Global VOC Recovery and Abatement Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global VOC Recovery and Abatement Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Volatile organic compounds (VOCs) are organic chemicals that readily produce vapors at ambient temperatures, and are therefore emitted as gases from certain solids or liquids. VOCs include a variety of chemicals, some of which may have short- and long-term adverse health effects. VOC Recovery and Abatement System is a system to combust, recover and refine volatile organic compounds (VOCs) which are exhausted from facilities. Due to the usage of VOC Recovery and Abatement systems, VOCs in the targeted exhaust gases can be filtered or combusted and purified air can be released to the atmosphere.

Market Overview:

The latest research study on the global VOC Recovery and Abatement market finds that the global VOC Recovery and Abatement market reached a value of USD 4084.58 million in 2022. It’s expected that the market will achieve USD 5059.51 million by 2028, exhibiting a CAGR of 3.63% during the forecast period.

In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, affected by the supply of raw materials and labor shortages.

For the VOC Recovery and Abatement industry, the blockade policy will affect the supply of raw materials and trade of products. The social distancing policy may have a great impact on the production of products, especially for some factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after the production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect the development of enterprises.

But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Fluctuation of raw material prices

VOC Recovery and Abatement system consist of various parts, such as boiler, gas compressor, vaporizer, tank, etc. The cost of raw materials accounts for a large proportion of the total cost. The fluctuation of raw material price will directly affect the cost of raw materials. The price of raw materials rises, and the cost of enterprises increases. The price of raw materials decreases, and the cost of enterprises decreases. Due to the fluctuation of market supply and demand and the promotion of capital market, the prices of different raw materials show different trends. Generally speaking, this will be a fluctuating state.

Strict policies and regulations will bring new growth impetus to VOC Recovery and Abatement industry.

The U.S. EPA regulates VOCs at Federal level in 40 CFR 59, which is the National Volatile Organic Compound Emission Standards for Consumer and Commercial Products. VOC controls for products are typically based on the application of products, such as: Aerosol Coatings; Architectural Coatings; Automobile Refinish Coatings; Consumer Products. While the Federal VOC Limits are designed to maintain nationwide air quality for environmental and human health reasons, the Clean Air Act requires States to maintain air quality. Some States have challenges meeting the required air quality, and must implement State Implementation Plans (SIPs) to address air pollution. In order to address their air pollution issues, many of these States will regulate their VOC Limits to a stricter standard than that set by the Federal government. Emissions can be reduced by making process changes (such as switching to low VOC content coatings), or by installing air pollution control equipment (such as carbon adsorbers or incinerators).

The VOC Solvents Emissions Directive is the main policy instrument for the reduction of industrial emissions of volatile organic compounds (VOCs) in the European Union. It covers a wide range of solvent using activities, e.g. printing, surface cleaning, vehicle coating, dry cleaning and manufacture of footwear and pharmaceutical products. The VOC Solvents Emissions Directive requires installations in which such activities are applied to comply either with the emission limit values set out in the Directive or with the requirements of the so-called reduction scheme. The Directive sets out emission limit values for VOCs in waste gases and maximum levels for fugitive emissions (expressed as percentage of solvent input) or total emission limit values. The purpose of the reduction scheme is to allow the operator the possibility to achieve by other means emission reductions, equivalent to those achieved if the emission limit values were to be applied. This could be typically achieved by substituting products with a high content of solvents for low-solvent or solvent-free products and changing to solvent free production processes.

Strict policies and regulations will limit VOC emissions, thus prompting manufacturers to seek VOC Recovery and Abatement solutions.

Region Overview:

In global comparison, a significant portion of the revenue was generated in China (26.02% in 2022).

Company Overview:

Air Products is one of the major players operating in the VOC Recovery and Abatement market, holding a share of 2.67% in 2023.

Air Products

Air Products is a world-leading industrial gases company in operation for over 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage.

Wärtsilä

Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets.

Wärtsilä Energy helps customers in decarbonisation by developing market-leading technologies. These cover future-fuel enabled balancing power plants, hybrid solutions, energy storage and optimisation technology, including the GEMS energy management platform.

Segmentation Overview:

As for product types, the Regenerative Thermal Oxidation segment held the largest market share in 2022.

Regenerative Thermal Oxidation

A regenerative thermal oxidizer (RTO) in based on heat-absorbing materials to store heat captured from gas. These materials are located in separate chambers connected by an oxidation chamber, where the hazardous compounds are oxidized. The thermal efficiency of the process is over 90%.

Recuperative Thermal Oxidation

The recuperative method recovers heat from the gases leaving the incineration chamber. The captured heat is used for heating up the VOC emissions coming into the oxidation chamber. Recuperative heat exchangers enable 60–80% recovery of thermal energy.

Catalytic Oxidation

In catalytic oxidation, catalysts are used for oxidizing VOC gases at a temperature that is about 500°C lower than that required for thermal oxidation. Both precious and base metal catalysts can be used. The low temperature of catalytic oxidation means that hazardous secondary pollutants, such as NOx and CO, are not produced.

Direct Fired Thermal Oxidation

Direct-Fired Thermal Oxidizers work by taking in the process emissions and introducing them to a firing chamber through or near a burner operating at temperatures between 1,800 and 2,200 Fahrenheit. Airflow rates in the firing chamber range between 500 to 50,000 standard cubic feet per minute, but keep the emissions contained until the required DRE is reached. Once the emissions have been processed by the thermal oxidizer, safe air and water vapor are released from the chamber.

Adsorption by Activated Carbon

Carbon adsorption is a remediation technology in which pollutants are removed from air by physical adsorption onto the carbon grain.

Rotor Concentrators

Rotary Concentrator Systems are hybrid VOC abatement systems designed to remove and destroy VOC emissions from a process exhaust air stream at or near ambient temperature.

Cryocondensation

Cryogenic condensation uses the extremely cold temperature of liquid nitrogen to cool down gaseous effluents of the chemical industry in order to condense the VOCs they contain.

Application Overview:

In the VOC Recovery and Abatement market, 30.14% of the total value was generated through the Petroleum and Petrochemical segment by application in 2022.

Key Companies in the global VOC Recovery and Abatement market covered in Chapter 3:

Shanghai Lanbao
Nippon Gases
Calgon Carbon Corporation
Epcon Industrial Systems
Anguil Environmental Systems
TANN Corporation
Linde
John Cockerill
Air Products
ANJULE
CECO Environmental
Taikisha
Polaris
Munters
Brofind
KVT Process Technology
Wärtsilä
TOYOBO

In Chapter 4 and Chapter 14.2, on the basis of types, the VOC Recovery and Abatement market from 2018 to 2029 is primarily split into:

Regenerative Thermal Oxidation
Recuperative Thermal Oxidation
Catalytic Oxidation
Direct Fired Thermal Oxidation
Adsorption by Activated Carbon
Rotor Concentrators
Cryocondensation
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the VOC Recovery and Abatement market from 2018 to 2029 covers:

Petroleum and Petrochemical
Packaging and Printing
Plastic and Rubber
Coatings and Inks
Pharmaceuticals
Food Industry
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)