Distillation Systems Market Is Projected To Grow At A CAGR Of 5.1%, To Reach USD 7.91 Billion By 2023

(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Dec 14, 2020, 12:00 /Comserve / -- Increasing demand for distilled spirits, distilled water, and crude oil are creating the demand for distillation systems in the market. Petrochemical refineries and alcoholic beverages are the two dominant application segments

The distillation systems market is projected to grow at a CAGR of 5.1%, to reach USD 7.91 billion by 2023. Increasing demand for distilled spirits, distilled water, and crude oil are creating the demand for distillation systems in the market. Petrochemical refineries and alcoholic beverages are the two dominant application segments of the distillation systems market, for which the growth has increased significantly since the last decade. The scarcity of water is a major factor fueling demand for distillation units globally in the water treatment application. Growth of the manufacturing sector in developing countries is further fueling the distillation systems market growth. However, adoption of alternative technologies due to higher energy consumption in the process is projected to restrain the market growth of distillation systems.

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'The column shell segment is estimated to dominate the market in 2018.
The column shell segment is the cost dominant component in the distillation systems due to the use of various expensive materials in the construction and design. Hence, the column shell segment is estimated to dominate the market in 2018. Column shells that are designed to function under the atmospheric pressure are comparatively less expensive than systems with thick column shells that are designed to perform under high pressure. The thickness of the column shell determines the amount of pressure that can be regulated within the system. The chemical industry is among the major consumers of distillation systems with thicker column shells and binary columns. This helps them regulate the chemical compounds under pressure and achieve the desired results.

'The vacuum segment is projected to witness the fastest growth between 2018 and 2023.
Vacuum distillation technique minimizes the chances of decomposition of components that are present in the mixture. This technique is an energy-efficient process and reduces energy consumption for heating and cooling of the mixture. Due to these factors, vacuum distillation is commonly used in industries such as essential oils, perfumes, petroleum refineries, and petrochemicals.

'The petroleum & biorefineries segment is estimated to lead the market with the largest share in 2018.
Biorefineries are using the distillation technique for the production of biofuels, such as bioethanol, biokerosene, biodiesel, biobutanol, and bio-oil from biomass, which include plants and agricultural wastes. The depleting sources of conventional fuels are increasing the demand for alternative fuels. Due to this reason, the biorefinery industry is projected to gain significant market attention across regions.

'On the basis of operation, the continuous segment is estimated to dominate the market in 2018.
Continuous distillation is used for large-scale separation processes and is extensively used in the petroleum, oil, and chemical industries. This operation is largely used due to its high energy efficiency and high output as compared to batch operation.

'The US is estimated to be the largest market in the North American region in 2018.
The US accounted for the largest market share in the distillation systems market in 2017. The manufacturers of distillation systems in the North American region are focusing on the development of new technologies and enhancement of the existing product portfolio. The manufacturers of distillation system components and turnkey projects in the region are increasing their capacity to reduce the turnaround time between projects. The focus toward better technology solutions and high-efficiency is emerging as a key selling point in the industry.

The distillation systems market growth in the US is due to the rise in demand for crude oil, its by-products, and alcoholic beverages. The expansion of the production capacity and favorable government policies in certain states such as New York and Texas have led to an increase in the number of Greenfield projects.

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Break-up of Primaries:
By Company Type: Tier 1 - 45%, Tier 2 - 32%, and Tier 3 - 23%
By Designation: C-level 57%, D-level 43%
By Region: North America - 35%, Europe 21%, Asia Pacific - 31%, and RoW 13%

The key players profiled in this report are as follows:
• GEA (Germany)
• Alfa Laval (Sweden)
• SPX FLOW (US)
• Sulzer (Switzerland)
• Core Laboratories (Netherlands)
• PILODIST (Germany)
• Anton Paar (Austria)
• Praj Industries (India)
• L & T Hydrocarbon Engineering (India)
• EPIC Modular Process Systems (US)
• BÜFA Composite System (Germany)
• Bosch Packaging Technology (Germany)

Research Coverage
The report segments the distillation systems market based on components, technology, type, industry, operation, process, and region. In terms of insights, this research report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the distillation systems market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.

Reasons to buy this report:
• To get a comprehensive overview of the distillation systems market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights about the key countries/regions in which the distillation systems market is flourishing

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