Global Desiccants Market - WishTree Insight

Global Desiccants Market by Type (Activated Alumina, Zeolite, Silica Gel, Calcium Chloride, Activated Charcoal, and Others), End-User (Pharmaceutical, Electronics, Packaging, Food, and Others), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Desiccants market size was valued at USD 1.0 billion in 2021 and is expected to surpass USD 1.6 billion by 2031, expanding at a CAGR of 5.0 % during the forecast period, 2021–2031. The market's growth is attributed to the rising demand for desiccants in various industries.

INTRODUCTION

Desiccants are drying agents that remove moisture from materials. They are insoluble compounds or solvents that absorb moisture. Desiccants protect the material or content of the sealed package from humidity. Therefore, the packet of silica gel and desiccants are included in sealed products. Desiccants store their weight in moisture and absorb a significant amount of humidity within the container. They are used in regenerative drying, waste removal & cleaning, and moisture removal. Moisture, scents, dampness, and other harmful factors can be protected from merchandise using desiccant packets. These sachets usually contain molecular strainers, silica gel, bentonite clay, or other absorbent products.

Market Trends, Drivers, Restraints, and Opportunities

• Rise in demand for desiccants in the packaging business, especially in pharmaceuticals and food packaging is expected to propel the market.
• Increase in the use of desiccants in the chemical sector and in air conditioning systems is anticipated to propel the desiccants market.
• Manufacturers in the electronic industry are working hard to reduce the moisture effect on their products and are expected to drive the market.
• Increase in the use of desiccants in the chemical sector and in air conditioning systems is driving the global desiccants market.

Scope of the Report

Market Segment Insights

The silica gel segment is projected to register a considerable CAGR 4.4%

Based on type, the desiccants market is divided into activated alumina, zeolite, silica gel, calcium chloride, activated charcoal, and others. The silica gel segment is expected to expand at a rapid pace during the forecast period owing to its industrial use in electronics, packaging, and pharmaceuticals. However, the activated alumina segment is anticipated to hold a key share of the market in the coming years.

The food industry segment is expected to expand at a rapid pace

Based on end-user, the desiccant market is divided into pharmaceutical, electronics, packaging, food, and others. The food industry segment is expected to expand at a rapid pace during the forecast period. However, the pharmaceutical segment is anticipated to hold a key share of the market in the coming years owing to increased demand from the pharmaceutical manufacturer as desiccants remove moisture in pharmaceutical packaging.

North American region is anticipated to constitute a key market share

In terms of regions, the desiccant market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America contributed a market share of 27.8 % in 2021 and is expected to constitute a key share of the market during the projected period. However, the market of the Asia Pacific is anticipated to expand at a rapid pace during the forecast period. The growth of the market in the region is attributed to the increasing demand for food and electronic products propelling the desiccant market in the region.

Competitive Landscape

Key players competing in the Desiccants market are Fuji Silysia Chemical Ltd (Japan); Tropack Packmitel GmbH (Germany); Multisorb Technologies (U.S.); Oker- Chemie GmbH (Germany); Capitol Scientific, Inc. (U.S.); Evonik Industries (Germany).

FAQs

How much is the market worth?

The Desiccants market size was valued at USD 1.0 billion in 2021 and is expected to surpass USD 1.6 billion by 2031.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 5.0%.

What are the key drivers of the market?

The market's growth is attributed to the rising demand of desiccants in various industries.

What segments are covered in the Desiccants report?

The segments covered in the report are type (activated alumina, zeolite, silica gel, calcium chloride, activated charcoal, and others), and end-user (pharmaceutical, electronics, packaging, food, and others).

Mention which region is expected to hold the highest share of the Desiccants market.

The North American region is expected to hold the highest share of the Desiccants market.

Mention the key players in the market.

Fuji Silysia Chemical Ltd (Japan); Tropack Packmittel GmbH (Germany); Multisorb Technologies (U.S.); Oker- Chemie GmbH (Germany); Capitol Scientific, Inc. (U.S.); Evonik Industries (Germany)