The Business Research Company’s Desiccants Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON , UK, June 21, 2021 /EINPresswire.com/ — Increasing demand for desiccants in the packaging industry combined with that in consumer products drives the growth of the desiccants market. Desiccants packets are tiny sachets that contains bentonite clay, silica gel, molecular sieve, or other absorbent products to protect goods from humidity, moisture, odors and other damaging elements. High humidity and moisture in air leads to product damage in consumer goods, medical devices, and pharmaceutical products. Desiccants absorb the moisture from the surroundings and prevent the products from getting damaged due to moisture.
The global desiccant market size is expected to grow from $0.13 billion in 2020 to $0.14 billion in 2021 at a compound annual growth rate (CAGR) of 7.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The desiccants market is expected to reach $0.17 billion in 2025 at a CAGR of 5%.
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The desiccants market covered in this report includes by type the silica gel desiccants global market segment, zeolite, activated alumina, activated charcoal, calcium chloride, clay, and other segments by type. The desiccants market is also segmented by application into electronics, food, the pharmaceutical desiccant market segment, packing, air & gas drying, others and by process into physical absorption, chemical absorption.
Major players in the desiccants market are Porocel, The Dow Chemical, INEOS, Fuji Silysia Chemical, and Hengye Molecular Sieve.
Desiccants Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides desiccants global market overview, forecast desiccants global market size and growth for the whole market, desiccants global market segments, and geographies, desiccants global market trends, desiccants global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire