DUBLIN--(BUSINESS WIRE)--The "Industrial Centrifuges Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global industrial centrifuges market is expected to grow at a CAGR of approximately 4.52% during the forecast period. Factors such as increasing demand for water treatment, in cities worldwide, has been driving the demand for industrial centrifuges market. There is an increasing need for efficient processing of wastewater and sludge, combined with stringent regulatory standards for discharge limits from industrial plants.
Moreover, increasing demand from the pharmaceutical and biotechnological industries is also expected to augment the growth of the industrial centrifuges market. However, volatile crude oil prices and technological constraints related to industrial centrifuges are likely to hamper the growth of the market.
The chemical industry held the largest share of the industrial centrifuges market, in 2019, due to its application for chemical processing, which produces raw products such as acids, salts, oil refinery by-products, polymers, oil-water-solids, and so on.
The increasing demand for an energy-efficient industrial centrifuge is expected to act as an opportunity for the market. For energy-efficient industrial centrifuge, investment costs are usually low relative to the capacity and due to small footprint.
North America is the largest market, in 2019, owing to the presence of the United States, which has one of the highest demands from processed food industry, pharmaceutical sector, and wastewater treatment industries.
- MSE Hiller
- Andritz AG
- Alfa Laval AB
- GEA Group AG
- Multotec Pty Ltd
- Thomas Broadbent & Sons Ltd
- Flottweg SE
- Ferrum Ltd
- HAUS Centrifuge Technologies
Key Market Trends
Chemical Industry to Dominate the Market
- The centrifuges are used in the chemical sector for chemical processing, which produces raw products, such as acids, salts, oil refinery by-products, polymers, and oil-water-solids.
- The global chemical industry grew by 2.0% in 2019, which was below the 2.7% growth registered in 2018. The slowdown in growth can be attributed to the decline in the demand from the automobile sector. The global automobile sector has been hugely affected by the uncertainty in the future of old model vehicle, as major countries are upgrading the fuel quality to reduce the emissions.
- In Asia, the growth of the chemical industry slowed down to 3.2% in 2019, compared to 3.5% in 2018. The world's largest chemical market, China, was also affected, registering a growth rate of 3.0%, as compared to 4.7% in 2018. The dampening in the growth rate was due to the stagnant demand from the automotive sector and slower momentum in other end-user industries. China is expected to contribute to around 50% of the chemical demand by 2030 and dampening in the growth is not a favorable sign for the market studied.
- Fertilizer production continues to grow, as food producers struggle to keep pace with the expanding population across the world. Fertilizer production plants require large exhaust systems, as well as the turbomachinery systems, such as large air compressors, nitrogen compressors, and ammonia (NH3) refrigeration systems.
- Countries across the world are witnessing a surge to cut down fertilizer imports bills and are promoting domestic production of fertilizers. Countries across the world, including India and China, have undertaken significant overhaul steps in the fertilizer sector, such as India's Make in India initiative for the chemical sector. There is a rising trend of re-opening of the closed fertilizer plants and setting up new ones across the world, which is expected to support the growth of the industrial centrifuges market during the forecast period.
- On the other hand, the COVID-19 has severely impacted the chemical industry. Demand destruction has accelerated the chemical industry into an oversupply situation, which was already looming before COVID-19. The automotive, transportation, and consumer products sectors are among the hardest hit end-markets, with demand for chemicals falling by up to 30% in Q1 of 2020.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of COVID-19 on the Industrial Centrifuges Market
5 MARKET SEGMENTATION
5.3 Operation Mode
5.5.1 North America
5.5.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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