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| Industrial Dryer Market Growth |
The Industrial Dryer Market is estimated to be valued at US$ 1.37 Bn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Industrial dryers are used in various process industries like food and
beverage, chemical, mining, fertilizers and pharmaceuticals to dry wet
materials through mechanical, direct or indirect heat additions. These dryers
help control moisture levels in a material which is necessary for various
downstream industrial processes. Common products dried using industrial dryers
include grains, herbs, chemical and mineral slurries, coated paper and pharma
formulations among others.
Market Dynamics:
Rising consumption of processed foods globally is a major driver for the
industrial dryer market. Growing population and increase in disposable income
in developing nations is propelling the demand for processed and packaged food
products which require industrial drying. Additionally, stringent regulations
regarding moisture levels in chemicals, minerals and pharmaceuticals is also
fueling the installation of industrial dryers across industries. However, high
initial investment and maintenance cost of industrial dryers can hinder market
growth.
Segment Analysis
The Industrial
Dryer Market Growth is dominated by rotary dryers which account for
over 30% market share. Rotary dryers are widely used for drying thick or
viscous materials in various industries such as construction, mining, food
processing, chemicals etc. Rotary dryers are preferred as they ensure uniform
drying, require less floor space and deliver higher productivity than other
types.
PEST Analysis
Political: Changes in environmental regulations regarding carbon emissions can
impact demand for energy-efficient dryers.
Economic: Market growth is positively influenced by expansion of process
industries and infrastructure development in emerging economies.
Social: Increasing health awareness and demand for hygienic dried food products
drives adoption of industrially dried ingredients.
Technological: Advancements in automation, controls and energy recovery systems
facilitate optimal and sustainable dryingoperations.
Key Takeaways
The global Industrial Dryer market is expected to witness high growth,
exhibiting CAGR of 5.1% over the
forecast period, due to increasing need for continuous production processes in
process industries. Regional analysis showed Asia Pacific is the fastest
growing as well as dominating region holding over 35% share due to robust
growth of key end-use industries in major economies like China and India. Key
players operating in the industrial dryer market are Carrier Vibrating
Equipment Inc., ThyssenKrupp AG, Buhler Holding AG, FEECO International Inc.,
CAD Works Engineering Ltd., Glatt GmbH, Metso Corporation, ANIVI IngenierÃa SA,
FLSmidth& Co. A/S, Andritz AG, GEA Group, Aktiengesellschaft, Comessa. The
global market size for industrial dryer reached US$ 1.37 Bn in 2023 and is
estimated to surpass US$ 2 Bn by 2030 driven by rising adoption in food
processing, pharmaceutical and cement industries.
Read More: https://www.ukwebwire.com/industrial-dryer-market-is-estimated-to-witness-high-growth/