The global contact and convective dryers market is on a steady growth trajectory, with estimates projecting a valuation of over US$ 252.4 million by 2029, registering a substantial Compound Annual Growth Rate (CAGR) of 3.4%. This upward trend is underpinned by the growing emphasis on drying processes across industries, recognizing it as a critical factor in preserving product quality.
The market dynamics for contact and convective dryers are being shaped by a combination of factors, including their relatively high energy consumption rates. As industries seek to balance productivity with sustainability, the energy efficiency of drying processes has come under scrutiny. This scrutiny is further amplified by government regulations and limits aimed at reducing energy consumption and environmental impact. These factors collectively drive the market, as companies strive to adopt more energy-efficient drying solutions to remain compliant and reduce their carbon footprint.
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FMI Study Identifies Industrial Drying’s Vital Role in Fueling Contact and Convective Dryers Market Growth:
Industrial drying, a cornerstone in safeguarding product quality, has emerged as a pivotal catalyst propelling the expansion of the contact and convective dryers market, as revealed by the comprehensive study conducted by FMI. Within the intricate landscape of unit operations, industrial drying takes a prominent position, fueled by the relentless pursuit of “operational efficiency” across end-user industries.
The FMI study underscores the significance of contact and convective dryers, particularly in their capacity as intermittent drying equipment. In the journey ahead, these dryers are slated to occupy a central role in 2022 and beyond. Their pivotal function lies in addressing fundamental drying prerequisites, priming products for subsequent intricate drying stages. Nonetheless, manufacturers are poised to grapple with challenges including limited installation rates and a low replacement ratio, intricacies that underscore the delicate equilibrium within the contact and convective dryers market.
Key Takeaways from the Global Contact & Convective Dryers Market Insight:
- Steady Demand Growth: The global contact & convective dryers market experienced a consistent demand surge, achieving a notable 2.9% compound annual growth rate (CAGR) during the assessment period from 2014 to 2021.
- Functional Excellence: These dryers, essential in industrial operations, play a pivotal role by supplying essential heat for evaporation and moisture removal. Their distinct attribute lies in delivering uniform and dependable heating throughout the vessel, significantly enhancing end product quality and durability.
- Enhanced Application Scope: As intermittent drying equipment, contact & convective dryers are harnessed across diverse sectors including food & beverage, chemicals, metallurgy, pharmaceuticals, and manufacturing. This versatility stems from their efficacy in reducing moisture and facilitating product curing.
- Emerging Economic Drivers: The thriving chemical and pharmaceutical industries, notably in burgeoning economies such as China and India, are instrumental in propelling market demand. This growth trend paves the way for a projected 3.4% CAGR from 2022 to 2029, signaling sustained expansion for the global contact & convective dryers market.
Key Companies Profiled in Report:
- Andritz-Gouda B.V.
- GEA Group AG
- FLSmidth
- ThyssenKrupp AG
- Meter Group, Inc
- Others
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Key Segments Covered:
By Product Type:
- Contact
- Convective
By Orientation:
- Horizontal
- Vertical
By Application:
- Pharmaceuticals
- Metallurgy
- Food & Beverages
- Chemicals
- Auxiliary Manufacturing
By Region:
- North America
- Europe
- Latin America
- South Asia
- East Asia
- Middle East & Africa (MEA)
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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