SEATTLE, May 25, 2020 (GLOBE NEWSWIRE) -- Industrial dryer is used to process large quantities of bulk materials that need reduced moisture levels. There are different types of industrial dryers depending on the type and quantity of material to be processed, conduction dryers, convection dryers, dispersion dryers, fluidized bed dryers, pharmaceutical dryers, rolling bed dryers, rotary dryers, suspension/paste dryers, and toroidal bed are some of the most commonly used industrial dryers.
The global Industrial dryer market is estimated to account for US$ 2,929.7 Mn in 2019 and is expected to grow at a CAGR of 3.5 % over the forecasted period 2020-27.
Market Drivers:
Significant growth in the pharmaceutical sector is expected to propel growth of the global industrial dryers market over the forecast period. For instance, according to Pharmaceutical Research and Manufacturers of America, over 750 orphan drugs were approved in the U.S. in 2018, compared to over 600 in 2017.
Moreover, increasing demand for gelatin is also expected to boost growth of the market. Gelatin is used in functional and nutraceutical foods, which increases demand for food-grade gelatin, collagen peptide and sub protein. Gelatin dryer is used in drying stage of gelatin products.
Market Opportunities:
Increasing demand for food is expected to lead to high demand for organic fertilizer dryers, thereby offering lucrative growth opportunities for players in the market. For instance, according to Food and Agriculture Organization, worldwide food demand is expected to increase by 70% by 2050.
Moreover, increasing mining activities are expected to boost demand for rotary drum dryers, thereby aiding in growth of the market. For instance, according to India Brand Equity Foundation, mineral production in India grew at a CAGR of 5.72 per cent between 2013-14 and 2017-18E to reach US$ 17.62 billion in 2017-18.
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Key Takeaways:
- Asia Pacific holds the dominant position in the global Industrial dryer market and is expected to witness significant growth over the forecast period 2020-27. This is owing to emerging economies such as China and India. Emerging economies such as India and China are growing rapidly with high growth of various industries such as chemicals, food, pharmaceutical, and mining & minerals. Industrial dryers find major applications in the aforementioned industries. The efficiency of the drying process has a massive impact on the quality of the product and its efficiency as well. Furthermore, the availability of a large number of dryers and their suitability for all kinds of materials have resulted in a dramatic rise in demand from end-use industries.
- Among End-use industry segment, Chemical sub segment is expected to dominate the global Industrial dryer market over the forecasted period 2020-27. This is owing to the significant growth in the chemical industry in the last 2-3 years. For instance, According to the ICCA Economic Analysis Report 2019, Companies in the chemical industry have spent about US$ 3 Trillion in 2017 for buying good, services and machinery. Moreover, the quality of the product in the pharmaceutical industry is a major concern. This is also important due to strict government regulations over product quality and its specification in food and pharmaceutical industry. Generally, products in the industries are heat sensitive that require suitable devices for drying process.
- Among Product Type segment flash dryer sub segment is expected to create a lucrative opportunity for global Industrial dryer market as these flash dryer have various advantages. The basic design of the Flash dryer can be changed according to the requirements. Also flash dryer has high production capacity than the other drying machines.
Competitive Landscape:
Major players operating in the global industrial dryers market include, Metso Corporation, Anivi Ingenieria SA, ThyssenKrupp AG, YAMATO SANKO MFG. CO. LTD., ANDRITZ AG, Wuxi Modern Spray Drying Equipment Co., Ltd, Bühler Group, Ventilex Inc., GEA Group, Comspain XXI S.A., Carrier Vibrating Equipment, Inc., FEECO International, Inc., HEINKEL Drying and Separation Group, Mitchell Dryers Ltd., Spooner Industries Ltd, Changzhou Fanqun Drying Equipment Co. Ltd., and Changzhou Yibu Drying Equipment Co., Ltd.
Key Developments:
Major players in the market are focused on adopting various marketing strategies to enhance their market share. For instance, in January 2020, Metso Corporation announced to demonstrate its product portfolio at CONEXPO-CON/AGG 2020.
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Market Segmentation:
- By Product Type
- Fluidized Bed Dryer
- Batch
- Continuous
- Rotary Dryer
- Spray Dryer
- Flash Dryer
- Vacuum Dryer
- Other
- By Operating Principle
- Direct Drying
- Indirect Drying
- By End-use Industry
- Food
- Fertilizer
- Chemical
- Construction Material
- Paper & Pulp
- Pharmaceutical
- Others
- By Regions
- North America
- Europe
- Asia Pacific (APAC)
- Latin America
- Middle East & Africa (MEA)