Desiccant market seen reaching $1.8 billion by 2032

Allied Market Research says the global desiccant market will grow from $1.1 billion in 2022 to $1.8 billion by 2032, driven by demand from pharmaceuticals, food packaging and oil and gas. Asia-Pacific held the biggest share in 2022 and is projected to stay the fastest-growing region through 2032. Why it matters: - The desiccant market is tied to moisture control across packaging, food, pharmaceuticals, electronics and industrial uses. - Growth in the market signals rising demand for products that protect shelf life, quality and transport integrity. - The market outlook also points to stronger demand for activated alumina and pharmaceutical-grade moisture control. What happened: - Allied Market Research published a report on the global desiccant market covering 2022-2032. - The market was valued at $1.1 billion in 2022 and is projected to reach $1.8 billion by 2032. - The forecast implies a compound annual growth rate of 5.1% from 2023 to 2032. - The report covers desiccant types including silica gel, activated alumina, activated charcoal, zeolite, calcium chloride, clay and others. - The report also breaks the market down by end use, including packaging, food, pharmaceutical, electronics and others. - The report is available through Allied Market Research, which also offered a sample pages download and a purchase inquiry page. The details: - Desiccants are hygroscopic materials that absorb moisture from the surrounding environment. - Moisture absorption lowers humidity and helps prevent damage to products. - One moisture absorption mechanism is physical absorption, where moisture is trapped on surfaces or in capillaries without changing the water itself. - The global market is growing on demand for activated alumina in oil and gas and rising desiccant use in pharmaceuticals. - High investment costs remain a drag on market expansion. - Expanding use in chemicals and air conditioning systems creates additional growth opportunities. - The report lists key players including FUJI SILYSIA CHEMICAL LTD., DESICCA CHEMICAL PVT. LTD., TROPACK PACKMITEL GMBH, OKER-CHEMIE, HENGYE, INC., MULTISORB, CLARIANT, CAPITOL SCIENTIFIC, INC., W. R. GRACE AND CO.-CONN. and EVONIK INDUSTRIES AG. - The report says these companies use product launches, collaborations, expansion, joint ventures and agreements to defend or grow market share. Between the lines: - Supply chain disruptions and shortages linked to the Russia-Ukraine war could increase prices and create volatility. - Trade restrictions and sanctions on Russia may have opened room for other suppliers while adding uncertainty to cross-border trade. - The conflict may also have slowed regional R&D and investment in innovative or sustainable desiccant technologies. - Silica gel led the market in 2022 with more than one-third of global revenue. - Activated alumina is expected to post the fastest growth, with a projected CAGR of 7.3% from 2023 to 2032. - The food segment held more than one-third of market revenue in 2022. - The pharmaceutical segment is projected to grow at a CAGR of 5.8% through 2032. - Asia-Pacific held nearly two-fifths of global revenue in 2022 and is projected to remain the top region. - Asia-Pacific is also expected to grow the fastest, with a CAGR of 6.1% through 2032. What’s next: - Demand is expected to stay strongest in food, pharmaceuticals and electronics, where moisture protection directly affects product quality. - Asia-Pacific will likely remain the main growth engine as China, India and Japan expand manufacturing and e-commerce. - Activated alumina could gain share as industrial and pharmaceutical applications broaden. - Competitive pressure should remain high as major players use partnerships, launches and geographic expansion to win business. The bottom line: - The desiccant market is on track for steady mid-single-digit growth, with Asia-Pacific, pharmaceuticals and activated alumina shaping the next phase of expansion.