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Mass Transfer Equipment market Size, Share, Competitive Landscape and Trend Analysis Report
WILMINGTON, DE, UNITED STATES, November 5, 2024 /EINPresswire / -- The mass transfer equipment market is poised for significant growth due to rising demand from the chemicals and
Pharmaceutical sectors, where these devices are essential for efficient processing. Mass transfer equipment is valued for its high performance, rapid lead times, durability, corrosion resistance, and operational safety. For example, quenches are widely used to prevent harmful chemical formation, while columns are vital for washing out toxic gases and distilling corrosive chemicals. These benefits are expected to drive market expansion over the next decade. According to a report by Allied Market Research titled "Mass Transfer Equipment Market," the market was valued at $2.5 billion in 2021 and is projected to reach $4.2 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031. The chemical sector remains a major application area for mass transfer equipment, supporting reactions, separations, heat transfer, and more.
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Market analysis highlights the strong demand for mass transfer equipment across various industries. In biochemicals and biofuels, this equipment is crucial for biofuel production, including processes like methanol recovery, fatty acid removal, and lactic acid purification. The market is driven by the principle of chemical potential, which facilitates efficient mass transfer. In single-phase systems, chemical potential achieves uniformity across the phase, while in multiphase systems, such as liquid-liquid extraction, it allows a preferred phase to absorb the majority of a chemical species. These factors are expected to support market growth in the coming years.
However, high technology costs and limitations in gas-to-liquid mass transfer for syngas fermentation may hinder market growth. Despite these challenges, the increased use of mass transfer equipment in wastewater treatment, vent gas treatment, and product purification presents significant opportunities. For example, in wastewater treatment, these devices recover valuable compounds like isopropyl ether, toluene, and acetone. In product purification, they are used for applications involving substances such as xylene, fatty acids, hydrogen peroxide, and glycol. Advances in mass transfer efficiency, such as the development of the Downcomer Distributor by AMT International Inc. and Petronas, which improves fluid flow patterns in distillation trays, are expected to further stimulate market growth.
The global mass transfer equipment market is segmented by type, application, and region. By type, it includes column internals, trays, random packing, structured packing, and others. By application, it serves industries such as food & beverages, pharmaceuticals, oil & gas, water and wastewater treatment, chemicals, and pulp & paper. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key Industry Players
Prominent players in the mass transfer equipment market include Sulzer Ltd, Koch Engineered Solutions, Beijing Zehua Chemical Engineering Co., Ltd., Finepac Structures Pvt. Ltd., DtEC, MTE Group, Munters Group, Baretti, Tianjin Univtech Co., Ltd., and HAT International Ltd.
COVID-19 Impact on the Mass Transfer Equipment Industry
The COVID-19 pandemic adversely impacted demand for mass transfer equipment due to supply chain disruptions across chemical, construction, and pharmaceutical industries. Lockdowns, import-export restrictions, and labor shortages led to a drop in production and demand. Social distancing measures, border closures, and manufacturing constraints in countries like China, India, and the U.S. affected the market, delaying opportunities and sales recovery.
Key Findings
By type, trays led the market in 2021, while structured packing is anticipated to grow fastest during the forecast period.
By application, the oil & gas segment held the largest share in 2021, with the chemical segment expected to see the fastest growth.
The Asia-Pacific region had the largest market share in 2021 and is expected to maintain its lead in the coming years.
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David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.