Dublin, July 22, 2019 (GLOBE NEWSWIRE) -- The "Adsorption Equipment Market by Capacity (Less than 10,000 CFM, 10,000-50,000 CFM, and More than 50,000 CFM), End-use Industry (Automotive Paints, Chemical, Semiconductor, and Printing), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global Adsorbent Equipment (FBC) Market size was USD 355.4 million in 2017 and is projected to reach USD 478.2 million by 2023, at a CAGR of 5.3% between 2018 and 2023.
The increasing demand for adsorption equipment in various end-use industries is projected to drive the demand for this type of equipment. Stringent regulations to control VOC emissions are expected to increase the demand for adsorption equipment. However, the availability of low-cost alternatives such as fixed bed adsorber is expected to hamper the market growth.
FBC, one of the types of adsorbent equipment, is a system designed and developed to capture and mitigate VOCs and HAPs from industrial process exhausts. Adsorbent equipment (FBC) consists of three main systems, the adsorber system in which the VOCs are captured; the desorber system in which the VOCs are heated and released; and the thermal oxidizer system in which the VOCs are destroyed. BAC, zeolites, and polymeric adsorbents are the commonly used adsorbent media in the equipment for VOCs control. Adsorbent equipment (FBC) is mainly used in the automotive paints, chemical, printing, semiconductor, food & beverage, and pharmaceutical end-use industries.
The demand for Adsorbent equipment (FBC) is mainly driven by stringent regulations to control VOC emissions. The manufacturing industries such as automotive paints, chemical, semiconductor, printing, and paper have to comply with VOC mandates to control air pollution. This, in turn, is expected to propel the demand for Adsorbent equipment (FBC).
The industrial growth in APAC is expected to create lucrative growth opportunities for the Adsorbent equipment (FBC) manufacturers. Easy access to raw materials, low production costs, and easy availability of labor have fueled the growth of the automotive, chemical, food & beverages, and pharmaceutical industries in the region.
These factors have attracted leading multinational manufacturers to the region, which, in turn, is expected to drive the Adsorbent Equipment (FBC) Market. However, the high installation cost is expected to be a major challenge for the Adsorbent equipment (FBC) manufacturers. The cost of installation is 20-25% of the overall equipment cost, thus hindering end users to install this equipment.
Market Dynamics
Drivers
- Regulations Regarding VOC Emissions Impelling the Need for Adsorbent Equipment
Restraints
- Presence of Alternative Pollution Control Technologies
Opportunities
- Industrial Growth in APAC
Challenges
- High Cost of Installation and Operation
Companies Mentioned
- CECO Environmental
- Chemisch Thermische Prozesstechnik GmbH (CTP)
- Durr Aktiengesellschaft
- Eisenmann SE
- Environmental C & C Inc.
- Evoqua Water Technologies LLC
- Gulf Coast Environmental Systems
- Monroe Environmental Corp
- Taikisha Limited
- TIGG LLC
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