Industrial Centrifuges Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Industrial Centrifuges Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The industrial centrifuges market is expected to reach USD 6.79 billion by the end of this year and is projected to register a CAGR of over 4.48% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.

• Over the long term, the growing demand from the chemical industry is expected to stimulate the market growth of the industrial centrifuges market. Furthermore, increasing investments in the chemical and manufacturing industry are expected to drive the growth of the market studied.
• On the other hand, highly volatile crude oil prices and technical drawbacks of centrifuges are expected to hamper the growth of the studied market during the forecast period.
• Nevertheless, increasing demand from water treatment plants worldwide is likely to create lucrative growth opportunities for industrial centrifuges in the forecast period
• Asia-Pacific region is likely to dominate the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with demands from processed food industry, pharmaceutical sector, and wastewater treatment industries.

• Chemical separation technology plays a vital role in chemical engineering, and industrial centrifuge is the key for various separation technologies. In the chemical industry, the centrifuge has multiple applications in hydrometallurgy, plastic chemical fiber, refining biological products, isotope separation, etc.
• They are also used to prepare nanomaterials, desulfurize flue gas, and produce fertilizers and pesticides. Most of the raw materials and products utilized in chemical production are mixtures of components, which need to be separated and purified by using the difference in their properties in the system or by a separating agent.
• The removal of catalysts in the chemical process is an important step as they are often valuable recyclables, such as platinum, cobalt, and manganese. Catalysts are chemical substances that accelerate the reaction rate and do not change themselves. The explosion-proof nozzle-type centrifuges are special industrial centrifuges used to separate catalysts during the chemical process.
• With the rapid development of the chemical industry, the separation technology of chemical centrifuges has also achieved rapid development. For instance, GEA, a global provider of innovative equipment and process technology, launched a TTC 300 series of industrial centrifuges for manufacturing polymer and polycarbonates in 2021. The product employs a multi-stage wash cycle to separate the pure organic polymer solution from the acidic wash liquid.
• The global chemical industry plays a significant role in the global economy and supply chain network. In 2021, global chemical imports amounted to EUR 2.3 trillion, while chemical exports stood at EUR 2.2 trillion at the end of the year. In 2021, the Asia-Pacific region played a significant role in the global chemicals market and accounted for roughly 60 percent of the market. China alone is largely responsible for the recent increases in Asia’s growing exports and consumption of chemicals, as in 2021, Chinese chemical consumption accounted for approximately EUR 1.8 trillion.
• Owing to this factor, the demand for industrial centrifuges in the chemical sector is expected to increase in the region during the forecast period to meet the manufacturing and production quantities of chemicals.

• Asia Pacific is one of the fastest growing centrifuges markets, owing to the presence of China, which has one of the highest demands from the chemical and manufacturing industry, pharmaceutical sector, and wastewater treatment industries. Additionally, the demand for electricity is growing at a rapid rate in South Asian countries like India, Indonesia, Malaysia, etc, on account of a surge in population and industrial expansion.
• China is the second largest economy globally and one of the leaders in numerous power, pharmaceutical and chemical, manufacturing, food, and beverage industries. Due to these factors, China accounts for a significant share of the global industrial centrifuges market.
• China has been an essential factor in the growth of the manufacturing sector worldwide. The country is the leader in the steel, chemical, power, and cement industries and is one of the top players in the petrochemical and refining industries.
• Japan's manufacturing industry has been the driving force for its economy, making it one of the world’s largest manufacturing hubs. In FY2019-20, the manufacturing industry accounted for about 20% of the country's total GDP. The chemical industry is the country's second-largest manufacturing industry in Japan, after transportation machinery.
• The improved profitability in petrochemicals and tightened supply conditions resulting from production facility issues at Japanese and overseas companies are some of the factors expected to fuel the growth of the chemical industry during the forecast period. As centrifuges are used in chemical and petrochemical processing, the moderate growth in the chemical industry and associated infrastructure is anticipated to drive the country's demand for industrial centrifuges.​
• The Japanese chemical industry was the fourth most extensive worldwide, following China, the United States, and Germany. Since other industries, such as transportation machinery and the automotive industry, depend on numerous materials provided by the chemical industry, it is one of Japan's most essential and largest manufacturing industries.
• Furthermore, the chemical industry was one of the largest employers of the manufacturing industries in Japan. Further, innovations and technological advancements in the chemical industry and investments in the construction and expansion of chemical plants are expected to drive the demand for industrial centrifuges.
• Therefore, with increasing demand from various end user industries in the region, Asia Pacific is likely to be a market leader in forecast period.

The global industrial centrifuges market is moderately fragmented, Some of the major players in the market (in no particular order) include Andritz AG, Multotec Pty Ltd, Alfa Laval AB, GEA Group, Flottweg SE, and others.

• The market estimate (ME) sheet in Excel format
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