Top three end-use trends driving adsorption equipment market growth over 2019-2025
Publisher : Fractovia | Published Date : 2019-12-20Request Sample
Rapid increase in public awareness regarding adverse health effects from the exposure to VOC emissions will drive adsorption equipment market. VOCs (volatile organic compound) are emitted through various industrial processes such as automotive paint shops, chemicals, printing press, and semiconductor industry. Excessive exposure to VOCs can lead to severe health problems like irritation of eyes, nose and throat, including difficulty in breathing and nausea. Moreover, regular exposures can seriously cause damage to the nervous system and other organs of the body, which makes adsorption equipment mandatory.
Over the last few years, the presence of a stringent regulatory scenario pertaining to the emission of VOC content has been promoting various industry sectors to deploy adsorption equipment. The end-use sectors including automotive, electronics, furniture manufacturing, wastewater treatment, and printing have been rapidly adopting adsorption equipment. Some of the primary factors which will influence adsorption equipment market growth during the forecast period are stated underneath.
Automotive industry ?Rapid growth in automobile manufacturing to fuel market size
The automotive industry is one of the major contributors toward increasing the atmospheric VOC levels owing to the paint shop activities. The paint used for decorating and protecting metal and plastic parts contain organic polymers and solvents. Most of the VOC emissions come from spraying operations of the solvent based paints which emit gaseous solvent compounds. Additionally, VOCs are also present in the newly produced automobile upholsteries like the seats, dashboard, and other interiors, made from materials like rubber, plastic, foam, and leather.
The ever-expanding automotive industry will generate immense demand for adsorption equipment owing to the high intensity of VOC emissions. Increasing disposable income coupled with easy credit availability in the mature markets including Europe, U.S, Japan, and Korea are expected to propel the automobile industry over the forecast period. Similarly, improving financial conditions of the middle-class people in emerging nations such as Brazil, Mexico, India, and China can also fuel automotive demands.
Government initiatives toward local automotive manufacturing will further enhance adsorption equipment industry share from automotive sector. For instance, India's automobile sector attracted $16.5 billion in FDI between April 2000 and December 2016. Currently according to government anticipation, the country's automotive industry will attract more $8-10 billion in terms of local and foreign investments by the end of 2023.
As the automotive industry continues to witness steady growth, adsorption equipment market size is likely to showcase a major surge in the near future. Based on regional analysis, Europe is expected to hold a significant share in the overall adsorption equipment market owing to the extensive presence of automotive industry. Reportedly around 20% of the global automobile production is done within Europe which may boost product demand further aiding to increase adsorption equipment market share.
Printing Industry ?Widespread application trends of printing process to impel product demand
The printing and publication industry is one of the major sources of VOC emissions from the chemical materials used in the printing process. Printing press uses various types of chemicals like inks, cleaning solvent and fountain solutions which all lead to high intensities of VOC emissions. Newspapers, books, magazines, printed plastic bags and even food wrappers are subject to printing processes. Owing to the high demand of these items and the resultant VOC emissions from the printing industry, increasing VOC emission will elevate necessities of deploying adsorption equipment in such facilities.
Pertaining to the growing importance of newspaper which educates, inform, and guides the society, the newspaper industry may witness increased consumption in the upcoming years. In the world's largest democracy like India, newspapers play an important role in educating and informing a huge population of 1.2 billion.
While the newspaper industry in the western countries has been badly affected by the Internet, India still has sizeable amount of readers. The data demonstrates sharp decline in newspaper readership and circulation in the US and Europe owing to the Internet era. But, the Indian newspaper industry is still on the growth path expected to grow by 17.9% in the next five years. The substantial rise in the newspaper industry across the highly populated countries is slated to transform adsorption equipment market trends over the forecast timeframe.
Regulatory norms controlling VOC emissions to strengthen application trends over 2019-2025
High emissions of VOCs from the industries have a wide range of environmental effects which mainly affects the local air quality by producing odor and toxicity. Additionally, it results in formation of photochemical pollution on a regional or metropolitan scale. Pertaining to the aforementioned reasons, VOCs have turned out to be major contributor to growing level of greenhouse gases (GHG).
Stringent government regulations which enforce the deployment of adsorption equipment acts as the best practice leading to curb the VOC emissions before it gets dispersed into the atmosphere.
For instance, Canada has developed an environmental Code of Practice to reduce VOC Emissions owing to the huge presence of commercial and industrial printing industry. The code released in August 1999 focuses on the control over VOC emissions from the clean-up operations and printing process. The code also regulates the storage and handling of VOC containing materials and disposal of wastes.
The high emissions of VOCs produced from the automotive and printing press industries will generate immense product demand. This will be well supported by the stringent government regulations that force deployment of adsorption equipment, further helping to boost industry outlook. According to a research report by Global Market Insights, Inc., adsorption equipment market size is expected to surpass USD 340 million by 2025.
