Global Printed Circuit Heat Exchanger Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Printed Circuit Heat Exchanger Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The Printed Circuit Heat Exchanger is a relatively new process heat transfer option. The product is manufactured using a chemical milling process, the same process used for printed circuit boards. The Printed Circuit Heat Exchanger is a highly robust, highly compact plate heat exchanger with a unique construction process that makes it ideal for high pressure, high temperature applications.

Market Overview:

The latest research study on the global Printed Circuit Heat Exchanger market finds that the global Printed Circuit Heat Exchanger market reached a value of USD 401.27 million in 2022. It’s expected that the market will achieve USD 534.01 million by 2028, exhibiting a CAGR of 4.88% during the forecast period.

Wide application of Printed Circuit Heat Exchanger in oil and gas industry market

Traditional plate or shell and tube heat exchangers have long been used in the process industry. Today, however, with many new applications involving high pressure, high temperature and exposure to corrosive environments, more and more manufacturers are turning to the compact Printed Circuit Heat Exchanger. Currently, the Printed Circuit Heat Exchanger is widely used in the oil and gas industry market. The compact, efficient heat transfer capabilities of the Printed Circuit Heat Exchanger are ideal for many oil and gas applications including preheaters, superheaters, gas compression coolers, high temperature heat exchangers and liquefied natural gas (LNG) exchangers. As a practical, compact solution, the product is especially suitable for areas with a small footprint, such as on ships. For example, in offshore LNG production, when pipelines are unavailable, natural gas is converted into liquids for safe transportation or storage. LNG takes up only a fraction of the space in liquid form, but as part of the process, the natural gas must be cooled to about -260°F, which generates heat. In general, natural gas extraction, liquefaction, transportation, gasification and other processes are inseparable from printed circuit board heat exchangers.

Fluctuations in raw material prices

The Printed Circuit Heat Exchanger can be made from a variety of materials, including different grades of stainless steel, alloy steel, titanium alloys, and austenitic nickel-chromium-based superalloys. Therefore, the raw materials required for the company's production are mainly stainless steel, copper, nickel, titanium and other metal materials. Metal materials such as stainless steel and copper are all commodities, and their prices are easily affected by market economic fluctuations. The supply of major raw materials and the risk of price fluctuations will have a material adverse impact on the company's continued profitability.

Cons of Printed Circuit Heat Exchanger

Printed Circuit Heat Exchangers are sometimes more expensive than other options like shell and tube units, mainly because they require at least an all-stainless steel construction. This is different from shell and tube heat exchangers where carbon steel is usually widely available. Also, while the Printed Circuit Heat Exchanger can handle corrosive and exotic fluids, these fluids must be very clean and free of any debris, solids, etc. At the same time, the commissioning of the Printed Circuit Heat Exchanger requires great care. More than usual attention must be paid to the cleanliness of the associated pipes and equipment. This is mainly due to the thin channels of the Printed Circuit Heat Exchanger, which are prone to clogging. Therefore, in many industries, the use of the Printed Circuit Heat Exchanger requires a fine filter or filter at its inlet. But these filters require regular cleaning, which increases operating and maintenance costs. In general, the Printed Circuit Heat Exchanger has the disadvantage of being relatively expensive and prone to clogging. These shortcomings are one of the factors limiting the growth of the industry.

Region Overview:

In 2021, the share of the Printed Circuit Heat Exchanger market in Europe stood at 73.57%.

Company Overview:

Kelvion
Kelvion is a global manufacturer of industrial heat exchangers for a highly diverse market segment. Kelvion becomes the partner of choice for heat exchange. With plate heat exchangers, shell and tube heat exchangers, fin-and-tube heat exchangers, modular cooling tower systems and refrigeration heat exchangers, the company serves customers in highly diverse global industries: energy; data centers; Chemical industry; oil and gas; marine applications; HVAC and refrigeration; environmental applications and the food and beverage industry.

Alfa Laval

Alfa Laval is a Swedish company. The company started out providing centrifugal separation solutions for dairy products, and is now engaged in the production and supply of special products for heavy industry, the company's products are widely used in heating, cooling, separation and transportation of oil, water, chemicals, beverages, food, starch and pharmaceuticals manufacturing, etc.

Kelvion is one of the major players operating in the Printed Circuit Heat Exchanger market, holding a share of 42.05% in 2022.

Segmentation Overview:

Stainless Steel
The raw material of this type of printed circuit heat exchanger is stainless steel.
Nickel
The raw material of this type of printed circuit heat exchanger is Nickel
Cobalt Based Alloys
The raw material of this type of printed circuit heat exchanger is Cobalt Based Alloys.
Copper
The raw material of this type of printed circuit heat exchanger is Copper.
Titanium The raw material of this type of printed circuit heat exchanger is Titanium.
Among different product types, Stainless Steel segment is anticipated to contribute the largest market share in 2027.

Application Overview:

Hydrocarbon Processing

The Hydrocarbon Processing market includes petroleum refining, natural gas processing, petrochemical, and chemical. In this segment, products can be used for gas compression cooling, liquid recovery, dehydration, and more.

Hydrogen Refueling Station

At the Hydrogen Refueling Station, stored hydrogen must be pre-cooled to about minus 40 degrees Celsius before it can be transferred to the vehicle's fuel tank. The Printed Circuit Heat Exchanger prevents potential damage from excessive temperatures that can damage the tank during the filling process.

The market's largest segment by application is the segment Hydrocarbon Processing, with a market share of 67.30% in 2021.

Key Companies in the global Printed Circuit Heat Exchanger market covered in Chapter 3:

Meggitt PLC
Kelvion
Innowill
Alfa Laval
Vacuum Process Engineering (VPE)
Shaanxi Zhituo Solid-State Additive Manufacturing
DongHwa Entec
Advanced Chemical Etching
Clean Energy Systems, Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Printed Circuit Heat Exchanger market from 2018 to 2029 is primarily split into:

Stainless Steel
Nickel
Cobalt Based Alloys
Copper
Titanium

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Printed Circuit Heat Exchanger market from 2018 to 2029 covers:

Hydrocarbon Processing
Hydrogen Refueling Station
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)