The Desiccants Global Market Report 2023 by The Business Research Company, provides desiccants market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Desiccants Global Market Report 2023, the global desiccants market size 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the desiccants is expected to grow from $0.2 billion in 2027 at a CAGR of 5.4%.Increasing demand for desiccants in the packaging industry combined with that in consumer products drives the desiccants market growth. 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.
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The desiccants market 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, Air & Gas Drying, Other Applications
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 desiccants industry.
The desiccants market report table of contents includes:
1. Executive Summary
2. Desiccants Market Characteristics
3. Desiccants Market Trends And Strategies
4. Desiccants Market – Macro Economic Scenario
5. COVID-19 Impact On Desiccants Market
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26. Africa Desiccants Market
27. Desiccants Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Desiccants Market
29. Desiccants Market Future Outlook and Potential Analysis
30. Appendix
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