Global Adsorption Equipment market, which accrued nearly 400 (USD Million) in 2019, is set to record the CAGR of nearly 5.7% over the period from 2020 to 2026.
Adsorption Equipment Market
The global Adsorption Equipment market, which accrued nearly 400 (USD Million) in 2019, is set to record the CAGR of nearly 5.7% over the period from 2020 to 2026. The report offers assessment and analysis of the Adsorption Equipment market on a global and regional level. The study provides an in-depth assessment of the industry competition, limitations, sales revenues, opportunities, emerging trends, and industry-validated information. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Adsorption equipment is utilized for binding molecules to a surface in a stream of processes and is used in myriad industries for controlling odor and recovering of volatile solvents like benzene, trichloroethylene, and ethanol. It is also used for drying gas streams processes. Moreover, in order to control air pollution particular gases & vapors are required to be separated from inert gas and this will prompt the product demand in the coming years.
Market Growth Dynamics
Increase in the health problems owing to surge in emissions of volatile compounds has compelled various governments for enacting strict laws for curbing them. This, in turn, will steer the growth of the adsorption equipment industry over the forecast timeline. Moreover, it has become necessary for the players in automotive paints, food & beverages, chemical, pharmaceutical, and chemical industries to reduce GHG emissions due to strict government guidelines and this will create lucrative growth avenues for the market over the estimated period.
Furthermore, the market for adsorption equipment is likely to gain traction over the forecasting period due to the ability of the device in using non-destructive control systems for removing pollutants from lower to medium concentrations of liquid & gas streams. In addition to this, favorable government policies and huge funding prompting the production of the device will steer the growth of adsorption equipment industry over the estimated timespan. Surge in the use of the product for carbon adsorption in printing activities will fuel the market growth. Apparently, rise in the product usage in wastewater treatment for curbing the harmful effects off the wastewater on environment will further boost the industry trends.
Asia Pacific Market To Register Highest Growth Rate Over 2020-2026
The growth of the market in Asia Pacific during the forecast timespan is owing to implementation of strict laws governing VoC emissions in the countries like Thailand, China, India, and Japan. In addition to this, the zone being the key production base for pharmaceutical, chemical & petrochemicals, paper, and printing sectors is likely to proliferate the regional market growth in the next few years.
The key players leveraging the market growth are Gulf Coast Environmental Systems, Evoqua Water Technologies LLC, Environmental C & C Inc., Durr Aktiengesellschaft, CECO Environmental, TAIKISHA LIMITED, Chemisch Thermische Prozesstechnik (CTP) GmbH,TIGG LLC, and Monroe Environmental Corp.
The global adsorption equipment market is segmented as follows:
By End-use industry:
Increase in the health problems owing to surge in emissions of volatile compounds has compelled various governments for enacting strict laws for curbing them. This, in turn, will steer the growth of the adsorption equipment industry over the forecast timeline.
The CAGR of the industry is expected to be nearly 5.7% during the forecast timeline.
Asia Pacific will contribute remarkably towards the global market share over the estimated timeline.
The key market players include CECO Environmental, Durr Aktiengesellschaft, TIGG LLC, Evoqua Water Technologies LLC, TAIKISHA LIMITED, Chemisch Thermische Prozesstechnik (CTP) GmbH, Gulf Coast Environmental Systems, Environmental C & C Inc., and Monroe Environmental Corp.