Lucintel Forecasts Desiccant Market to Reach $1.7 Billion by 2028

Desiccant Market

Posted on 2023-07-24 by Lucintel in Marketing // 0 Comments

CITY, Country, 2023-Jul-24 — /EPR Network/ —

According to the recent study the desiccant market is projected to reach an estimated $1.7 billion by 2028 from $1.3 billion in 2023, at a CAGR of 5.5% from 2023 to 2028. Growth in this market is primarily driven by increasing use of desiccant in order to reduce excessive moisture and protect products, rising application in the food and pharmaceutical packaging industries, and growing use of zeolite desiccants in air conditioning systems as a drying components to maintain the efficiency of the refrigerant.

A more than 150 – page report is developed to understand trends, opportunities and forecast in desiccant market by product type (silica gel, activated alumina, activated charcoal, zeolite, calcium chloride, clay, and others), process (physical absorption and chemical absorption), end use industry (packaging, food, pharmaceutical, electronics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

“Silica gel market is expected to remain the largest segment during the forecast period.”

Based on product type, the desiccant market is segmented into silica gel, activated alumina, activated charcoal, zeolite, calcium chloride, clay, and others. Lucintel forecasts that the silica gel market is expected to remain the largest segment due to the significant use of this gel as catalyst carriers, adsorbents, and separators, and perfume carriers owing to its moisture-proof and dry properties.

“Within the desiccant market, the pharmaceutical segment is expected to remain the largest end use industry”

Based on end use industry the pharmaceutical segment is expected to witness the highest growth over the forecast period due to the increasing use of solid desiccant to reduce the moisture content in medicine while preserving quality and extending their shelf life.

“Asia pacific will dominate the desiccant market in near future”

APAC is expected to witness highest growth over the forecast period due to the continuous population growth and enormous demand for food and electrical products in the region.

Major players of desiccant market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Fuji silysia chemical, Desicca chemicals, Tropack packmitel, Oker-Chemie, and Hengye are among the major desiccant providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

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