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Separation Machinery Market | Industry Developments, Outlook, Current Trends by 2024

Author : Rahul Varpe | Published Date : 2020-08-21 

Separation machinery to spilt products or particles is a crucial step in any chemical process. It includes the segregation of impurities from chemical compound or separating two or more chemicals from each other. Separation equipment is selected depending upon the nature of the mixture. Segregation is generally performed based on the size of particles in the chemical compound.

However, other parameters such as particle density, viscosity, concentration, and flow rate are also taken into consideration. Estimates indicate that global separation machinery market size will reach a valuation of more than US$100 billion by 2024, with growing penetration in oil & gas and industrial processing applications. In addition, consistent growth of the industrial sector in Asia Pacific will foster the industry outlook.

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The oil and gas industry forms a critical part of the global energy sector. It is estimated that oil-based fuels meet more than 31% of primary energy utilized across the globe. Separation equipment finds extensive application in the oil & gas sector to separate, remove, or transform solid particles, salts, or gases from chemical compounds to synthesize hydrocarbons for fuels. A surging demand for oil-based fuels is likely to boost the deployment for separation machinery.

In terms of the applications, industrial processing segment, which accounted for about 25% revenue share in 2017, is slated to witness notable growth over the forthcoming years. This growth can be largely associated with increasing annual oil consumption in both developed and developing regions. Indian Chamber of Commerce reports that oil consumption in India has experienced a growth rate of 4.1% over the past few years.

Separation machinery has experienced a strong demand in waste and wastewater applications in recent years. Governments in many regions facing water scarcity have introduced favorable policies to support clean water consumption. Chemical manufacturing companies use separation machinery to treat wastewater and optimize energy utilization.

Considering the geographical landscape, North America held a significant share in global separation machinery industry in 2017. The regional growth can be attributed to escalating demand for hydrocarbons in recent years. Meanwhile, Asia Pacific separation machinery market size will grow at a CAGR of 4.5% through 2024. Robust economic development and rapid expansion of industrial sector are fueling the regional demand.

Industrial centrifuges are witnessing a strong adoption in Asia Pacific owing to rapid growth in industrialization observed over the past decade. In India, government initiatives such as the Make in India program to foster industrial development had attracted foreign direct investments worth more than US$70 billion during 2017. Similarly, the Chinese government had revised foreign direct investment policies, resulting in increased foreign direct investments in the industrial sector and propelling the economic growth.

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SWECO, Alfa Laval Corporate, GEA Group, Russell Finex, and ANDRITZ are among the leading providers of separation machinery worldwide. There are numerous other small and medium sized companies that constitute the industry’s competitive dynamics. The adoption of different growth and expansion strategies by these players, such as new product launches, collaborations, and mergers & acquisition will complement the market trends.

 

 

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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