020, according to the Journal of Studies, alcohol awareness in the Yukon increased to 42%, a 10% rise in awareness due to warning labels on alcohol bottles and drugs. This is bound to negatively impact the market. Companies are increasingly producing ethanol from corn and sugar in the ethyl alcohol market. Ethanol is produced from corn by the dry milling process. In this process, corn kernel is prepared into flour or mash, which is then mixed with water. It is purified through distillation and dehydration to create ethanol. The rising demand for liquid fuels in the transportation industry, global rising demand for oil, and negative consequences of global warming have contributed to the increased use of corn-based sugar to produce ethanol, thereby reducing global warming gases. It can be used in many of today's passenger cars and trucks as a substitute for burning gasoline. The US Department of Agriculture (USDA) predicts that during the 2020-21 crop season, 5.2 billion hectares of corn will go to ethanol generation, up 250 million hectares compared to the approximate amount of corn that moved to ethanol processing during 2019-20 crop season. Additionally, the U.S and Brazil produce 85% of the global ethanol from corn. Production of ethanol from corn helps in reducing greenhouse gases by 18% and production of ethanol from sugar helps in reducing greenhouse gases by 90%. Production of ethanol from corn and sugar offers several advantages such as reduced greenhouse gases and decreases dependency on foreign oil. In October 2019, The Andersons, Inc., a USA-based company specializing in agriculture, grain, rail, plant nutrients, and ethanol merged with Marathon Petroleum Corp. to form a new entity, The Andersons Marathon Holdings LLC. The merger is expected to enhance and broaden the ethyl alcohol facilities. The ethyl alcohol facilities in the merger include those in Albion, Mich, Clymers, Ind, and Greenville, Ohio. Marathon Petroleum Corp. is a USA-based petroleum refining company that specializes in refining, supplying, marketing, and transporting petroleum products. Major players in the ethyl alcohol market are Advanced Bioenergy LLC, Andersons Ethanol Group, Archer Daniels Midland Company, Aventine Renewable Energy, Braskem, British Petroleum, Cargill Corporation, Green Plains Inc., Kirin Holding Company, and LyondellBasell Industries NV. Asia Pacific was the largest region in the ethyl alcohol market in 2021. North America was the second largest market in the ethyl alcohol market. The regions covered in the ethyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ethyl alcohol market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global ethyl alcohol market is segmented - 1) By Type: Synthetic, Fermented 2) By Application: Industrial Solvent, Fuel/Fuel Additive, Bacteriacide/Disinfectant, Beverages, Personal Care, Others 3) By End-User Industry: Automotive, Food and Beverages, Pharmaceutical, Personal Care, Others

The reactive & other adhesives market consists of sales of reactive & other adhesives which are generally made out of monomer (resin) and an initiator. The main types of reactive & other adhesives are epoxy, acylic, silicone, polyurethane, and other types. The major types of additives are polyurethane, acrylic, silicone, vinyl, epoxides, and other additives that are used in building and construction, automotive and transportation, power, electrical and electronics, and other sectors. The global reactive & other adhesives market size is expected to grow from $9.88 billion in 2021 to $10.7 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The global reactive and other adhesives market size is expected to grow to $14.18 billion in 2026 at a CAGR of 7.3%. The adhesive market is expected to benefit from growth in the automobiles industry during the forecast period. There is a drive for the production of lightweight automobiles which is leading to an increase in demand for adhesives and sealants. These are used in place of welded joints, mechanical fasteners, and gaskets and help reduce the weight of the automobile. For instance, companies such as Jowat are using reactive adhesives for a perfect bonding of vehicle parts in the automotive industry. Thus, the increased use of plastics in automobiles is expected to increase the demand for reactive adhesives during the forecast period. Stringent safety regulations associated with the manufacturing and transportation of adhesives chemicals were a major restraint on the market. These substances are highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Companies in this industry should invest in equipment, technologies, and processes to limit toxic levels and chemical concentrations. These regulations increased the operating costs of companies in this industry, thus limiting the scope for investments relating to the launch of new products and expansion into new markets, thereby affecting the market growth. Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller. In November 2020, Pidilite Industries, an Indian adhesives manufacturing company acquired Huntsman Corporation for $ 28558.8 million. Through this acquisition, Araldite will add to the already very strong portfolio of Pidilite Industries adhesives and sealants and will complement Pidilite Industries' retail portfolio. Huntsman Corporation is an American manufacturer and marketer of chemical products for consumers and industrial customers. Major players in the market are BASF SE, 3M, ADCO Global, Adhesives Research, American Biltrite, Avery Dennison, Chemence, Collano Adhesives, Dow Chemical, and H.B. Fuller. Asia Pacific was the largest region in the reactive & other adhesives market in 2021. North America was the second-largest region in the reactive and other adhesives market. The regions covered in the reactive adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the reactive and other adhesives market report are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The global reactive & other adhesives market is segmented - 1) By Type: Epoxy, Acylic, Silicone, Polyurethane, Others 2) By Additive: Polyurethane, Acrylic, Silicone, Vinyl, Epoxides, Others 3) By Application: Building and Construction, Automotive and Transportation, Power, Electrical and Electronics, Others

The polystyrene market consists of the sales of polystyrene and related services. Polystyrene is a synthetic thermoplastic material formed through polymerizing styrene. It is used in modeled products, foams, and sheet materials. The main product types of polystyrene are expandable polystyrene (EPS), general-purpose polystyrene (GPPS), high-impact polystyrene (HIPS), extruded polystyrene (XPS). Extruded polystyrene is manufactured through an extrusion process. This manufacturing process will involve melting together the plastic resin and other ingredients. The applications are HVAC insulation, rigid packaging, seating, flexible packaging. The end-use industries are the automotive industry, electronics, thermal insulation industries, pharmaceuticals, consumer industry, packaging industry, construction industry. The global polystyrene-plastic material and resins market size is expected to grow from $34.55 billion in 2021 to $39.86 billion in 2022 at a compound annual growth rate (CAGR) of 15.4%. The global polystyrene-plastic material and resin market size is expected to grow to $68.44 billion in 2026 at a CAGR of 14.5%. The demand for packaging products has increased recently, particularly in emerging economies such as China and India. As the size of the middle-class grew in these countries, the consumption of processed foods, poultry, meat, and agricultural products increased. According to the trading economics, the Gross Domestic Product per capita in China was at $10430.73 US dollars in 2020. and India's Gross Domestic Product (GDP) per Capita reached 1,947.417 USD in Mar 2021, compared with 2,140.396 USD in Mar 2020. The increase in per-capita income in these economies resulted in the emerging middle-class purchasing more packaged goods. The demand for packaged goods increased the consumption of polystyrene for their packaging, driving the market. Stringent regulations on plastic materials were a major restraint on the polystyrene market. Many of the products in the polystyrene market are potentially hazardous during the manufacturing stages because the manufacturing processes involve reactions that can be dangerous unless controlled carefully. Government agencies and regulators are strictly assessing and managing the risks involved in the production and use of polystyrene. Many cities in the USA, decided to ban polystyrene products from schools and other civic buildings. In January 2019, New York City implemented a citywide ban on single-use foam containers. In October 2019, The Integrated Waste Management Authority passed the ordinance to ban polystyrene in the entire San Luis Obispo County. Polystyrene manufacturers are instructed to be compliant with complex regulations that govern labeling, handling, manufacturing and shipping, and storage of the product, leading to an increase in compliance costs for the manufacturers. Construction and packaging sectors in developing countries are increasingly using Expanded Polystyrene (EPS). EPS provides design and structural cohesion to construction projects and possesses physical and mechanical properties required for insulation. It is mostly used in the construction sector due to properties of closed air low thermal conductivity, low water absorption, lightweight, mechanical resistance, and sound resistance. EPS offers sound weight and volume performances compared to other building materials making construction simple. In February 2019, INEOS Styrolution, a styrenics supplier headquartered in Germany completed the acquisition of two polystyrene sites from Total S.A. for an undisclosed amount. The acquisition includes two polystyrene production sites in Ningbo and Foshan and two related offices in Guangzhou and Shanghai. The transaction will increase INEOS Styrolution’s manufacturing footprint in Asia, and provide access to the domestic market in China. Total SA is a multinational oil and gas company headquartered in France. Major players in the polystyrene market are A.Schulman Inc, ACH Foam Technologies, Inc, Alpek S.A.B. de C.V, Americas Styrenics LLC, Atlas Roofing Corporation, Austrotherm GmbH, BASF SE, BEWiSynbra Group, Brødr. Sunde as, and Chi Mei Corporation. Asia Pacific was the largest region in the polystyrene market in 2021. North America was the second-largest region in the global polystyrene market. The regions covered in the global polystyrene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the polystyrene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global polystyrene-plastic material and resins market is segmented - 1) By Product Type: Expandable Polystyrene (EPS), General-Purpose Polystyrene (GPPS), High-Impact Polystyrene (HIPS), Extruded Polystyrene (XPS) 2) By Application: HVAC Insulation, Rigid Packaging, Seating, Flexible Packaging 3) By End-User Industry: Automotive Industry, Electronics, Thermal Insulation Industry, Pharmaceuticals, Consumer Industry, Packaging Industry, Construction Industry

The industrial gas market consists of the sales of industrial gases by entities (organizations, sole traders, or partnerships) that manufacture industrial organic and inorganic gases in compressed, liquid, and solid forms. Industrial gases are also referred to as bulk gases or commodity gases. The main types of industrial gas are nitrogen, oxygen, carbon dioxide, hydrogen, and other types industrial gas. Nitrogen is a nonmetallic chemical element that under standard conditions is a colorless, odorless, inert gas, that is constituting 78 percent of the Earth's atmosphere, and that is used mainly in the industrial synthesis of ammonia, as a component of inert atmospheres, and in liquid form as a refrigerant. The mode of supply is bulk, packaging, and pipeline. The packaging is cylinders, bottles, canisters, cartridges, cryogenic tanks/vessels, and others packaging. The end-user industries involved are chemicals, metallurgy, manufacturing, food and beverage, healthcare, and other end-user industries. The global industrial gas market size is expected to grow from $110.92 billion in 2021 to $127.92 billion in 2022 at a compound annual growth rate (CAGR) of 15.3%. The global industrial gases market size is expected to grow to $219.34 billion in 2026 at a CAGR of 14.4%. New developments are taking place in healthcare with increasing emphasis on a healthier and generally better quality of life. In addition to oxygen, nitrous oxide, nitric oxides other industrial gases like hydrogen, helium, and xenon are all being prepared for use in pharmaceutical-based products. Treatments and drug developments using induced pluripotent stem cells (IPS) are bringing a new added value to the industry through the application of systems using gases such as carbon dioxide and liquid nitrogen, which is indispensable for the cultivation and preservation of cells and tissues driving demand for high-grade industrial gases. Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period, this is expected to limit new investments in the market. Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country. This is likely to affect new investments in terms of expansion, research, and development of new products. For instance, the US interest rates are expected to rise up to 3.5% by 2021. These factors are expected to have a negative impact on the market as borrowing money becomes expensive, thereby affecting the market growth. Industrial gas companies are increasingly supplying carbon dioxide emitted from industrial facilities to greenhouses. CO2 emitted from power plants and refineries are stored in local capacities and empty natural gas fields, and transported to greenhouses via pipelines. This process acts as an intelligent CO2 recycling solution and reduces the carbon footprint of greenhouses. For example, Linde collects carbon flow from the Shell oil refinery near Rotterdam, Netherlands, and supplies about 400,000 tonnes of CO2 to over 580 greenhouses across Rotterdam and Amsterdam. This saves the combustion of 115 million cubic meters of natural gas and avoids emissions of 205,000 tonnes per year of CO2. Major companies in the industrial gas market include The Linde Group, Air Liquide, SIG Gases Berhad, Air Products and Chemicals Inc, Mitsubishi Chemical Holdings Corp, Air Water Inc, Taiyo Nippon Sanso Corporation, Messer Group GmbH, Iwatani Corporation, and Arkema SA. Asia Pacific was the largest region in the industrial gas market in 2021. North America was the second-largest region in the global industrial gas market. The regions covered in the global industrial gases market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the industrial gas market report are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The global industrial gas market is segmented - 1) By Type: Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Others 2) By Mode of Supply: Bulk, Packaging, Pipe Line 3) By Packaging: Cylinders, Bottles, Canisters, Cartridges, Cryogenic Tanks/Vessels, Others 4) By End-User Industry: Chemicals, Metallurgy, Manufacturing, Food and Beverage, Healthcare, Others

The disinfectants market consists of sales of chemical solutions that kill microorganisms and prevent infectious diseases. Disinfectant in general refers to a chemical agent that is used to kill all recognized pathogenic microorganisms on inanimate objects on the surface of floors, tiles, washrooms, furniture, and instrument. The main types of disinfectants are quaternary ammonium compounds, peracetic acid, chlorine compounds, hydrogen peroxide, alcohols and aldehyde products, and other products. Hydrogen peroxide is defined as an unstable, oily, colorless liquid that is used as a bleaching agent or an antiseptic. It also occurs naturally in the air in small amounts. The major forms of disinfectants are liquid and sprays. The various end-user industries of disinfectants include hospitals, clinics, domestic users, and other end users. The global disinfectants market size is expected to grow from $5.58 billion in 2021 to $6.1 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. The global disinfectant market size is expected to grow to $8.99 billion in 2026 at a CAGR of 10.2%. The increasing occurrence of hospital-acquired infections increased spending on disinfectant solutions globally and this factor contributed to the global disinfectant market's growth. Patients sometimes get cured in hospitals but get infected by other diseases in hospitals themselves, this is called Hospital-acquired infections (HAI). According to the world health organization (WHO), in Europe, nearly 41.31 lakhs patients are infected by approximately 45.441 lakhs episodes of healthcare-associated infections every year. The increase in safety towards patients in hospitals has boosted the spending on disinfecting solutions which resulted in the growth of the disinfectant market. A saturated market of developed economies is expected to limit the growth of the disinfectant market. In recent years, the developed countries are using the same quantity of disinfectant solutions as previous years. Due to the stabilized consumption, the growth rate in developed markets is expected to decline when compared to the growth of disinfectants in the emerging market. Inadequate change in the market hampers the disinfectant market. Disinfectant service providers are using drones to spray the disinfectant solutions without using humans to reduce the spread of infection from the contaminated area. In China, several drone manufacturer has modified their agricultural drone models, which were originally intended to spray crops with pesticides, to spray disinfectant. Over large areas can be disinfected with ease and effective way. In March 2019, Innovative chemical products acquired Benefect for an undisclosed amount. The acquisition is expected to strengthen the ICP BSG's family. Benefect is founded in year 2006 and leading supplier of hospital disinfectants using essential oils from plants. Major players in the disinfectants market are 3M Company, Johnson & Johnson, Reckitt Benckiser Group PLC, Bio-Cide International Inc., Cardinal Health, Steris Corporation, Procter & Gamble, Kimberly-Clark Corporation, Novartis AG, and American Biotech Labs. Asia Pacific was the largest region in the disinfectants market in 2021. Western Europe was the second-largest region in the global disinfectant market. The regions covered in the global disinfectants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the disinfectants market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global disinfectants market is segmented - 1) By Type: Quaternary Ammonium Compounds, Peracetic Acid, Chlorine Compounds, Hydrogen Peroxide, Alcohols and Aldehyde Products, Others 2) By Form: Liquid, Sprays 3) By End-User: Hospitals, Clinics, Domestic Users, Others

