Centrifugal dryer is a preferred choice in the metal finishing and recycling industry due to its capability to provide uniform drying for lightweight plastic solid. The growth of the global plastic recycling industry is projected to significantly boost market revenue growth. Centrifugal industrial dryer is expected to witness high demand from metal finishing/electroplating applications. The global demand for centrifugal industrial dryer was approximately 7,712 units in 2016. Sales revenue of centrifugal industrial dryer is expected to register a CAGR of 3.9% over the forecast period (2017–2025).
Factors influencing the global centrifugal industrial dryer market growth
The global centrifugal industrial dryer market is expected to gain traction owing to healthy growth in the domestic and export market for automotive components in the coming years. Centrifugal dryers are best suited for lightweight and small-sized parts in various end-use industries, such as metal finishing/electroplating, food & beverages, pharmaceutical and chemical, among others. Additionally, manufacturers in the market provide tailor-made products as per end-user requirements. Such benefits act as a major factor supplementing the adoption of centrifugal industrial dryers. However, the market for centrifugal industrial dryers is largely dominated by products such as fluidized bed dryers, spray dryers and flash dryers, among others. The fluidized and spray dryers collectively hold nearly half of the total industrial dryer market sales, whereas centrifugal dryer has always been a niche product category that has limited application and its use is limited to small-sized and lightweight products. The product struggles for focus by manufacturers as it has limited demand and low profit margins as compared to the other industrial dryer products. This can restrict market revenue growth in the coming years.
Demand from specific end-use industries such as metal finishing and food processing are likely to create new opportunities in the global centrifugal industrial dryer market
Of the different applications utilizing centrifugal industrial dryers, demand from the metal finishing application is anticipated to dominate the global market in the coming years. The metal finishing segment by application is projected to lead the global centrifugal industrial dryer market in terms of revenue share, estimated to hold a value share in excess of 55% throughout the forecast period. Plastic recycling is the second largest segment in the global centrifugal industrial dryer market in terms of value, estimated to hold a revenue share of around 16% throughout the forecast period. The metal finishing segment was valued at US$ 108.3 Mn in 2016 and is estimated to reach US$ 112.4 Mn by 2017 end. This segment is expected to create an incremental $ opportunity of US$ 46.7 Mn during the forecast period and is anticipated to reach a market valuation of US$ 159.1 Mn by the end of the forecast period in 2025. The plastic recycling segment was valued at US$ 31.0 Mn in 2016 and is estimated to reach US$ 32.0 Mn by 2017 end. This segment is expected to create an incremental $ opportunity of US$ 9.3 Mn during the forecast period. The segment is expected to reach a market valuation of US$ 41.3 Mn by the end of the forecast period in 2025. The plastic recycling segment is expected to grow by about 1.3X over the forecast period. Other applications of centrifugal industrial dryer include applications such as oil & gas, agricultural and other industrial manufacturing. The others segment is expected to hold a relatively low market share in the global centrifugal industrial dryer market over the forecast period.
Persistence Market Research (PMR) analyzes the global centrifugal industrial dryer market in a new publication titled “Centrifugal Industrial Dryer Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 - 2025)”. This study provides data for 2016 along with a comprehensive forecast for the period 2017–2025. The main objective of the report is to identify dynamics in the market and provide recent updates and insights impacting various segments of the global centrifugal industrial dryer market. To provide better understanding of the market, the report also includes the analysis of drivers, restraints, and trends on all five regions namely North America, Europe, Latin America, Asia Pacific and the Middle East & Africa, which influence the current market scenario and future status of the global centrifugal industrial dryer market over the forecast period.
To understand and assess market opportunities and trends, the global centrifugal industrial dryer market report is categorically split into different sections based on market segmentation – by operating principle, by application, and by region. The report starts with the market overview and provides market definition and taxonomy along with value chain analysis, region wise pricing analysis, drivers, restraints, and trends in the market. The sections that follow include global centrifugal industrial dryer market analysis – by operating principle, application, and regional/country level analysis. All the above sections evaluate the market on the basis of various factors impacting the market. Each section discusses the qualitative and quantitative aspects of the global centrifugal industrial dryer market. To give a brief idea about revenue opportunities from the different market segments, the report also provides volume (Units) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period (2017-2025).
In the final section of the report, we have provided the global centrifugal industrial dryer market structure and a detailed competition landscape with company market share and performance, to provide report audiences with a dashboard view of key players operating in the global centrifugal industrial dryer market along with their business strategies. This would enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
For market data analysis, we have considered 2016 as the base year, with market numbers estimated for 2017 and forecast made for 2018–2025. To calculate the market size, the report considers the weighted average price of centrifugal industrial dryer, based on application type such as centrifugal industrial dryer used in metal finishing, food processing, plastic recycling, chemical, and pharmaceutical industries. The forecast assesses the total revenue (US$ Mn) as well as volume (Units) of the global centrifugal industrial dryer market. To deduce market volume size, consumption of centrifugal industrial dryer across its applications has been considered. In order to provide an accurate forecast, we have started by sizing up the current market, which forms the basis of how the global centrifugal industrial dryer market is expected to develop in the future. Critical market data, including the base number and segmental splits, has been devised through in-depth secondary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers and industry experts operating in the global centrifugal industrial dryer market. The forecast presented in the report evaluates the actual consumption of centrifugal industrial dryer and expected consumption in the global centrifugal industrial dryer market over the forecast period.
We have also analyzed the different segments of the global centrifugal industrial dryer market in terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global centrifugal industrial dryer market. The report also analyzes the global centrifugal industrial dryer market based on the absolute dollar opportunity. This usually overlooked while estimating the market forecast. However, from a sales perspective, it is essential to identify absolute dollar opportunity to identify potential resources in the centrifugal industrial dryer market.
PMR has developed a market attractiveness index to understand the key segments in terms of their performance and growth in the global centrifugal industrial dryer market. This market attractiveness index would help clients identify real market opportunities in the global centrifugal industrial dryer market.