Mass Transfer Equipment Market Expected to Reach $4.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Mass Transfer Equipment Market," The mass transfer equipment market was valued at $2.5 billion in 2021, and is estimated to reach $4.2 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031. The mass transfer equipment industry has a wide range of applications in the chemical sector. It is used in reactions, separations, heat transfer, and many other areas of the chemical industry.

The mass transfer equipment market analysis covers mass transfer equipment demand and sales across various end-use industries. In the biochemicals & biofuels sector, mass transfer equipment is used for the production of biofuels and biochemicals. For instance, this equipment is specially used for methanol recovery, free fatty acid removal, glycerin drying and purification, bio-ethanol distillation, production and purification of lactic acid, bioethanol dehydration, and others. The driving factor for mass transfer equipment market forecast is often a difference in chemical potential. A chemical species flows from high chemical possible targets to low chemical potential areas. As a result, the point at which the chemical potential is uniform frequently specifies the largest theoretical extent of a given mass transfer. In single-stage systems, this usually translates to uniform awareness throughout the phase, whereas in multiphase systems and chemical species frequently prefer one phase over the others and reach a uniform chemical potential, as in liquid-liquid extraction, only after absorbing the majority of the chemical species into the preferred phase. These factors are anticipated to boost the mass transfer equipment market size in the upcoming years.

Higher technology costs are expected to hamper the mass transfer equipment market share in the coming years. Furthermore, there are some restrictions in the gas-to-liquid mass transfer process that might cause an impediment to syngas fermentation for biofuel generation. These constraints are expected to hamper the mass transfer equipment market trends during the analysis timeframe thereby inhibiting the global market growth.

The growing applications of mass transfer equipment market for wastewater & vent gas treatment as well as for product purification is estimated to generate excellent opportunities. For instance, in wastewater treatment, the mass transfer equipment’s are majorly used for recovering valuable components such as isopropyl ether, toluene, methanol, butanol, ethanol, acetone, ammonia, and others. They are also used in the liquid-liquid extraction of pesticides, acetic acid, phenol, dimethylacetamide, and others. Similarly, in product purification, the mass transfer equipment I used for applications namely Xylenes, fatty acids & fatty alcohols, hydrogen peroxide, glycol ethers, glycol, herbicides, dichlorobenzene, and others. Boosting mass transfer efficiency, a unique approach to the construction of the downcomer component of distillation column trays with a uniform fluid flow pattern was presented. The Downcomer Distributor was developed as part of a joint research program between AMT International Inc. (Plano, Texas) and Petronas (Malaysia), with the goal of eliminating deviations from an ideal fluid-flow pattern that occur on typical distillation trays due to reprocessing of fluid on the tray as well as the presence of stagnant liquid areas. Such advances are anticipated to boost mass transfer equipment market growth in the upcoming years.

The global mass transfer equipment market is segmented based on type, application, and region. By type, it is classified into column internals, trays, random packing, structured packing, and others. By application, it is classified into food & beverages, pharmaceuticals, oil & gas, water & waste water treatment, chemical, pulp and paper, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the mass transfer equipment market report include Sulzer Ltd, Koch Engineered Solutions., Beijing Zehua Chemical Engineering Co., Ltd., Finepac Structures Pvt. Ltd., DtEC, MTE Group, Munters Group, Baretti, Tianjin Univtech Co., Ltd., and HAT International Ltd.

Impact of COVID-19 on the Global Mass Transfer Equipment Industry

• Sales of mass transfer equipment are directly proportional to the demand from, the pharmaceutical, and chemical industries. However, various sectors such as chemicals, construction, and pharmaceutical were negatively impacted by the COVID-19 pandemic which has affected the production and demand for mass transfer equipment due to a disrupted supply chain.
• COVID-19 impacted almost all industries and the mass transfer equipment producing companies ceased their operations owing to import-export restrictions, lockdown imposed across several countries, and shortage of labor; the fear of contracting the novel coronavirus led to sluggish demand in the market
• Social distancing norms closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market. Thus, the pandemic has greatly impacted the mass transfer equipment market opportunities and sales.

Key Findings of the Study

• Based on type, the trays sub-segment emerged as the global leader in 2021 and the structured packing sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
• Based on application, the oil & gas sub-segment emerged as the global leader in 2021 and the chemical sub-segment is predicted to show the fastest growth in the upcoming years
• Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period