The global desiccant market was valued at $1.1 billion in 2022 and is projected to reach $1.8 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.
The term "desiccants" refers to hygroscopic materials or goods. Desiccants absorb the ambient moisture from the environment. By absorbing moisture, they minimize humidity and assist in avoiding the damage caused by moisture to goods. Physical absorption is the process, by which desiccants absorb moisture and trap it within surfaces or capillaries without altering the water's properties. However, certain desiccants absorb moisture and react with it to generate a new substance. This process is known as chemical absorption. Physical moisture absorption is reversible, while chemical absorption is irreversible. Desiccants such as zeolites, silica gel, and others function through physical absorption, whereas magnesium sulfate, calcium chloride, and others function through chemical absorption.
In the oil and gas industry, activated alumina is used to eliminate water from natural gas streams. Natural gas is regarded as the fastest-growing energy source in the U.S. The establishment of new refinery initiatives is anticipated to be the primary growth driver for the activated alumina. China produced roughly 4 million barrels of oil per day in 2021, according to BP statistics. State-owned corporations, such as China National Offshore Oil Corp., dominate the China oil industry. In addition, China National Offshore Oil Corporation (CNOOC) oil and gas production increased by more than 6% annually between 2022 and 2024, playing a crucial position in China's energy supply security.
The government of India has implemented a variety of plans to satisfy the rise in demand for oil and gas. It has permitted 100 % foreign direct investment (FDI) in a number of industry segments, including natural gas, petroleum products, and refineries. According to the International Energy Agency, global oil demand is expected to reach 104.1 mb/d (million barrels per day) by 2026, with China and India accounting for approximately half of the growth through that year, thereby contributing to market expansion in the future. Thus, the demand for activated alumina is anticipated to expand substantially during the forecast period.
To manufacture desiccant, it is necessary to set up the necessary machinery, which results in significant initial investment expenses. In addition, regular maintenance of these machines is required, which contributes to an increase in the overall cost of manufacturing. Thus hampering the growth of the desiccant market. Desiccants are substances that draw moisture out of their surroundings and, as a result, provide a health risk if they come into contact with human skin. As a result, handling these substances requires extreme caution. As a consequence of this, particular packaging materials for desiccants are required to guarantee the highest possible level of safety.
The desiccant market is poised to capitalize on lucrative opportunities owing to the rise in demand in the chemical sector and the air conditioning industry. In the chemical sector, desiccants play a crucial role in maintaining the integrity of various chemical compounds and preventing moisture-induced degradation, ensuring product quality and shelf life. In addition, the air conditioning system presents a promising avenue for desiccant utilization. Desiccants are integral components in advanced air conditioning systems, effectively removing excess moisture from the air, and enhancing cooling efficiency. As energy-efficient and eco-friendly air conditioning solutions gain traction, the demand for desiccants in these systems is projected to rise. This dual opportunity, driven by the chemical sector's need for moisture control and the expanding air conditioning market, positions the desiccant industry for robust growth and innovation. Manufacturers and stakeholders can strategically align their efforts to tap into these emerging prospects and further propel the desiccant market growth.
The desiccant market is segmented into type, end-use industry, and region. Depending on the type, the market is divided into silica gel, activated alumina, activated charcoal, zeolite, calcium chloride, clay, and others. On the basis of the end-use industry, it is categorized into packaging, food, pharmaceutical, electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, And LAMEA.
The major players operating in the global desiccant market are Fuji Silysia Chemical Ltd., Hengye, Inc., TROPACK Packmitel GmbH, CLARIANT, Capitol Scientific, Inc. Multisorb, OKER-CHEMIE, Evonik Industries AG, Desicca Chemical Pvt. Ltd., and W. R. Grace & Co.-Conn. Other players include Porocel Corporation, The Dow Chemical Company, INEOS Corporation, Qingdao Makll Group, Zeotec Adsorbents Private Limited,AGM Container Controls, Delta Adsorbents, and others.
The term "desiccants" refers to hygroscopic materials or goods. Desiccants absorb the ambient moisture from the environment. By absorbing moisture, they minimize humidity and assist in avoiding the damage caused by moisture to goods. Physical absorption is the process, by which desiccants absorb moisture and trap it within surfaces or capillaries without altering the water's properties. However, certain desiccants absorb moisture and react with it to generate a new substance. This process is known as chemical absorption. Physical moisture absorption is reversible, while chemical absorption is irreversible. Desiccants such as zeolites, silica gel, and others function through physical absorption, whereas magnesium sulfate, calcium chloride, and others function through chemical absorption.
