BTX and Hydrocarbon Separating Adsorbent Market Growth, Latest Trend Analysis

Posted by BIS RSRCH on February 2nd, 2021

The oil and gas, petrochemical and refining industries are currently dominated by solvent-based extraction methods, such as stripping, extractive distillation, and other liquid-liquid operations. However, research and developments in adsorbents, focusing on BTX and hydrocarbon separation in the past decade have contributed significantly to the transformation of the global market for the same. The advent and further advancements of technologies, manufacturing processes as well as manufacturing substrates help adsorbent suppliers to attract consumer attention toward better quality and sustainable products.

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Adsorbent-based extraction offers several advantages over solvent-based extraction, which has shown an overall decrease in demand over recent years. In addition, adsorbents are preferred due to their excellent property to operate over a wide range of conditions and variable selectivity and their ability to regenerate and reactivate. This factor is anticipated to create tremendous opportunities for various industries using adsorbents in the coming years.

Solvent-based extraction dominated the market for over the past ten years for oil and gas, and petrochemical industries and refineries. Adsorbents have become increasingly popular for these industries as the applications, lifespan, and the waste reduction capabilities of adsorbent-based extractions provide an edge over solvent-based extraction.

A steep decline in the usage of solvent-based extraction technologies is expected in the next five years, due to the increasing competition and technological advancements in the oil and gas industry. Therefore, end-user industries are focusing on the adoption of highly efficient BTX and hydrocarbon separating adsorbents to increase their revenue and geographical presence to achieve a better position in the global market in the coming years.

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The growth in the global BTX and hydrocarbon separating adsorbent market is attributable to the ongoing demand for efficient and non-solvent based adsorption methods. The increasing number of application areas for BTX and hydrocarbon separating adsorbent products has led to the surging demand for various types of adsorbent, such as upstream, midstream and downstream industries. Molecular sieve is increasingly being adopted in various industries such as refining and petrochemical industry, where high quality fuel and chemicals are manufactured. North America has emerged as a major consumer of BTX and hydrocarbon separating adsorbents over the years in terms of value owing to growing awareness about the benefits of such adsorbents over solvent-based adsorption methods. Therefore, the country opens a plethora of opportunities for BTX and hydrocarbon separating adsorbents manufacturers to expand their business.

Offline sales are most prominent sales mode ever since the market began to expand owing to bigger class of end-use customers of adsorbents, which are oil and gas industries, petrochemical industries, and refineries. Since this business requires customer loyalty and extensive aftersales services, offline marketing channels provide better chances of building better customer relationships. However, offline sales mode is expected to grow at a significant rate in coming years in order to provide the customers the ease and the ability to compare multiple products simultaneously while letting the manufacturers acquire the shifting choices of the customers according to the type of industry.