Reusable oil absorbents market is expected to gain traction over the forecast period owing to increasing industrialization and growing demand from the oil and gas sector. Reusable oil absorbent’s mats, pads and socks soak the waste oil to prevent slips and falls.
Reusable oil absorbents follow a closed loop laundering process, where the recovered oils are recycled and the absorbents are cleaned and used again and again for absorbing oil. The different benefits of reusable oil absorbents are low cost compared to disposals, they save time with a managed program, prevent slips, trips and falls and eliminate the waste stream.
Reusable oil absorbents are available in different types, such as mats, pads, absorbent socks, absorbent cushion and absorbent booms. These absorbents are used by various end users involving oil & gas, food and beverage and chemicals. Oil absorbent pads are used for low lint applications and in traffic areas as they are ideal in repelling the water-based fluids.
Drivers:
Growing industrialization is anticipated to be a major factor that drives the growth of the reusable oil absorbents market over the forecast period. Moreover, regulations regarding safety of workers in a workplace will also give traction to the growth of reusable oil absorbent market in the near future, as oil absorbents soak the waste oils on the floor and to prevent slips and falls. Furthermore, reusable oil absorbents are cost-effective and can be reused. This is expected to drive the growth of reusable oil absorbents market over the forecast period. That apart, the different benefits of reusable oil absorbents such as non-toxic, non-leaching and repealing of water will further drive the growth of the reusable oil absorbents market over the forecast period.
Restraint:
Lack of awareness in different application is expected to be a factor that hampers the growth of reusable oil absorbents market over the forecast period. Moreover, synthetic fiber oil absorbents are less effective on medium oils, which is yet another factor to hinder the growth of the reusable oil absorbents market during the forecast period. Furthermore, few industries do not use oil absorbents at the workplace, which hampers the growth of the reusable oil absorbents market.
North America will be closely followed by Asia Pacific during the forecast period. Both of these markets are projected to witness immense growth in the reusable oil absorbents market owing to increasing demand of absorbent mats and pads. Western Europe, in particular, is expected to witness growth in the reusable oil absorbents market due to the expected growth in the oil & gas industry during the forecast period.
Latin America is expected to grow at a significant CAGR during the forecast period owing rapid industrialization in the region. Middle East and Africa and Japan are expected to support the growth of the reusable oil absorbents market over the forecast period.
Examples of some of the market participants identified across the value chain of the global reusable oil absorbents market include:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global reusable oil absorbents market can be segmented based on type, material, application and end user.
By type, the reusable oil absorbents market can be segmented into:
By material, the reusable oil absorbents market can be segmented into:
By application, the reusable oil absorbents market can be segmented into:
By end use, the reusable oil absorbents market can be segmented into:
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Reusable Oil Absorbents Market
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