The absorbent booms & socks market is likely to record a promising CAGR of 10.6% during the forecast period. The absorbent booms & socks market is currently valued at USD 1.7 Billion and is likely to reach USD 4.7 Billion by 2032.
| Attributes | Details |
|---|---|
| Absorbent Booms & Socks Market CAGR (2022 to 2032) | 10.6% |
| Absorbent Booms & Socks Market Value (2022) | USD 1.7 Billion |
| Absorbent Booms & Socks Market Value (2032) | USD 4.7 Billion |
Absorbent booms and socks are flexible tubes mainly used for absorbing oils, chemicals, coolants, solvents, petroleum-based fluids and other unknown liquids. These booms and socks are made of a variety of materials like polypropylene, polyethene, paper, fibre, and others, increasing the demand for absorbent booms and socks.
Other factors like flexibility, fluid-specific products, enhanced supply chain, and demand drive the sales of absorbent booms and socks. It provides a cleaner and safer work environment as it absorbs most liquids with higher shelf life.
The sales of absorbent booms and socks are likely to skyrocket in the forecast period as the pandemic has made people aware of the hygiene and cleanliness around them.
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Absorbent booms & socks are gaining acceptance as an everyday working tool for major industries, including oil and gas, chemical plants, food processing, healthcare, and others.
Brilliant properties of absorbent booms and socks such as durability, ease of use, high absorbency, inertness towards absorbed liquid, and reusability make them a perfect choice for industries to improve efficiency and safety at the workplace. Such factors are likely to heighten the growth in the demand for absorbent booms & socks during the forecast period.
Expansion of end-use industries across the globe and rising demand for spill kit products to improve productivity and safety in the workplace are likely to create significant demand for absorbent booms & socks during the forecast period.
However, the increasing numbers of players and fluctuation in raw material prices are expected to hamper the sales of absorbent booms & socks during the forecast period. Manufacturing of absorbent booms & socks is offering specialized, customized, cost-effective and eco-friendly absorbent booms & socks in order to gain grip in the market. Overall, the global absorbent booms & socks are likely to expand with notable CAGR during the forecast period.
The healthy growth rate of end-use industries in the Asia Pacific excluding Japan (APEJ) region and the growing demand for spill kit products to prevent harm from any spillage is likely to create substantial demand for absorbent booms & socks throughout the forecast period. China is expected to be at the forefront of the market share of the absorbent booms & socks market during the forecast period, increasing the sales of absorbent booms & socks.
Europe is a significant shareholder of the global absorbent booms & socks market and is likely to expand with notable CAGR during the forecast period. In terms of absorbent booms & socks market share, Germany is expected to be dominant throughout the forecast period, increasing absorbent booms & socks. Latin America and Middle East & Africa are considerable shareholders of the global absorbent booms & socks market.
They are anticipated to be promising regions for the growth of the absorbent booms & socks market during the forecast period. North American region is expected to register a healthy CAGR of the absorbent booms & socks market during the forecast period.
The key players in the absorbent booms & socks market are focusing on flexibility, longer shelf life and aggressive pricing. The competitors also focus on better absorption and area that drives the demand for absorbent booms & socks business. This drives the sales of Absorbent booms & socks.
Key players in the absorbent booms & socks market include 3M Company, Oil Dri Corporation of America, Wipeco Industries, Fentex ltd, ESP USA, The Cary Company, Meltblown Technologies Inc, PolySafe Products, PSI Parker System Inc and IQ Safety.
Recent Market Development:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 10.6% from 2022 to 2032 |
| The base year for estimation | 2021 |
| Historical data | 2015 to 2020 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments Covered | Product Type, Size, Dispensing Mode, Powder Dispensing Capacity, End Use, Region |
| Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand |
| Country scope | USA, Canada, Mexico, Germany, UK., France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa |
| Key companies profiled | 3M Company; Oil_Dri Corporation of America; Wipeco Industries; Fentex ltd; ESP US; The Cary Company; Meltblown Technologies Inc; PolySafe Products; PSI Parker System Inc and IQ Safety |
| Customization scope | Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
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Asia Pacific excluding Japan (APEJ) is the biggest market for the absorbent booms & socks market and is expected to hold a big portion of the market in the forecast period as new manufacturing units open up in this region.
Key competitors holding substantial Absorbent booms & socks market share are 3M Company, Oil, Dri Corporation of America, Wipeco Industries, Fentex ltd, ESP US, The Cary Company, Meltblown Technologies Inc, PolySafe Products, PSI Parker System Inc and IQ Safety
Demand for absorbent booms & socks is likely to rise with the factors like advent of corona virus, spreading awareness about hygiene and cleanliness. This increases the demand for absorbent booms & socks.
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Absorbent Booms & Socks Market
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