PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397096
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397096
Filtration and Drying Equipment Market size was valued at USD 1,432.4 Million in 2022, expanding at a CAGR of 9.1% from 2023 to 2030.
Filtration and drying equipment play a crucial role in determining the quality of pharmaceutical products. Their efficient operation guarantees optimal performance and integrity of the manufactured goods when utilized by customers. Filtration is a technique that involves of elimination of unwanted particles from fluid or gas. Dryers are utilized to reduce the moisture content of substantial amounts of materials. Filtration and drying are critical operations in a variety of industrial processes that require the separation of solid matter from liquid. Solids can be satisfied directly into a dryer, as well as in the case of a filter/dryer, the drying function is performed utilizing the same equipment. The level of containment provided can meet the requirements of GMP and other health and safety regulations frequently encountered by companies. Consequently, Nutsche filters/dryers are widely utilized in various industries such as pharmaceutical, fine chemical, dye, and paint manufacturing, as well as wastewater treatment applications.
The increasing demand for filtration and drying equipment across diverse end-use sectors propels the growth of the Filtration and Drying Equipment Market.
The market is anticipated to be driven by the increasing market demand for filtration and drying equipment across diverse end-use sectors including pharmaceutical, chemical, food and beverage, water and wastewater treatment, and other relevant industries. For example, Filtration and drying equipment are essential in the production of food and beverages, facilitating processes such as separation, purification, and dehydration. The ever-expanding global food and beverage industry drives the need for this equipment. production of food and beverages. The food and beverage industry is expected to grow to USD 8.9 trillion by 2026, according to food and beverages industry statistics. Furthermore, Ongoing advancements in filtration and drying equipment technology, including enhanced efficiency and eco-friendly systems, propel their widespread adoption across diverse industries. However, the High Initial Costs of equipment hampers the growth of the market.
The Global Filtration and Drying Equipment Market is segmented on the basis of Application, Technology, and Region.
The market is divided into three categories based on Technology: Centrifuges, Agitated Nutsche Filter-Dyers (ANFD), and Others. The centrifuges segment dominates the market. Centrifuges employ centrifugal force to separate liquid components or to eliminate moisture.
The market is divided into two categories based on End-User: Pharmaceutical, Chemical, Water and Wastewater Treatment, Food and beverage, and Others. The chemical segment dominates the market. Filtration devices in the chemical industry play a pivotal role in isolating solids from liquids and in purifying chemical substances by eliminating unwanted particles. This separation process is fundamental to various chemical manufacturing workflows.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Asia Pacific dominates the growth of the market, due to increasing R&D expenditure. Increased investment in research and development can result in the creation of cutting-edge filtration and drying technologies, which can enhance the efficiency of various processes and promote eco-friendliness. Such innovation has the potential to stimulate market expansion in the Asia Pacific region. China's total expenditure on research and development (R&D) amounted to nearly 3.09 trillion yuan (about 456 billion U.S. dollars) in 2022, up 10.4 percent year on year, according to the National Bureau of Statistics (NBS). Also, The European pharmaceutical industry is being propelled by various factors such as augmented healthcare expenditure, and escalating R&D investments.
The domain of filtration and drying equipment is vast, encompassing various sectors. The competitive structure is shaped by a combination of experienced market leaders, emerging challengers, and evolving dynamics specific to each sector. Emerging players in the market are specializing in niche technologies, such as advanced membrane filtration and energy-efficient drying processes. Established companies maintain a constant focus on innovation, striving to offer solutions that not only improve efficiency and save energy but also provide cost-effective outcomes. For instance, on 13 May 2022, HLE Glascoat inaugurated its state-of-the-art manufacturing facility in Silvassa. This facility will enhance the company's production capacity for Filtration and Drying Equipment. Equipped with cutting-edge machinery, essential tools, and EOT cranes, the new establishment adheres to the highest safety standards.
The partnership among Amar Equipment as well as HLE Glascoat in May 2023 marks a substantial milestone in the production and marketing of Agitated Nutsche Filter Dryers (ANFDs). By leveraging Amar Equipment's manufacturing expertise and HLE Glascoat's marketing prowess, this alliance aims to revolutionize industry standards. Together, they plan to introduce cutting-edge ANFDs that cater to diverse customer needs and drive progress in the chemical processing industry.