Wet Dust Suppressants to Account for Over ¾ Market Share, Evaluates Fact.MR
Published : 08 Jun 2021 Industry: Chemical & Materials
The global dust suppressants market is anticipated to close in on a US$ 7.3 Bn valuation in 2021, and expand at a CAGR of around 5.5% over the next ten years.
End-use industries are driving the wheel of fortune for dust suppressants with spiking consumption potential for the coming years. These industries include mining, constriction, food & beverages, oil & gas, thermal power, and others. Constant research and innovation is being done by key market players to foster unexplored application for these end-use industries.
The mining industry, amongst, all is poised to be the bed rock for dust suppressant demand globally. Heightened output across various mining industries in China, Brazil, the U.S., Russia, India, etc., is leading to significant demand to control dust emissions.
Global demand for dust suppressants is propelled by North America, accounting followed by Europe and East Asia. North America enjoys maximum number of manufacturers due to ease of raw material and heightened infrastructure investments. Also, the region carries quantified number of mining sites and increasing number of construction projects, which is elevating the consumption potential of dust suppressants.
Key Takeaways from Study
- The dust suppressants market is anticipated to add 1.7 X value by 2031.
- Wet dust suppressants capture a major chunk, equivalent to more than three-fourth of the global market share, and are set to create an absolute $ opportunity of close to US$ 5 Bn over 2021-2031.
- Among the end-use industries, the mining sector has been the fastest-growing segment, owing to rise of mining output globally over the past decade.
- North America is set to dominate market revenue in 2021, but is expected to lose 300 BPS by 2031.
- Due to the COVID-19 crisis, demand for dust suppressants was hit in 2020, which saw a decline of 2% over the 2nd and 3rd quarters of the year.
“Heightened production capacity to be the wheel of fortune for dust suppressant businesses,” says a Fact.MR analyst.
Key players in the dust suppressants business must look forward for increased production capacity and prioritise geographical expansions to gather prominence in the business. This shall help them witness growth in the market over the medium- to long-term forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global dust suppressants market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis of technology (wet suppressants and dry suppressants), type (hygroscopic suppressants[calcium chloride, magnesium chloride, blend of calcium and magnesium chloride, and others] and adhesives [lignosulfonate and calcium lignosulfonate], petroleum emulsion, polymer emulsion, electro-chemicals, and others), and end-use industry (mining, construction, food & beverages, oil & gas industry, thermal power, and others) across six major regions of the world (North America, Latin America, Europe, East Asia, South&West Asia, and the Middle East & Africa).
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Sr. Consultant - Chemicals &Materials