Turkey Desiccant Market Size Worth $1.3 Million by 2031 | CAGR: 3.2%: AMR
Increasing usage of desiccants in the packaging industry, particularly for food and pharmaceutical items, and in the transport industry drives the growth of the Turkey dessicant market. By type, the silica gel segment held the major share in 2021. By end-user, on the other hand, the pharmaceutical segment would showcase the fastest CAGR by 2031.
Portland, OR, Feb. 08, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Turkey dessicant market was estimated at $0.9 million in 2021 and is expected to hit $1.3 million by 2031, registering a CAGR of 3.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2022–2031 |
Base Year | 2021 |
Market Size in 2021 | $0.9 Million |
Market Size in 2031 | $1.3 Million |
CAGR | 3.2% |
No. of Pages in Report | 125 |
Segments Covered | Type, End-user, and Region. |
Drivers | The special ability of desiccants to absorb moisture makes them appropriate for a range of applications where water presence/moisture can damage products, such as in the pharmaceutical, electronics, food, and apparel industries. |
Increasing usage of desiccants in the packaging industry, particularly for food and pharmaceutical items, and in the transport industry | |
Restraints | High investment cost for installation of pieces of machineries |
High maintenance cost | |
Opportunities | Expansion of the electronics industry in developing economies |
Covid-19 Scenario-
Rising expenditure on healthcare, improved access on the system, and greater consumer awareness of healthy lifestyles gave way to a surge in the demand for pharmaceutical packaging during the pandemic, which impacted the Turkey desiccant market positively.
Also, the expanding food & pharmaceutical packaging industry supplemented the market growth even more.
The Turkey desiccant market is analyzed across type and end-use industry. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the silica gel segment contributed to more than one-third of the Turkey desiccant market share in 2021, and is projected to rule the roost by 2031. The activated alumina gel segment, on the other hand, would display the fastest CAGR of 5.24% throughout the forecast period. The other segments analyzed through the report include activated charcoal, zeolite, calcium chloride, and clay.
By end-user, the food segment accounted for the highest share in 2021, generating around one-third of Turkey desiccant market revenue. The pharmaceutical segment, however, would showcase the fastest CAGR of 3.94% during the forecast period. The packaging and electronics segments are also studied in the report.
The key market players analyzed in the Turkey desiccant market report include BASF SE, Clariant, Desi Kimya, Evonik Industries AG, Desiccare, Inc., Fuji Silysia, Marista, W. R. Grace & Co.-Conn, Dow, and INEOS. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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