Overview and Scope
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.
Sizing and Forecast
The desiccants market size has grown strongly in recent years. It will grow from $0.16 billion in 2023 to $0.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the rise in disposable income, growth in the pharmaceutical industry, the increasing industrialization, growth in the packaging industry and rapid growth in e-commerce.
The desiccants market size is expected to see strong growth in the next few years. It will grow to $0.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to the increasing government support, the increasing demand from the chemical industries, the rise in the global population and rapid urbanization. Major trends in the forecast period include advanced desiccant breathers, product innovations, new bio-based moisture-adsorbing packets, technology advancements and focus on launching innovative desiccant packaging.
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Segmentation & Regional Insights
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
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
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Major Driver Impacting Market Growth
The rise in textile manufacturing is expected to propel the growth of the desiccants market going forward. Textile manufacturing is a process that involves the conversion of fibers into yarn, and then yarn into fabric. Desiccants can be used to control humidity in textile manufacturing and storage to prevent mold growth and maintain fabric quality. For instance, according to the National Council of Textile Organizations, a US-based mobilizing support for the textile industry, textile and apparel shipments totalled $65.8 billion in 2022. Additionally, fiber, textile, and apparel exports combined were $34.0 billion in 2021. Thus, the rise in textile manufacturing is driving the growth of the desiccants market.
Key Industry Players
Major companies operating in the desiccants market report are 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.
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. Global Desiccants Market Size and Growth
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31. Desiccants Market Other Major And Innovative Companies
32. Global Desiccants Market Competitive Benchmarking
33. Global Desiccants Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Desiccants Market
35. Desiccants Market Future Outlook and Potential Analysis
36.Appendix
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