The growing demand for absorbent pads in the food & agriculture end-use industry to drive the growth of the global absorbent pads market during the forecast period.
Globally, the revenue generated by the absorbent pads market has been estimated to be over US$ 2.0 Bn in 2019 and is expected to increase at a CAGR of 5.1% in terms of value throughout the forecast period.
Absorbent Pads – Market Dynamics
Absorbent pads are gaining significant popularity in end-use industries such as food & agriculture, oil and gas, chemicals, medical, and others, as these are perfect for clean-up and maintenance of drips, inevitable leaks, and spills generated in the workplace during handling, transporting, dispensing, and storing liquids. Such factors are expected to drive the growth of the global absorbent pads market during the forecast period. Exceptional characteristics of absorbent pads such as sturdiness, durability, ease of use, inertness towards absorbed liquid, and reusability make them an ideal choice for industries to improve productivity and safety at the workplace. These are likely to escalate the growth of the global absorbent pads market during the forecast period.
The demand for absorbent pads is increasing in the packaging of meat, poultry, and seafood as they can absorb the dripping water and ensure hygiene. The absorbed liquids are locked-in physically and cannot enter the package. This makes absorbent pads a safe and convenient choice for packaging of meat, poultry, and seafood. Also, absorbent pads are made from FDA-approved natural cellulose fiber, which is further expected to drive the growth of the global absorbent pads market during the forecast period.
The availability of different absorbent pads such as universal absorbent pads, oil absorbent pads, chemical absorbent pads, and hazmat absorbent pads can easily fulfill the needs of various end-user industries. For example, oil absorbent pads are designed for quick oil absorption, which addresses the oil spillage problem. Hence, these are widely used in the oil and gas industry. The use of chemical absorbent pads to absorb various chemicals is also increasing. Hazmat absorbent pads are designed for the absorption of hazardous liquids. Hence, such absorbent pads are proven to improve efficiency and safety at work premises. Thus, the increasing adoption of absorbent pads is likely to drive the growth of the global absorbent pads market during the forecast period.
The Volume of the Global Absorbent Pads Market Is Expected to Expand 1.45x over the Forecast Period
Regardless of the optimistic outlook, the rising number of players in the absorbent pads manufacturing business and increasing instability in raw material prices are probable to hinder the growth of the global absorbent pads market during the forecast period. The increasing number of local players in the absorbent pads market have led to a price reduction, which eventually shrinks the profitability margin of manufacturers. Also, the absorbent pads manufactured from plastic material are not eco-friendly and possess environmental threats. Such factors have the potential to hamper the growth of the global absorbent pads market throughout the forecast period.
Establishing a long-term relationship with raw material suppliers and finding eco-friendly raw material sources is essential for absorbent pad manufacturers to sustain in the heavy competition. Thus, manufacturers of absorbent pads must channelize their efforts towards it.
The Value of the Global Absorbent Pads Market Is Expected to Expand 1.48x over the Forecast Period
Absorbent Pads Market – Competition Dashboard
Detailed profiles of manufacturers of absorbent pads are also included in the report to evaluate their key product offerings, financials, recent developments, and strategies. Key players operating in the global absorbent pads market include Novipax LLC, 3M Company, Brady Corporation, Oil-Dri Corporation of America, Prima SRL, Trico Corporation, Sirane Limited, Azapak, Fentex Ltd, ESP US, MAGIC srl, Pactiv LLC, Gelok International Corporation, W. Dimer GmbH, CoCopac Limited, Meltblown Technologies Inc., Cellcomb AB, and Johnson Matthey Plc. among others.
Absorbent Pads Market – Key Trends
Few of the key developments observed among the manufacturers of absorbent pads are:
- Manufacturers such as 3M Company and Gelok International Corporation are leveraging their core technology to enhance the absorbency of pads.
- 3M Company is focusing on the development of absorbent pads made from microfiber material, which contains millions of small pores that can hold a significant amount of liquid for a long time. This micro-bundle technology is expected to double the capacity of absorbent pads effectively.
- Gelok International Corporation is striving to improve the absorbency of their absorbent pads by using a variety of superabsorbent polymers during manufacturing.
- Customized and specialized absorbent pads are preferred as they help in fulfilling customer-specific needs. Absorbent pads manufacturers are also emphasizing on the manufacturing of eco-friendly absorbent pads.
In the global absorbent pads market report, we have discussed individual strategies, followed by company profiles of the manufacturers of absorbent pads. The ‘Competitive Landscape’ section is included in the absorbent pads market report to provide report audiences with a dashboard view and a company market share analysis of top manufacturers operating in the global absorbent pads market.