Farmington, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The Global Plate Fin Heat Exchanger Market Is Expected To Grow At A CAGR Of 16.7% During The Forecast Period 2023-2030. Plate-fin heat exchangers stand out due to their superior construction and performance. Plate-fin heat exchangers consist of a stack of brazed-together flat plates and corrugated fins. Plate fin heat exchangers are more efficient than conventional heat exchangers due to their high surface-to-volume ratio. They are very adaptable and temperature-controllable.
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Plate Fin Heat Exchanger Market Recent Developments:
- In August 2022, SWEP will add the B8DW unit to its line of double-wall heat exchangers. This unit is made for applications that need better leak protection.
- In July 2019, Boyd Corporation, the world's largest provider of solutions for thermal management, environmental sealing, and protection, said it was buying Lytron, a company that specializes in thermal management for liquid cooling. This purchase fits with Boyd's plan to help customers meet their growing needs for liquid-cooled solutions by making more liquid cold plates and heat exchangers for the medical and aerospace markets and by adding more chiller system solutions to its technology portfolio.
- In July 2022, Tranter won an order to replace two existing Shell-and-Tube heat exchangers in an oil refinery in Israel. The new heat exchangers, two large NovusBloc heat exchangers in stainless steel, will be installed in the Atmospheric Distillation process of the refinery, where they will preheat the incoming crude oil with the light gas oil fraction from the Atmospheric distillation column.
Plate Fin Heat Exchanger Market Segmentation Analysis:
By Flow Arrangement Plate-fin heat exchangers are available in three distinct varieties. Crossflow, counterflow, and cross-counterflow are their names. With a counter-flow configuration, you can recover the greatest heat. In counterflow, fluids move adjacently but in opposite directions. From a thermodynamic standpoint, this is the optimal flow configuration. This is the greatest technique to initiate the flow.
People mistakenly believe that this flow is moving in the other way around the globe, however, the term for this phenomenon is cross flow. Cross-flow and cross-counterflow are utilized for identical purposes. This flow arrangement is typically used when the flow rates of the two fluids differ.
This Plate-Fin heat exchanger can be divided into plain fins, wavy fins, and offset strip fins based on their shape. The parts of the plain fins are both triangular and rectangular. The cost of triangular fins is less than that of rectangular fins, but they are not as sturdy. Similar to conventional fins, wavy fins travel back and forth in the opposite direction of the water.
Plate-fin heat exchangers can be utilized in air separation facilities, petrochemical industries, and air conditioning industries. These heat exchangers are utilized in the field of cryogenics to separate and freeze air.
Regional Outlook:
North America would possess the biggest market share. In North America, there are numerous aircraft manufacturers of the highest caliber. Plate-fin heat exchangers are commonly utilized in these sorts of aircraft. As described in market dynamics, the number of planes produced increases as demand rises.
The increase in output is also attributable to the fact that more people are flying international commercial flights. Lockheed Martin is one of the most significant aircraft manufacturers. This corporation earned more in 2017 than in 2016 when it earned $47.2 billion. This increase in income indicates that productivity has increased. This suggests that the global Plate-Fin Heat Exchanger market could expand significantly.
Middle East Countries would have the second-greatest share at the conclusion of the predicted period. The majority of this share would be due to the presence of natural gas refineries in these nations.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 16.7% from 2023 to 2030 |
| By Type |
|
| By Applications |
|
| By Companies | SWEP International, Kaori Heat Treatment, Xylem Inc., Diversified Heat Transfer, Advanced Industrial Components Inc, Sondex, Lytron, Triumph Group, Tranter, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
This market is primarily driven by the increased production of aircraft and automobiles. Plate-fin heat exchangers are commonly employed in the construction of airplanes due to their minimal weight. In an airplane's system, these heat exchangers are utilized to manage the climate, cool the avionics, cool the hydraulic oil, and heat the fuel. The increased demand for aircraft has led to an increase in the number of aircraft produced. Over the next two decades, 38 thousand of aircraft are anticipated to be manufactured worldwide. Plate-fin heat exchangers will be utilized since manufacturing will increase.
Plate-Fin Heat Exchangers are utilized in the automobile industry due to their diminutive size. Example vehicle radiators. In 2016, the world sold 69,506,887 automobiles. In 2017, this figure increased to 70,849,456.
Plate Fin Heat Exchanger Market Key Segments Covered:
Top Market Players:
SWEP International, Kaori Heat Treatment, Xylem Inc., Diversified Heat Transfer, Advanced Industrial Components Inc, Sondex, Lytron, Triumph Group, Tranter, and Others.
By Type:
- Plain
- Perforated
- Serrated
- Herringbone
By Application:
- Residential
- Industrial
- Commercial
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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