LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global sedimentation and centrifugation market to grow at a CAGR of close to 7% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global sedimentation and centrifugation market for 2017-2021. This report also presents the vendor landscape and an analysis of the top vendors in the market. It also discusses the market drivers, trends and challenges faced by the industry and their impact on future markets.
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Technavio heavy industry analysts highlight the following three market drivers that are contributing to the growth of the global sedimentation and centrifugation market:
- Increasing demand from process industries
- Rising demand from emerging economies
- Growing need for wastewater management solutions
Increasing demand from process industries
Process industries such as food and beverage, chemicals, pharmaceuticals, and pulp and paper require sedimentation and centrifugation equipment for completing the production process with the respective raw materials to achieve the end-product. For instance, in the food and beverage industry, a centrifuge is used to separate cream from milk. India is ranked as the leading country in terms of production of milk, which constituted about 18.5% of the world’s milk production in 2015-2016. The integrated system of collecting, transporting, processing, and distributing the milk to the respective end-user is the main reason for the boom in the dairy sector in India.
The beverage industry requires the centrifugation process to separate solids from liquids to achieve the desired result. For instance, wine making requires the sedimentation, centrifugation, and filtration process for production. Similarly, the beer industry is experiencing a significant growth globally.
“Apart from the food and beverage industry, the chemical and pharmaceuticals industry also requires sedimentation and centrifugation equipment for separating complex components. Thus, the growth in these industries will propel the market growth,” says Anju Ajaykumar, a lead analyst at Technavio for unit operations research.
Rising demand from emerging economies
The water and wastewater management, chemical, pharmaceuticals, and food and beverage industries are growing in emerging economies. China is also the leading home for the Asian pharmaceuticals industry. With an increased number of pharma companies and their respective R&D work, the demand for sedimentation and centrifugation equipment also increases.
Similarly, the food and beverage industry in Indonesia is predicted to grow by 16% in 2016, due to increased focus on the construction of factories in the country. Indonesia is a lucrative market for the food and beverage industry as there is a huge population. With growing GDP and an increasing middle-class segment, the demand for variety in food and beverages will drive the market for sedimentation and centrifugation.
Growing need for wastewater management solutions
Sewage wastewater recycling is a major concern for many countries worldwide to protect their environment and prevent water contamination. This has led local municipalities and governments to allocate a special budget for wastewater management and purification solutions. APAC is anticipated to experience the highest demand for centrifuges for wastewater purification. Governments across the globe are implementing regulations to monitor and control water pollution levels.
“This implies that many countries need water and wastewater treatment, which will fuel the of the global sedimentation and centrifugation market,” says Anju.
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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.
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