Growth Strategies Adopted by Major Players in Distillation Systems Market


Posted June 29, 2022 by edwardscott1121

The distillation systems market is estimated to be valued at USD 6.17 billion in 2018 and is projected to reach USD 7.91 billion by 2023, at a CAGR of nearly 5.1% from 2018.
 
The report "Distillation Systems Market by Technique (Fractional, Steam, Vacuum, MED), Application (Water Treatment, Food, Beverage, Petroleum, Pharmaceutical, Chemical), Operation (Continuous, Batch), Component, Type, Process, and Region - Global Forecast to 2023", The distillation systems market is estimated to at USD 6.17 billion in 2018 and is projected to reach USD 7.91 billion by 2023, at a CAGR of 5.1%. Factors such as growing industrialization and urbanization have significantly fueled the market growth of distillation systems for various industrial applications. Increasing urbanization leads to a surge in demand for water treatment systems and products from the oil & gas, food & beverage, healthcare, and manufacturing industries. Imposition of regulations and rise in the demand for pure products including water is projected to fuel the demand for the distillation systems. On the account of these factors, the global market is projected to witness significant growth during the forecast period.

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The distillation systems market, based on components, is segmented into column shells, plates & packings, reboilers & heaters, condenser, and others. The column shells segment is estimated to dominate the market with the largest share in 2018 due to the high cost of the components. This is followed by the plates & packings segment, as these are consumable components in the distillation systems and are used largely across industries.

The market, based on technique, is segmented into fractional, steam, vacuum, multiple-effect (MED), and others. The vacuum segment is projected to grow at the highest CAGR among all distillation techniques from 2018 to 2023. The technique is widely used for the separation of components, where chances of decomposition are high due to change in temperature and pressure. Vacuum distillation is commonly used for the separation of heavy hydrocarbon residues that are left during the atmospheric distillation of crude oil.

Based on application, the market is segmented into petroleum & biorefineries, water treatment, food, beverages, pharmaceuticals, cosmetics, and chemicals. Of the various applications, the beverages segment is projected to witness the fastest growth due to the high growth of the alcoholic beverage market. Distillation is an important process used in the manufacturing of alcoholic beverages, such as wine, beer, brandy, gin, rum, whiskey, and vodka. Although the continuous distillation process used in the manufacturing of alcoholic beverages dominates the market segment, the batch distillation process is also used significantly to manufacture alcoholic beverages with various flavors and different percentage levels of alcohol.

The Asia Pacific market has witnessed robust growth in the distillation systems market. The Asian subcontinent is an emerging market, which is growing at a rapid pace. Desalination requirements, high consumption of alcoholic beverages, and the rising potential for industrial growth highlight the positive growth prospects in the region. Countries such as China, India, South Korea, Australia, and Japan are among the key manufacturing hubs in the region. Distillation system manufacturers are mainly focusing on expanding their presence in the Asia Pacific market through new product launches and expansions to strengthen their position. The growing R&D activities by governments as well as private organizations in the region is projected to drive the market growth. Technological advancements in Asia Pacific countries due to the development of infrastructure provides a potential scope for innovation in the production of distillation systems, thereby improving their cost-effectiveness and output.

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This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as GEA (Germany), Alfa Laval (Sweden), SPX FLOW (US), Sulzer (Switzerland), Core Laboratories (Netherlands), PILODIST (Germany), Anton Paar (Austria), Praj Industries (India), L&T Hydrocarbon Engineering (India), EPIC Modular Process Systems (US), BĂśFA Composite System (Germany), and Bosch Packaging Technology (Germany).
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Issued By MarketsandMarkets™
Country United States
Categories Business , Food , News
Tags distillation systems , distillation systems market
Last Updated June 29, 2022