Spray Drying Equipment Market Size, Major Strategies, Leading Companies and Revenue Share Analysis by 2028
The global Spray Drying Equipment market was valued at USD 4,583.3 Million in 2020 and is expected to reach USD 7,020.7 Million by 2028, at a CAGR of 5.5%. The study covers the different equipment used for spray drying, its applications and the demand and supply trends. Spray drying is technique used to convert liquid molecules into solid powder form with the help of gaseous hot-drying medium. This equipment is finds its application by the liquid to be converted into powder is sprayed into a hot-chamber, which falls down in the form of fine powder particles. This dry powder consists of low density and is extensively used in pharmaceutical and food industry, for example, milk powder. This technique is gaining popularity owing to its properties like consistent particle size distribution, which is of high importance for several products like the catalyst. The development and expansion of chemical industry is expected to drive the global industry. Owing to the precision and ease provided by the technique is employed in various applications such as in manufacture of chemical fertilizers. On account of high investment in agricultural sector, favorable government policies, introduction of new hi-tech seeds and need for increased productivity has led to an increase in the usage and demand for fertilizers. This is eventually expected to drive the industry during the forecasted period. Apart from chemical industry, this technique is also widely used in food industry. For example, spray drying technique is used for encapsulation of food ingredients, flavors and nutrients. However, the technology has huge potential which is beyond mere dehydration. Some of the additional benefits provided by the equipment are enhanced dissolvability, better flow properties and non-dusty powders.
Wide range of applicability, increase in demand for processed food products, growing agricultural sector, expansion of food industry, increase in geriatric population, and high demand for pharmaceutical products are some of the factors driving the market growth of spray drying equipment. However, high installation and operational cost, high thermal energy consumption, high emission of toxic gases and strict government regulation regarding the environmental concerns are the major factors hindering the market growth during 2019-2026.
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Key participants include GEA (Germany), SPX FLOW (US), Dedert Corporation (US), Buchi Labortechnik (Switzerland), European Spraydry Technologies (UK), Changzhou Lemar Drying Engineering Co. Ltd. (China), Shandong Tianli Drying Technology and Equipment (China), Acmefil (India), New AVM Systech (India), C. E. Rogers (US), Advanced Drying System (India), and Labplant (UK).
Further key findings from the report suggest
- The Equipment market is growing at a CAGR of 6% in Asia Pacific followed by North America and Europe, with 7.1 % and 6.9% CAGR, respectively. Increased adoption of new technology by the food and pharmaceutical companies is the significant factor to accelerate the industry growth during forecast period across all regions
- As of 2018, Nozzle Atomizer is the dominating which holds 35.5% of the global share. North American region is the chief revenue generating source for this product segment, followed by Asia-Pacific and European regions.
- Some of the strategies adopted by the manufacturers include partnership, expansion, new product launch and mergers & acquisitions in order to increase the market share. For example, European SprayDry Technologies started a new plant in U.K., especially designed to dry a wide range of dairy products while providing maximum flexibility for drying of various products.
- Apart from food and pharmaceutical industry, the equipment have a wide range of applicability across other industries including detergent industry, ceramic industry, dye & pigments industry and polymers & resins industry.
- Fluidized method is used extensively in food industry for producing minute and high quality powders from milk products, food colors, vegetable proteins, soup mixes and edible enzymes.
- Increase in investments is expected to raise the demand for spray drying equipment in the coming years. For instance In September 18 2018, Thermo Fisher Scientific announced an investment of USD 30 million to expand their spray drying capabilities.
- Moreover, increased in international trading activities related to food products is expected to propel the industry growth during the forecast period. For example, GEA along with its partner Fonterra announced the installation of world’s second largest plant in Fonterra plant in New Zealand. Fonterra will export the premium milk powder produces from the new plant to international markets in China and South-East Asia.
- Asia Pacific is expected to account for the 29.5% of the market, developing nations such China and India are also likely to witness high growth.
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For the purpose of this report, Reports and Data has segmented the Spray Drying Equipment market on the basis of type, stage type, flow type, cycle, application and region:
Type (Revenue, USD Million; 2018–2028)
- Rotary Atomizer
Stage Type (Revenue, USD Million; 2018–2028)
Flow Type (Revenue, USD Million; 2018–2028)
Cycle (Revenue, USD Million; 2018–2028)
Application Type (Revenue, USD Million; 2018–2028)
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Moreover, the report offers an accurate forecast estimation through a thorough analysis of the historical data (2017-2018) while considering 2019 as the base year. The data offers a panoramic view of the market, assisting the readers to gain valuable insights into the Spray Drying Equipment market. To impart better understanding of the market, the key statistical data is organized into pictorial representations such as charts, graphs, tables, diagrams, and figures.
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