LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global magnetic separation equipment market to generate revenue of close to USD 1,600 million by 2021, according to their latest report.
The market study covers the present scenario and growth prospects of the global magnetic separation equipment market. The report also lists mining and aggregates, light industries, and recycling, water, and wastewater as the three major application segments.
Request a sample report: http://www.technavio.com/request-a-sample?report=56647
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio heavy industry analysts highlight the following three market drivers that are contributing to the growth of the global magnetic separation equipment market:
- Increasing applications in recycling industry
- Growing focus on environmental feasibility of industrial operations
- New avenues in food, pharmaceutical, and biochemical industries
Increasing applications in recycling industry
The recycling industry is one of the major end-users for the MSE market, with magnetic separators ensuring a high rate of recovery of the valuable components in waste. The implementation of initiatives such as the goal of zero landfills is lending a dynamic nature to the recycling industry. In addition, there is greater pressure on recyclers to ensure that the MSE in their plants operates at peak performance to maximize the recovery of ferrous metals. The most widely recycled ferrous metals globally are iron and steel scrap. End-of-life products, as well as scrap from manufacturing processes, are the two major sources of their generation. The utilization of scrap forms an integral part of steel production. According to the Bureau of International Recycling, 40% of the steel manufactured globally is made from scrap.
Growing focus on environmental feasibility of industrial operations
Magnetic separation offers low-cost ways to remove pollutants from the effluents released by factories or mines before they reach the outside environment. Magnetic separation also ensures that industries reduce their levels of undesirable effluents significantly without compromising on their profitability or operational procedures.
According to Anju Ajaykumar, a lead analyst at Technavio for unit operations research, “The high efficiency of magnetic separation technologies like superconducting magnetic separation makes them capable of cleaning up the existing pollution in the environment. This type of separation has high functionality in steel and iron production for the removal of iron and iron oxides from rinse water streams, thus curbing the released water's short and long-term negative impact on the environment.”
New avenues in food, pharmaceutical, and biochemical industries
The food, pharmaceutical, and biochemical sectors offer many potential applications for magnetic separation technology. The treatment of suspended solids and the removal of metallic contamination and soluble organic molecules in process streams are the primary applications outlining the opportunities for market growth in these industries.
The enhancement of food quality through the removal of certain low molecular weight materials without compromising on the nutritional value besides other applications such as the removal of cholesterol from milk and butter offer growth opportunities, which cater to the ongoing trend of health consciousness on the part of the consumers.
“The increasing use of enzymes extracted from microorganisms or plants and the efforts to convert food processing wastes into higher value products using yeast provide potential areas of demand, as MSE recovers very fine particles associated with these biological processes,” says Anju.
Browse Related Reports:
- Global Magnetic Materials Market 2017-2021
- Global Magnetic Field Sensor Market 2016-2020
- Global Magnetic Stirrer Market 2016-2020
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like engineering tools; test and measurement; and tools and components. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.