In the oil and gas industry, activated alumina is used to eliminate water from natural gas streams. Natural gas is regarded as the fastest-growing energy source in the U.S. The establishment of new refinery initiatives is anticipated to be the primary growth driver for the activated alumina. China produced roughly 4 million barrels of oil per day in 2021, according to BP statistics. State-owned corporations, such as China National Offshore Oil Corp., dominate the China oil industry. In addition, China National Offshore Oil Corporation (CNOOC) oil and gas production increased by more than 6% annually between 2022 and 2024, playing a crucial position in China's energy supply security.
The government of India has implemented a variety of plans to satisfy the rise in demand for oil and gas. It has permitted 100 % foreign direct investment (FDI) in a number of industry segments, including natural gas, petroleum products, and refineries. According to the International Energy Agency, global oil demand is expected to reach 104.1 mb/d (million barrels per day) by 2026, with China and India accounting for approximately half of the growth through that year, thereby contributing to market expansion in the future. Thus, the demand for activated alumina is anticipated to expand substantially during the forecast period.
To manufacture desiccant, it is necessary to set up the necessary machinery, which results in significant initial investment expenses. In addition, regular maintenance of these machines is required, which contributes to an increase in the overall cost of manufacturing. Thus hampering the growth of the desiccant market. Desiccants are substances that draw moisture out of their surroundings and, as a result, provide a health risk if they come into contact with human skin. As a result, handling these substances requires extreme caution. As a consequence of this, particular packaging materials for desiccants are required to guarantee the highest possible level of safety.
The desiccant market is poised to capitalize on lucrative opportunities owing to the rise in demand in the chemical sector and the air conditioning industry. In the chemical sector, desiccants play a crucial role in maintaining the integrity of various chemical compounds and preventing moisture-induced degradation, ensuring product quality and shelf life. In addition, the air conditioning system presents a promising avenue for desiccant utilization. Desiccants are integral components in advanced air conditioning systems, effectively removing excess moisture from the air, and enhancing cooling efficiency. As energy-efficient and eco-friendly air conditioning solutions gain traction, the demand for desiccants in these systems is projected to rise. This dual opportunity, driven by the chemical sector's need for moisture control and the expanding air conditioning market, positions the desiccant industry for robust growth and innovation. Manufacturers and stakeholders can strategically align their efforts to tap into these emerging prospects and further propel the desiccant market growth.
The desiccant market is segmented into type, end-use industry, and region. Depending on the type, the market is divided into silica gel, activated alumina, activated charcoal, zeolite, calcium chloride, clay, and others. On the basis of the end-use industry, it is categorized into packaging, food, pharmaceutical, electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, And LAMEA.
The major players operating in the global desiccant market are Fuji Silysia Chemical Ltd., Hengye, Inc., TROPACK Packmitel GmbH, CLARIANT, Capitol Scientific, Inc. Multisorb, OKER-CHEMIE, Evonik Industries AG, Desicca Chemical Pvt. Ltd., and W. R. Grace & Co.-Conn. Other players include Porocel Corporation, The Dow Chemical Company, INEOS Corporation, Qingdao Makll Group, Zeotec Adsorbents Private Limited,AGM Container Controls, Delta Adsorbents, and others.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the desiccant market analysis from 2022 to 2032 to identify the prevailing desiccant market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the desiccant market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global desiccant market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Silica Gel
- Activated Alumina
- Activated Charcoal
- Zeolite
- Calcium Chloride
- Clay
- Others
By End-use industries
- Packaging
- Food
- Pharmaceutical
- Electronics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Fuji Silysia Chemical Ltd.
- Hengye, Inc.
- TROPACK Packmitel GmbH
- CLARIANT
- Capitol Scientific, Inc.
- Multisorb
- OKER-CHEMIE
- Evonik Industries AG
- Desicca Chemical Pvt. Ltd.
- W. R. Grace & Co.-Conn.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DESICCANT MARKET, BY TYPE
CHAPTER 5: DESICCANT MARKET, BY END-USE INDUSTRIES
CHAPTER 6: DESICCANT MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the desiccant market was valued at $1.1 billion in 2022, and is estimated to reach $1.8 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.Desiccants are hygroscopic (water-loving) compounds. It absorbs moisture reduces humidity from the environment and prevents products from being damaged. Physical absorption is a process where desiccant absorbs moisture and holds it within surfaces or capillaries without affecting the properties of water.
However, chemical absorption occurs when some desiccants absorb moisture and react with it to generate a new mixture. Chemical moisture absorption is irreversible, whereas physical moisture absorption is reversible. Desiccants such as zeolites, silica gel, and other similar materials function by physically absorbing moisture, whereas desiccants such as magnesium sulfate and calcium chloride work by chemically absorbing moisture.
