Petroleum Sorbent Pads Market Size & Share, by Type (Lightweight Pads, Middleweight Pads, Heavyweight Pads); Application (Construction, Manufacturing, Oil & Gas, Chemical) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5481
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Petroleum Sorbent Pads Market size is expected to cross USD 3.6 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of petroleum sorbent pads was over USD 1.7 Billion. There is a growing need for lightweight petroleum sorbent pads in chemical sectors like pharmaceuticals due to their lightweight nature, which lowers transportation costs when shipments are made internationally. Globally, the pharmaceutical sector spent over USD 244 billion on research and development in 2022. In contrast, USD 137 billion was spent on research and development in 2012.

Furthermore, the growing need for lightweight petroleum sorbent pads in construction applications because of their affordability and convenience of usage are major factors propelling the growth of this petroleum sorbent pads market.


Petroleum Sorbent Pads Market
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Petroleum Sorbent Pads Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 6%

Base Year Market Size (2023)

 ~ USD 1.7 Billion

Forecast Year Market Size (2036)

 ~ USD 3.6 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Petroleum Sorbent Pads Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Increasing Demand for Sustainable and Environmentally Friendly Goods- The use of ecologically friendly materials in the fabrication of sorbent pads is the most recent breakthrough in the ever-evolving petroleum sorbent pad business. Concerns about environmental degradation are causing companies to focus on sustainable solutions that could help reduce the carbon footprint. Because of this, manufacturers are currently developing effective and environmentally safe petroleum sorbent pads by using recyclable materials and natural materials like coconut husks and maize cobs. These pads are designed to collect leaks and spills of oil and may be easily disposed of without posing a risk to the environment. Given the growing need for sustainable solutions, it is expected that the use of environmentally friendly materials in the production of petroleum sorbent pads will continue to be a significant trend in the petroleum sorbent pads market.
  • Growing Consumer Interest in Oil and Gas Products- Not unexpectedly, the market has been growing steadily over time. Because they are required to mop up oil spills and leaks, these pads are essential pieces of equipment in the petroleum industry. The primary factor driving this market's rise is the growing demand for oil and gas products. As more oil is produced and transported around the world, the likelihood of spills and leaks increases. Since they provide a prompt and effective reaction to these accidents, they are a desirable solution for companies looking to lessen the environmental impact of their activities. Between 2010 and 2019, there were an average of 1.8 significant oil spills due to tanker incidents annually. Over 700 metric tons of oil were reported to have leaked in four separate oil incidents in 2022.
  • Tight Environmental Laws are Driving the Expansion of the Petroleum Sorbent Pads Market - Governments around the world place a high premium on environmental preservation, and companies need to take steps to prevent and clean up spills. As a result, there is a greater need for products like petroleum sorbent pads that follow these regulations. Lastly, the development of innovative and creative products has also contributed to the industry's growth. Because manufacturers are always producing new, more effective, and efficient kinds, they are an attractive possibility for companies looking for the best available solution. In conclusion, the market for petroleum sorbent pads is driven by a number of significant factors. Over the coming years, this business is anticipated to grow as consumer demand for oil and gas products rises, environmental regulations get stricter, and new, cutting-edge technology becomes available.

Challenges

  • Lockdowns and other limitations on mobility hurt the market- The global market for petroleum sorbent pads has been greatly influenced by the ongoing COVID-19 pandemic. The necessity for petroleum sorbent pads has decreased as a result of lockdowns and other restrictions that have reduced consumer demand for petroleum goods. As a result of a decline in production and supply, there is a shortage of these pads on the petroleum sorbent pads market.
  • Increasing demand for environmentally friendly alternatives is one of the main things impeding the market's expansion.
  • Another constraint is the high cost of producing and delivering petroleum sorbent pads.


