Desiccants Global Market Report 2023

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15 Feb, 2023, 10:00 ET

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NEW YORK, Feb. 15, 2023 /PRNewswire/ -- 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.

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The global desiccants market will grow from $0.15 billion in 2022 to $0.16 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The desiccants market is expected to grow from $0.2 billion in 2027 at a CAGR of 5.4%.

The desiccant market consists of the sales of indicating silica gel, molecular sieves, calcium oxide and calcium sulfate, montmorillonite clay, and nitrogen desiccants.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The desiccant refers to a hygroscopic substance used to absorb the moisture from the surroundings and prevent the products from getting damaged due to moisture. The desiccants are generally used to keep items dry and stable.

Asia Pacific was the largest region in the desiccants market in 2022.North America was the second-largest region in the desiccants 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 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, pharmaceuticals, packing, air and gas drying, and other applications.

Increasing demand for desiccants in the packaging industry combined with that in consumer products drives the growth of the desiccant market.Desiccant 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 desiccant market.An increase in machinery setup costs increases the production cost of the desiccants.

This may increase the end-user price. Hence, restricting the growth of the market.

There is 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 cause damage to products due to the high moisture content in the atmosphere.

Various methods of dehumidification are used by these industries to avoid moisture content in their close vicinity. For example, desiccant wheels are the most effective and economical method 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 October 2022, Ingersoll Rand Inc, an American pumps and pumping equipment company agreed to acquire Air Treatment business of SPX Flow for $525 million.The acquisition expands the product offerings of Ingersoll Rand and enables future growth.

Air Treatment business of SPX Flow provides desiccant and refrigerated dryers, filtration systems and purifiers. SPX Flow is a US-based provider of engineered flow components, process equipment, and turn-key systems.

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 market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The desiccants market research report is one of a series of new reports that provides desiccants market statistics, including desiccants industry global market size, regional shares, competitors with a desiccants market share, detailed desiccants market segments, market trends and opportunities, and any further data you may need to thrive in the desiccants industry. This desiccant market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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