Absorbent pads refer to the pads that are made of various materials such as cotton fibers, cellulose fibers and polymers for absorbing liquid substances. The liquid substances includes oil spills, leakage of chemicals, coolants, personal hygiene and other solvent based spills. The absorbent pads are generally used in the applications such as hydraulic fluids, oil based fluids, water, and grease. These absorbent pads are used in the workplaces for cleaning of drips, inevitable leaks, and spills during dispensing, storing liquids, and during transport. The absorbent pads are categorized into various types that is hazmat absorbent pads, chemical absorbent pads, universal absorbent pads, and oil absorbent pads.
COVID-19 scenario analysis:
- The demand for the absorbent pads is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from oil & petroleum industry.
- COVID-19 crisis is likely to affect the absorbent pads industry negatively, as a result of halted manufacturing and massive reduction in demand for luxury and non-essential services globally.
- COVID-19 crisis had a mixed impact on the packaging industry, mainly due to closure of physical retail stores globally. However, the availability of online retailing has absorbed the high impact of this shutdown.
- The requirement of eCommerce specific packaging is likely to remain strong, although the ecommerce companies would have to focus on protection of goods and sanitization of packages.
- In addition, the food packaging industry is on the frontline within the global packaging market, owing to the demand for essential products such as groceries and fresh food mainly from local e-retail sites.
- Industrial, transportation, and bulk packaging has faced a sharp decline, owing to decreased demand for non-essential goods during the first two quarters of 2020.
- Owing to the lowered disposable income of maximum population and weak demand for packaging from industrial goods, the packaging industry might face significant pressure of reduction in both wholesale as well as retail costs.
- Consumers are likely to stay hesitant for consumption of luxury products, travel, and hospitality services, which is expected to hinder the packaging industry growth in the future after the COVID-19 crisis.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The growing demand for the absorbent pads in the end user industries such as oil & gas, food & agriculture, chemicals & petrochemicals, and health care, for maintenance & cleaning, leakage of chemicals, and spills during transportation is expected to fuel the absorbent pads market. The increasing environmental concerns due to growing oil spills and leakage of chemicals is further expected to boost the growth of the absorbent pads market. The rising demand for absorbent pads in the food packaging industry is expected to fuel the absorbent pads market. The packed food products such as meat, fish, and vegetables release liquids that are absorbed by absorbent materials in the packaging tray. The increasing use of chemical absorbent pads in the chemical industries is further expected to fuel the absorbent pads market growth. North America holds the largest market share in the absorbent pads followed by Europe. However, the absorbent pads made of plastic material possess environmental threats which can hamper the growth of the market.
New product launches to flourish the market
Thelaunch of new generation advanced spill mats and roll products can boost the growth of the absorbent pads market. In December 2019, one of the global leader in absorbent pads SupAbsorb Tech launches a new line of absorbent industrial floor mats and rolls. These product is specifically designed for the oil industry to control the oil spills. The SupAbsorb Tech floor mats is used for messy clay absorbent, chemical cleanup, and soaking the solvent leakage.
High demand from applications:
The absorbent pads offer various applications in industries like food packaging, pharmaceutical, agriculture, oil & gas, chemical, medical and other such industries. The absorbent pads are generally used in controlling the oil spills. The oil spills can cause hazardous effect to the environment. The oil spills can have severe long term effects as far as the organisms are concerned. The oil spills can have immediate effects on the humans, marine organisms, wildlife, birds and other organisms due to the breathing of volatile oil components. This in-turn increases the demand for the oil absorbent pads for controlling the oil spillage problem. Further, the absorbent pads are also used as a solution for oil and lubricant leaks during repairing and maintenance of automobiles. Moreover, the absorbent pads are used in the food packaging industry to soak the liquid release from the vegetables, meat, and fish products. The other applications of absorbent pads include in personal hygiene, absorbing petroleum based liquids such as solvents, paints & non soluble chemicals and other hazardous chemicals.
Key benefits of the report:
- This study presents the analytical depiction of the absorbent pads market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the absorbent pads market share.
- The current market is quantitatively analyzed to highlight the absorbent pads market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Market analysis based on competitive intensity and how the competition will take shape in coming years.
Absorbent Pads Market Report Highlights
By Industry Vertical
Key Market Players
Trico Corporation, Azapak, Johnson Matthey Plc., Cellcomb AB, Sirane Limited, CoCopac Limited, W. Dimer GmbH, ESP US, Fentex Ltd, 3M Company, Novipax LLC, AGIC srl, Meltblown Technologies Inc., Gelok International Corporation, Brady Corporation, Oil-Dri Corporation of America, Pactiv LLC, Prima SRL