The toluene market consists of sales of toluene and related services. It is used in aviation fuel and other high-octane fuels, dyestuffs, and explosives. Toluene is also used as a solvent for gums and lacquers. Toluene is a colorless flammable liquid obtained from coal tar or petroleum. The main types of toluene are benzene and xylene, solvents, gasoline additives, TDI (toluene diisocyanate), trinitrotoluene, benzoic acid, and benzaldehyde. Benzoic acid is a white crystalline acid C6H5COOH found naturally or made synthetically and used mainly as a preservative of foods, as an antifungal agent in pharmaceuticals, and in organic synthesis. The production process is the reformation process, pig’s process, coke/coal process, and styrene process. The various applications are drugs, dyes, blending, cosmetic nail products, and other applications (TNT, pesticides, and fertilizers). The end-use industries are building and construction, automotive, oil, and gas, and consumer appliances. The global toluene market size is expected to grow from $26.35 billion in 2021 to $27.44 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The global toluene market size is expected to grow to $31.92 billion in 2026 at a CAGR of 3.9%. The emerging demand for aromatics in the petrochemical industry contributed to the growth of the toluene market. Aromatics are petroleum-derived forms of hydrocarbons, composed primarily of carbon and hydrogen elements. Toluene is a common aromatic, used as a chemical feedstock, solvents, and fuel additive in the chemical industry. To cater to the growing demand, companies are investing in expanding their production capacity. For instance, in March 2019, Fortrec, a Singapore-based chemical company acquired aromatic solvents refinery in Ulsan, Korea. The plant has an annual capacity of 60,000 tons of aromatic solvents and will be expanded further to meet the increasing demand from customers. The growing demand for aromatics in end-use industries is growing and thereby driving the toluene market. Fluctuations in crude oil prices have always been a major challenge in the toluene market as selected fractions of petroleum are used as raw material for producing toluene. Toluene prices are constantly changing owing to factors such as instability in the prices of crude oil and variations in demand and supply. For instance, in November 2019, crude oil prices increased by 0.86% per barrel in futures trade. This rise will increase the operating expense and thereby impact the growth of the toluene market. Toluene di-isocyanate is increasingly being used as raw materials in the manufacturing of flexible foam applications. Toluene di-isocyanate (TDI) is a chemical used in polyurethanes production, especially in flexible foam applications such as furniture, bedding, and also in packaging applications. According to 'The Furnishing Report' in the UK, Toluene di-isocyanate is one of the main ingredients used in the manufacturing of flexible polyurethane foams, one of the key components used in the UK furniture manufacturing industry. Increasing the use of toluene di-isocyanate will contribute to the growth of the market. In October 2019, Chrysaor Holdings Limited, a UK-based company specializing in the production and exploration of oil and gas resources, acquired ConocoPhillips’ UK oil and gas business for $2.68 billion. The acquisition is expected to help Chrysaor Holdings Limited in positioning it as the largest oil and gas producer in the UK North Sea with a production capacity of more than 180,000 boepd. ConocoPhillips is a USA-based company that specializes in processing, refining, and marketing crude oil, natural gas, and producing petroleum products such as toluene. Major players in the toluene market are Exxon Mobil Corporation, Sinopec, Royal Dutch Shell PLC, Reliance Industries, BASF SE, Valero Energy, BP Chemicals, China National Petroleum, Mitsui Chemicals, Chevron Phillips, and Nova Chemicals. Asia Pacific was the largest region in the toluene market in 2021. The Middle East was the second-largest region in the global toluene market. The regions covered in the global toluene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the Toluene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global toluene market is segmented - 1) By Type: Benzene and Xylene, Solvents, Gasoline Additives, TDI (Toluene diisocyanate), Trinitrotoluene, Benzoic Acid, Benzaldehyde 2) By Production Process: Reformation Process, Pigs Process, Coke/Coal Process, Styrene Process 3) By Application: Drugs, Dyes, Blending, Cosmetic Nail Products, Others (TNT, Pesticides, Fertilizers) 4) By End-User Industry: Building and Construction, Automotive, Oil and Gas, Consumer Appliances