The pharmaceutical industry is witnessing a substantial surge in demand for desiccants, driven by their pivotal role in maintaining the quality and efficacy of pharmaceutical products. Desiccants are crucial in preventing moisture-related damage to medicines, vaccines, and medical devices, which are highly sensitive to even slight fluctuations in humidity. As pharmaceutical products often undergo long journeys through various climatic conditions, the risk of degradation due to moisture absorption remains a significant concern. Desiccants help to counteract this risk by effectively absorbing excess moisture and maintaining the stability and integrity of the products.
Moreover, advancements in pharmaceutical R&D have led to the production of more intricate and delicate medications, many of which are prone to deterioration when exposed to moisture. As precision and efficacy become paramount in drug formulations, the demand for enhanced moisture control solutions intensifies. This has prompted pharmaceutical manufacturers to prioritize the integration of desiccant technologies into their packaging and storage processes to ensure the longevity and effectiveness of their products. According to the National Bureau of Statistics, in 2021, China’s pharmaceutical industry’s value-added increased by 24.8% over the previous year.
Furthermore, according to the India Brand Equity Foundation (IBEF), in 2021, India’s pharmaceutical industry was worth $42 billion. It is expected to grow to $65 billion by 2024 and to more than $120 billion by 2030. The pharmaceutical industry in India is currently valued at $41 billion. The growth of the pharmaceutical industry coupled with investments such as the Production Link Incentive (PLI) scheme in India by the Government of India for enhancing India’s manufacturing capabilities and enhancing exports is driving the desiccant market in the Asia-Pacific region. These initiatives by the government and the growing concern for health are contributing to the growth of the desiccant market in the Asia-Pacific region. In addition to safeguarding product quality, regulatory standards, and compliance play a critical role in driving the demand for desiccants in the pharmaceutical sector. Thus, the expanding pharmaceutical sector with its increasing demand for desiccant is expected to drive the growth of the desiccant market during the forecast period.
To manufacture desiccant, it is necessary to set up the necessary machinery, which results in significant initial investment expenses. In addition, regular maintenance of these machines is required, which contributes to an increase in the overall cost of manufacturing. Thus hampering the growth of the desiccant market. Desiccants are substances that draw moisture out of their surroundings and, as a result, provide a health risk if they come into contact with human skin. As a result, handling these substances requires extreme caution. As a consequence of this, particular packaging materials for desiccants are required to guarantee the highest possible level of safety.
The desiccant market is poised to capitalize on lucrative opportunities owing to the rise in demand in the chemical sector and the air conditioning industry. In the chemical sector, desiccants play a crucial role in maintaining the integrity of various chemical compounds and preventing moisture-induced degradation, ensuring product quality and shelf life. In addition, the air conditioning system presents a promising avenue for desiccant utilization. Desiccants are integral components in advanced air conditioning systems, effectively removing excess moisture from the air, and enhancing cooling efficiency. As energy-efficient and eco-friendly air conditioning solutions gain traction, the demand for desiccants in these systems is projected to rise. This dual opportunity, driven by the chemical sector's need for moisture control and the expanding air conditioning market, positions the desiccant industry for robust growth and innovation. Manufacturers and stakeholders can strategically align their efforts to tap into these emerging prospects and further propel the desiccant market growth.
The desiccant market is segmented into type, end-use industry, and region. Depending on the type, the market is divided into silica gel, activated alumina, activated charcoal, zeolite, calcium chloride, clay, and others. On the basis of the end-use industry, it is categorized into packaging, food, pharmaceutical, electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, And LAMEA.
The major players operating in the global desiccant market are Fuji Silysia Chemical Ltd., Hengye, Inc., TROPACK Packmitel GmbH, CLARIANT, Capitol Scientific, Inc. Multisorb, OKER-CHEMIE, Evonik Industries AG, Desicca Chemical Pvt. Ltd., and W. R. Grace & Co.-Conn. Other players include Porocel Corporation, The Dow Chemical Company, INEOS Corporation, Qingdao Makll Group, Zeotec Adsorbents Private Limited, AGM Container Controls, Delta Adsorbents, and others.
Key Findings of the Study
:On the basis of type, the activated alumina segment is expected to grow at a CAGR of 7.3%, in terms of revenue, during the forecast period.Depending on the end-use industry, the pharmaceutical segment is expected to grow at a CAGR of 5.8%, in terms of revenue, during the forecast period.
Region-wise, Asia-Pacific garnered a major share in 2022 in terms of revenue.
Companies Mentioned
- Fuji Silysia Chemical Ltd.
- Hengye, Inc.
- TROPACK Packmitel GmbH
- CLARIANT
- Capitol Scientific, Inc.
- Multisorb
- OKER-CHEMIE
- Evonik Industries AG
- Desicca Chemical Pvt. Ltd.
- W. R. Grace & Co.-Conn.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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