Globally, the revenue generated by the absorbent pads market has been estimated to be over US$ 2.1 Bn in 2019 and is expected to increase at a CAGR of 5.3% in terms of value throughout the forecast period 2020 to 2027.
The study has considered the base year as 2019, which estimates the market size of market and the forecast period is 2020 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.
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.
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.
Increasing Knowledge about Absorbent Pads’ Characteristics to Support Growth
Absorbent pads are excellent for the cleaning and maintenance of drips and inevitable spills and leaks at factories and production sites while handling, storing, dispensing, and transporting fluid or liquid products. The increasing knowledge about these properties of absorbent pads among end users is boosting the growth of the global absorbent pads market. Various characteristics of absorbent pads, such as durability, sturdiness, usability, easy recycling, and nonreactivity with absorbed liquid, make them perfect for industries looking to improve safety and productivity at the workplace. Absorbent pads are witnessing a rise in their demand in the packaging of poultry, meat, and seafood, which is expected to propel the worldwide absorbent pads market over the next few years, states the report.
Volatile Prices of Raw Material to Cause Hinderance
The global absorbent pads market is, although, displaying a healthy growth rate, it may face a serious challenge in the near future from the volatile prices of raw materials. The increasing entry of new participants in absorbent pads production business, which is reducing the profitability margin of existent players, may also hamper the growth of this market to some extent over the next few years. In addition to this, the environmental threats posed by plastic absorbent pads are likely to limit their demand to a certain degree, which will cause a slowdown the market’s growth in the years to come, reports the research study.
The Absorbent Pads market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Absorbent Pads market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Absorbent Pads market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Absorbent Pads market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Absorbent Pads market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Absorbent Pads capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Absorbent Pads by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Absorbent Pads market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Absorbent Pads market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Absorbent Pads market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Absorbent Pads industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Absorbent Pads market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Absorbent Pads market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Absorbent Pads market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Absorbent Pads market. These factors have benefited the growth of the global market for Absorbent Pads. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Absorbent Pads. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Absorbent Pads are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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