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. Desiccant materials include silica gel, zeolite, activated alumina, activated charcoal, calcium chloride, clay, and others. The main types of desiccants are silica gel, zeolite, activated alumina, activated charcoal, calcium chloride, clay, and other types. Silica gel is defined as a non-crystalline and highly porous form of silica that is used for removing moisture from liquids and gases. It is used as a drying agent that protects certain commercial and food products. The major processes of desiccants include physical adsorption and chemical absorption. The various applications of desiccants include electronics, food, pharmaceutical, packing, air and gas drying, and other applications. The global desiccants market size is expected to grow from $0.145 billion in 2021 to $0.154 billion in 2022 at a compound annual growth rate (CAGR) of 6.0%. The global desiccant market size is expected to grow to $0.19 billion in 2026 at a CAGR of 4.9%. Increasing demand for desiccants in the packaging industry combined with that in consumer products drives the growth of the desiccants market. Desiccants packets are tiny sachets that contain bentonite clay, silica gel, molecular sieve, or other absorbent products to protect goods from humidity, moisture, odors, and other damaging elements. High humidity and moisture in the air lead to product damage in consumer goods, medical devices, and pharmaceutical products. High-cost investment for setting up machinery is restraining the growth of the desiccants market. An increase in machinery setup cost increases the production cost of the desiccants. This may increase the end-user cost. Thus, restraining the growth of the market. Rising demand for desiccants in pharmaceuticals, chemicals, food, and beverages to control humidity in manufacturing and processing products. The rise in carbon percent and increased atmospheric temperature causes damage to products due to high moisture content in the atmosphere. Various methods of dehumidification are used by these industries to avoid moisture contents in close vicinity. For example, desiccant wheels are the most effective and economical methods used to control humidity levels for these industries. Desiccants are compounds or agents used to facilitate a low humidity environment by absorbing moisture content from the air during the storage or maintenance of materials and products. Desiccants are used in the pharmaceutical process chain. The correct selection and use of a desiccant can prevent chemical reactions and ensure the integrity and performance of finished products. For example, Pradaxa (dabigatran etexilate mesylate) is packaged in a bottle containing a 30-day supply with a desiccant (drying agent) in the cap to help keep moisture away from the capsules. In November 2019, Arsenal Capital Partners, a US-based private equity firm, acquired the healthcare packaging business of Clariant. With this acquisition, Arsenal Capital Partners rebranded the healthcare packaging business name to Airnov and aims at offering a wide range of anti-oxidation products for nutraceutical, diagnostic, and pharmaceutical markets. Major players in the desiccants market are Porocel, Dow Chemical, INEOS, Fuji Silysia Chemical, Hengye Molecular Sieve, Qingdao Makll, Zeotec Adsorbents Private Limited, and Desicca Chemicals. Asia Pacific was the largest region in the desiccants market in 2021. North America was the second-largest region in the desiccant market. The regions covered in the desiccants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the desiccants market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global desiccants market is segmented - 1) By Type: Silica Gel, Zeolite, Activated Alumina, Activated Charcoal, Calcium Chloride, Clay, Others 2) By Process: Physical Absorption, Chemical Absorption 3) By Application: Electronics, Food, Pharmaceutical, Packing, Air and Gas Drying, Others