Petroleum Sorbent Pads Segmentation

Application (Construction, Manufacturing, Oil & Gas, Chemical)

The construction segment in the petroleum sorbent pads market is expected to hold the largest revenue share of about 32% during the forecast period. In the construction sector, petroleum sorbent pads are useful for collecting spilled oil and other dangerous substances. Petroleum Sorbent Pads are primarily used in the construction sector to absorb hydrocarbon fuel leaks from vehicles, hoses, and storage tanks during gas station refueling as well as oil spills on surfaces such as water or other regions. Petroleum Sorbent Pads can also be used as a layer of defense beneath an oil Tarpaulin sheet, which shields carpets and floors from harm caused by large machinery. Over the coming years, a steady growth in the worldwide construction industry's revenue is anticipated. It is anticipated to grow by more than twice as much by 2030 as it did in 2020. The construction industry was valued at 6.4 trillion USD in 2020 and is projected to grow to 14.4 trillion by 2030.

Type (Lightweight Pads, Middleweight Pads, Heavyweight Pads)

Petroleum sorbent pads market from the lightweight pads segment is anticipated to hold largest revenue share of about 40% during the forecast period. The growth of the segment is due to the perfect for tiny spill containment zones that require quick care because they are simple to operate and transport. This has the potential to be advantageous since it stops oil spills from enlarging surrounding areas before they are contained in a smaller space using petroleum sorbent pads that are lightweight.

Our in-depth analysis of the global petroleum sorbent pads market includes the following segments:

     Type

  • Lightweight Pads
  • Midweight Pads
  • Heavyweight Pads

     Application

  • Construction
  • Manufacturing
  • Oil & Gas
  • Chemical

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Petroleum Sorbent Pads Industry - Regional Synopsis

North American Market Forecast

The petroleum sorbent pads market in the North America region is projected to hold the largest market share of about 32% by the end of 2036. The main factor driving the absorbent pad market's expansion in this area is rising consumer knowledge of the product's advantages. The growth of the absorbent pad market in North America has also been aided by various kinds of pads for oil and chemical spills. The North America market for petroleum absorbent pads is growing due to the accessibility of these pads and the existence of significant industry participants. According to estimates from the US government, 4.9 million barrels of oil were spilled.

APAC Market Statistics

Petroleum sorbent pads in the Asia Pacific region are expected to hold second second-largest market share of about 27% during the forecast period. Petroleum sorbent pads market growth in Asia Pacific would be aided throughout the forecast period by rising end-user categories including the manufacturing and chemical industries, as well as rapid industrialization in nations like China and India. Nepal's industrial value added increased by 10.2 percent in 2022 compared to the previous year. In contrast, Sri Lanka's value added in industry fell by about 16 percent in 2022 compared to the previous year. In addition, two nations reported that their industrial value added increased by more than 10% in 2022 compared to the year before.

Research Nester
Petroleum Sorbent Pads Market Size
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Companies Dominating the Petroleum Sorbent Pads Market

top-features-companies
    • 3M
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Darcy Spillcare Manufacture
    • WellGro Tech
    • ENPAC
    • NPS Corp
    • Brady Worldwide
    • ESP Sorbents
    • GEI Works
    • Unique Safety Services
    • American Textile & Supply
    • Log 9 Spill Containment Pvt Ltd

In-the-news

In The News

  • Mumbai-headquartered clean-tech startup Log 9 Spill Containment Pvt Ltd on Saturday said it supplied oil absorbent pads 'Sorbene' to clean up a major oil spill off the coast of island nation Mauritius. The Mauritian government has declared a state of 'environmental emergency' in the co untry after the spill threatened flora and fauna of nearby wetlands and the centuries-old live corals, the company said in a statement.
  • Chemtex P9W - 19" x 15" White Standard Meltblown Oil/Chemicals Sorbent Pads. 19" x 15" White Standard Meltblown Oil/Chemicals Sorbent Pads (100 Pieces) (P9W) by Chemtex. Use Standard Meltblown Pads for cleaning spills on land and water. Standard meltblown fibers provide more surface area for the oils to adhere to making them our most absorbent pads.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5481
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for sustainable and environmentally good and consumer interest oil & gas are the major factors driving the growth of the auger filler market.

The market size of petroleum sorbent pads is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2024-2036.

The major players in the market are Darcy Spillcare Manufacture, WellGro Tech, ENPAC, NPS Corp, Brady Worldwide, ESP Sorbents, GEI Works, Unique Safety Services, and others.

The construction segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Petroleum Sorbent Pads Market Report Scope
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