The Global Polymeric Adsorbent Market is segmented on the basis of type, end use industry, and region. On the basis of type, the market is divided modified Aromatic (brominated aromatic matrix), aromatic (cross-linked polystyrenic matrix), and methacrylic (methacrylic ester copolymer), and others. Among these types, the modified aromatic adsorbent is holding major share of the overall demand of polymeric adsorbents. During the forecast period, this segment is expected to grow at highest CAGR. This is attributed to it low cost and major usage in end use industry in such as pharmaceutical. Its exhibits greater hydrophobicity and suitable for adsorption of organic substances of very low concentration. Aromatic adsorbent is another significant type polymeric adsorbent. It is based on cross-linked polystyrenic matrix. They are widely used in different industrial applications including extraction of antibiotic intermediates from fermentation broth, separation of peptides, and reduce bittering of citrus juice. Growing food & beverages industry is growing at significantly higher rate, which may fuel the demand of aromatic polymer adsorbents.
Based on end use industry, the Global Polymeric Adsorbent Market is segmented into pharmaceuticals, food & beverages, textile, and chemicals, among the others. Among these end use industries, pharmaceutical industry is growing at highest CAGR. This attributed to a growing use of polymeric adsorbent in separation and purification processes to recover more essential material and discharge less harmful effluent. Global pharmaceutical market is estimated to reach ~USD 1.2 trillion by the end of 2023. This is expected to boost the demand of polymeric adsorbents. Food & beverages industry is one of the major consumer of Polymeric Adsorbents. Polymeric adsorbents are mainly used to extract an essential bacteria and enzymes to use them in fermentation process. Global food and beverage waste management market is estimated to grow at ~6% CAGR during the forecast period, which may drive the demand of Polymeric Adsorbents. The government regulations compelling treatment of an effluent from textile and dye industry is anticipated to propel growth in demand of Polymeric Adsorbent in its global market.
Geographically, the Global Polymeric Adsorbent Market is segmented into five major regions including, Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is the largest and fastest growing region in the Global Polymeric Adsorbent Market. India and China are the leading markets in this region on account of the presence of major end use industries such as pharmaceutical and chemicals. Asian pharmaceutical market is poised to become the biggest pharmaceutical market in the world. This is attributed to an increasing amount of R&D and manufacturing that are migrating to Asia are fueling the regionís dynamic growth. World Health Organization (WHO) recently has appreciated the efforts of South East Asian countries for their pharmaceutical waste management. This is expected to further push the growth of the regional market. In addition to pharmaceutical, food and beverages industry is growing at considerable rate in the region. The growing concern of waste discharged and generated from textile and other chemicals industry has driven the authorities to put some regulatory measures in place, which is expected to fuel the demand of Polymeric Adsorbents in these industries.
North America is closely following Asia Pacific in terms of market size in the Global Polymeric Adsorbents Market. U.S. is the largest market in this region, which is attributed to the growing food & beverage industry along with the chemicals industry. The trend of packaged and processed food in this region is a major factor driving demand of Polymeric Adsorbents. Food packing also involves major use of polymeric adsorbents due to its hydrophobicity. Apart from food and beverage industry, chemical industry is also growing at sufficiently higher CAGR. The U.S chemical exports stands nearly 15% of the global chemical shipment. In coming years with the stringent measures already in place to treat waste from pharmaceutical, food & beverages and other chemical industries. Europe is holding comparatively smaller share in the Global Polymeric Adsorbent Market, on account sluggish economic growth in major end use industries in recent times. Yet, countries namely U.K., Germany, and Belgium are major markets in this region owing to the growing demand of Polymeric Adsorbents by end use industries such as food & beverages and textile industry. Apart from this, there is a significant presence of key players which may help push growth of the regional market. Latin America is anticipated to grow at significant CAGR in coming years on account of growing end use industries such as chemicals and pharmaceutical in this region. The Middle East and Africa would join hand with the leading regions in the global polymeric adsorbents market owing to the vast investment potential and growth opportunities in end use industries such as chemicals and textile.
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