Unplugging from the old technology, industries are now adopting new and enhanced techniques for industrial processes. Recent study conducted by Journal of Applied Microbiology found that the jet dryers spread 20 times more germs than the traditional warm dryers, and nearly 190 times more than the paper towels at a distance of up to three meters. Moreover, the global industrial dryers market is expected to witness a growth of 3.5% CAGR between 2016 and 2024 according to Persistence Market Research.
Factors Propelling Demand for Industrial Dryers
Compelling need for range of dryers in the manufacturing process will propel demand for various industrial dryers over the coming years. However, with emerging technology, industrial dryers will gradually be replaced in various industries. Further, the replacement rate on an average for industrial dryers will be nearly 7% to 9%. Rotary dryers that mainly find application in chemical, materials, minerals, construction material industries, are reaching a maturity stage in terms of application. Vacuum dryers and flash dryers are witnessing limited application in industries, and will grow at a relatively slow pace in the coming years. Whereas, spray dryers and fluidized bed dryers are at a growing stage, and are likely to witness steady growth over the coming years.
Surge in demand for industrial dryers in the pharmaceutical and food industry will further propel growth of the global industrial dryers market in the span of next seven years. Moreover, in an attempt to maintain premium quality of product, end use industries such as pharmaceutical and food mainly prefer relatively high performance dryer systems. Such factors are likely to rev up demand for industrial dryers in the span of next seven years. Additionally, with the emergence of upgraded technology and increasing preference for enhanced drying technology, industrial dryers are likely to witness a rapid expansion in the application base over the coming years.
In contrast to various factors impacting demand for the industrial dryers positively, stringent regulations imposed by the government regarding the manufacturing process has further compelled industries to intensify their production process in the coming years. Moreover, growing concerns regarding constant industrial expansion is further likely to contribute towards growth of the global industrial dryers market in the span of seven years. In addition, high prices of operations and increasing environmental concerns due to emission of excessive smoke and pollution is further likely to inhibit growth of the global industrial dryers market over the coming years.
Growing trends such as adoption of energy efficient dryers is likely to impact growth of the global industrial dryers market positively. Moreover, market players operating in the global industrial dryers market are increasingly investing in research and development sectors for developing enhanced products and solutions for the market. Manufacturers are witnessed to concentrate on production of dryers that consume relatively low energy, and are further cost effective. Additionally, increasing preference for superheated steam dryers that recover 70-80% energy and have relatively low operating cost is a major trend governing the industrial dryers market globally.
APAC to Dominate the Global Market
Spray dryers among various products will retain dominance, followed by continuous dryers in the span of next seven years. Indirect principle among other principles will witness a robust growth in the global industrial dryers market over the coming years. Food, pharmaceutical and chemical industries among other industrial end users will account for major share of the global market in terms of volume and revenue in the coming years. However, chemical industry among others will witness relatively high growth in the span of next seven years. APAC among other regions will retain dominance over the coming years. Whereas, the industrial dyers market in North America will witness a growth of 3.8% CAGR in terms of sales revenue in the span of next seven years.
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While demand for the industrial dryers is likely to witness a moderate growth, emerging technology will replace the industrial dryers with enhanced technology and new techniques. Various industries are switching over to new versions of manufacturing techniques, and unplugging from the older ones. So, adopt the new techniques if premium quality production is your target.