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Desiccants Market Size

Report ID: GMI6750
Published Date: Sep 2023
Report Format: PDF

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Desiccants Market Size

Desiccants Market size achieved a valuation of approximately USD 0.95 billion in 2022 and is anticipated to grow at a CAGR of 4.8% between 2023 and 2032. Desiccants play a critical role in the pharmaceutical industry, safeguarding moisture-sensitive drugs to maintain their effectiveness. Strict regulatory mandates within the pharmaceutical sector necessitate the utilization of desiccants to uphold product quality and safety.

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Additionally, manufacturers in the electronics and semiconductor industry utilize desiccants to shield sensitive components from potential damage caused by moisture throughout production and shipping. In the realm of food packaging, desiccants are vital for extending the shelf life of products by effectively managing moisture levels and preventing spoilage.

Desiccants Market Report Attributes
Report Attribute	Details
Base Year:	2022
Desiccants Market Size in 2022:	USD 0.95 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4.8%
2032 Value Projection:	USD 1.4 billion
Historical Data for:	2018 to 2022
No. of Pages:	150
Tables, Charts & Figures:	137
Segments covered:	Type, Application Region
Growth Drivers:	Growing pharmaceuticals industry Growing electronics industry Growing automotive industry
Pitfalls & Challenges:	Regulatory Compliance Price Sensitivity

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The conventional desiccant materials, like silica gel, face a growing challenge due to rising environmental apprehensions and regulatory constraints related to their disposal and environmental impact. This issue is particularly pertinent in sectors such as pharmaceuticals and food packaging, where strict regulations demand desiccants to meet precise quality and safety criteria. In price-sensitive industries like agriculture, finding the right equilibrium between performance and cost-effectiveness is a formidable task, especially given the presence of more affordable alternatives. Consequently, the potential risks linked to traditional desiccants may deter their widespread acceptance, thereby impeding business growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for desiccants was USD 0.95 billion in 2022 and is anticipated to record USD 1.4 billion by 2032 owing to increasing application across the pharmaceutical sector for safeguarding moisture-sensitive drugs to maintain their effectiveness.

Desiccants industry from the silica gel type segment generated USD 950 million in revenue in 2022 and is expected to witness robust growth through 2032 attributed to widespread usage in pharmaceutical packaging to maintain its shelf life.

U.S. industry size for desiccants reached USD 245 million in 2022 and is anticipated to expand significantly through 2032 owing to the presence of expanding pharmaceutical sector in the region.

Some of the top companies operating in the desiccants industry are BASF SE, Clariant AG, Multisorb Technologies, W. R. Grace & Co., Dow Chemical Company, Mitsubishi Chemical Corporation, CSP Technologies, Desiccare, Inc., Absortech Group, Sanner GmbH, and Sorbead India