Report : Regenerative Thermal Oxidizer Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Single-Bed, Double-Bed, and Triple-Bed); End User (Automotive, Chemicals, Coating and Printing, Pharmaceuticals, Semiconductors, and Others)
Demand for Regenerative Thermal Oxidizer from Chemicals Industry to Drive Regenerative Thermal Oxidizer Market at 5.2% CAGR during 2020–2027
According to our latest market study on “Regenerative Thermal Oxidizer Market to 2027 – COVID-19 Impact and Global Analysis and Forecast by Type (Single-Bed, Double-Bed, Triple-Bed); End-user (Automotive, Chemical, Coating and Printing, Pharmaceutical, Semiconductor, Others); and Geography” the market was valued at US$ 8.55 billion in 2019 and is projected to reach US$ 11.75 billion by 2027; it is expected to grow at a CAGR of 4.2% from 2019 to 2027. The report highlights the key factors driving the market growth, and prominent players and their developments in the market.
Air pollution control is a common concern in the chemical manufacturing industry due to the increasing stringency of rules on emissions. Therefore, the need to have advanced biological, thermal, and chemical waste treatment solutions is gaining high traction. As chemical processing can be performed in batch or continuous mode, it gives additional challenges for controlling VOC loading and maintaining 25% LEL levels. During the production of chemicals, various corrosive and toxic inorganics are produced that require scrubbing prior to oxidation. Thus, the demand for both scrubbers and oxidizers in the chemicals industry to treat chemical gas emissions and corrosives hence powering the market growth during the coming years. Regenerative thermal oxidizers (RTOs) are the most robust solution for separators, tank vents, chemical production, acid gases, and ceramic kilns applications. Acid production, fertilizer, petrochemicals, ethanol, corn processing, biodiesel, adhesives, specialty chemicals, ammonia, and aromatic hydrocarbons plants, among others, require RTOs for air pollution control. Growth in the adoption of regenerative thermal oxidizers in the chemicals industry is creating significant opportunities for regenerative thermal oxidizer providers. The global chemicals industry is expected to cross US$ 3.09 billion by 2022, which is expected to create significant global demand for regenerative thermal oxidizers.
Alliance Corporation; Anguil Environmental Systems, Inc.; Catalytic Products International; Condorchem Envitech; Eisenmann SE; Filtracní Technika; Spol. sr.o.; Shandong Baolan Environmental Protection Engineering Co., Ltd.; Ship & Shore Environmental, Inc.; Taikisha Ltd.; and The CMM Group LLC are the leading players operating in the regenerative thermal oxidizer market.
COVID-19 Impact on Regenerative Thermal Oxidizer Market
According to the World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are a few of the worst-affected countries due to the ongoing COVID-19 outbreak. The crisis is affecting the industries worldwide, and the global economy is anticipated to take a worst hit in 2020, as well as in 2021. The ongoing pandemic continues to bring long-terms disruption across several major process as well as discrete industries, including automotive, chemicals, general manufacturing, electrical and electronics industry, and pharmaceuticals. However, selected critical industries such as food & beverages, pharmaceuticals, power generation and chemicals have noticed limited disruption during the pandemic across different economies owing to their significance in utilities and essential supplies.
The report segments the global regenerative thermal oxidizer market as follows:
By End User