The global pulp drying equipment market is anticipated to reach a valuation of US$ 642.6 million in 2024, driven by plant based meat alternatives. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.7% between 2024 and 2034 and reaching a total valuation of approximately US$ 988.5 million by 2034.
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One of the major factors contributing to the growth of the market is government regulations and sustainability standards. Stringent environmental regulations and sustainability standards imposed by governments and industry bodies are expected to drive pulp and paper manufacturers to invest in eco-friendly and energy-efficient drying equipment to meet compliance requirements.
Equipment that enhances the resilience of the production process to external shocks, such as supply chain disruptions or fluctuations in energy prices, maybe a priority for manufacturers. Economic conditions, including GDP growth and global trade dynamics, can impact the overall demand for pulp and paper products, subsequently influencing the market for pulp drying equipment.
Ongoing research and development in drying technologies, including microwave drying, infrared drying, and other novel methods, can present opportunities for equipment manufacturers to introduce innovative solutions that offer improved efficiency and reduced environmental impact.
The increasing industrialization and demand for paper products in developing economies present opportunities for market penetration. Adaptable and cost-effective pulp drying equipment can find a growing market in these regions.
The emphasis on worker safety and compliance with safety standards are anticipated to drive the adoption of pulp drying equipment with enhanced safety features and automated systems to minimize risks. The growing demand for specialty papers, such as packaging materials with specific properties, can drive the need for specialized pulp drying equipment capable of handling unique requirements.
Companies adopting circular economy principles may explore equipment that supports the recycling and reusing of waste materials generated during pulp and paper production. Integrating AI for predictive maintenance, process optimization, and quality control in pulp drying operations can also increase efficiency and reduce downtime.
Key Takeaways from the Market Study
- Global pulp drying equipment market was valued at US$ 614.5 million by 2023-end.
- From 2019 to 2023, the market demand expanded at a CAGR of 4.4%.
- The market in India is expected to expand at a CAGR of 5.4% through 2034.
- By product type, the rotary drum segment to account for a share of 28.0% in 2024.
- From 2024 to 2034, pulp drying equipment market is expected to flourish at a CAGR of 4.7%.
- By 2034, the market value of pulp drying equipment is expected to reach US$ 988.5 million.
Competitive Landscape
Prominent players in the pulp drying equipment market are:
- Boardman, Inc.
- Super Radiator Coils
- Bepex International, LLC
- FEECO International, Inc.
- Corbett Industries, Inc.
- General Air Products, Inc.
- Marsden, Inc
- GEA Barr-Rosin
- Carrier Vibrating Equipment, Inc.
- Kelvion Inc.
Recent Development
In 2022, Valmet, as a part of its service offerings for tissue producers, innovated a service agreement focused on enhancing the efficiency and safety of the Yankee cylinder, hood, and air system. The dryer section is a significant energy consumer within the tissue-making process, accounting for approximately 70% of the total energy consumption. It also plays a pivotal role as the primary contributor to CO2 emissions in production.
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