Chemical Processing Equipment Market Growth Driven by Technological Advancements and Sustainability Initiatives.

AUSTIN, TX, UNITED STATES, February 6, 2025 /EINPresswire.com/ -- According to the SNS Insider report, the chemical processing equipment market was valued at USD 63.60 billion in 2023. The market is anticipated to reach to USD 103.82 billion by 2032, at a CAGR of 5.60% in the forecast period. Strong growth is expected from the uptake of new process technologies, together with a demand for sustainable, high-efficiency equipment across a multitude of sectors.

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Key Players: 

• Siemens AG (Automation systems, control systems, drives, motors)
• The Dow Chemical Company (Pumps, valves, heat exchangers, filtration equipment)
• General Electric Company (Control systems, compressors, motors, generators)
• Sulzer Ltd. (Pumps, agitators, reactors, mixers, filtration equipment)
• Fluor Corporation (Engineering and construction services, modular equipment)
• BASF SE (Catalysts, pumps, valves, heat exchangers)
• Linde plc (Cryogenic equipment, gas processing, compression systems)
• Mitsubishi Heavy Industries Ltd. (Compressors, turbines, heat exchangers)
• KBR Inc. (Reactors, separation columns, heat exchangers)
• Emerson Electric Co. (Valves, automation systems, flow meters, controllers)
• Honeywell International Inc. (Control systems, sensors, valves, pumps)
• Andritz AG (Pumps, filtration equipment, drying systems)
• Schneider Electric (Automation solutions, control panels, energy management systems)
• Yokogawa Electric Corporation (Control systems, analyzers, sensors)
• WorleyParsons Limited (Engineering, procurement, and construction services)
• Cameron (Schlumberger) (Valves, pressure relief systems, control valves)
• Metso Corporation (Pumps, crushers, heat exchangers)
• Curtiss-Wright Corporation (Flow control products, valves, pumps)
• GEA Group (Heat exchangers, pumps, centrifuges)
• Parker Hannifin Corporation (Filtration systems, pumps, compressors)

Market Segmentation and Sub-Segmentation Included are:

By Type
• Reactors
• Heat Exchangers
• Pumps
• Compressors
• Distillation Columns

In 2023, Reactors held more than 34% of the market share. Reactors are at the heart of chemical reaction in a range of industries including petrochemicals, pharmaceuticals and food processing. Without them, chemical processing operations would not be able to provide the same level of efficiency and control in large-scale production.

By Application
• Petrochemical Industry
• Pharmaceutical Industry
• Food and Beverage Industry
• Water Treatment
• Pulp and Paper Industry

The Petrochemical Industry segment held the largest market share of over 32% in 2023. Specialty equipment in the form of reactors, heat exchangers, and distillation columns continues to see demand due to increasing demand for petrochemical products worldwide.

By Material
• Metals
• Plastics
• Glass
• Ceramics

The Plastics segment held the market with more than 32% share in 2023. The corrosion resistance, lightweight nature, facility of fabrication makes plastics very attractive materials. Polymeric materials have found extensive use in pumps, valves, and storage tanks for doing chemical processes.

By Operation
• Batch Processing Equipment
• Continuous Processing Equipment

The batch-processed equipment held 62% of the market share in 2023. This versatility is a significant factor contributing to its widespread adoption in sectors needing moderate production volumes. The batch processing equipment is primarily used in pharmaceuticals, food & beverage production, and specialty chemicals, where flexibility is necessary due to changing product formulations and production schedules.

In 2023, North America held more than 38% of the total market share. 

Major chemical manufacturers and strong industrial infrastructure help the region to grow dominantly. Moreover, heavy investments in research and development thus driving the technological advancements for the chemical process manufacturing equipment market. In addition, favorable government policies and strict regulations further boost productivity and efficiency, establishing North America as an important player in the international market.

The Asia-Pacific is the fastest-Growing in chemical processing equipment market. The rapid industrialisation of countries such as China and India has positively influenced demand for chemicals and consequently chemical processing equipment. The low manufacturing cost in these areas combined with increased investments in infrastructure development further encourages chemical production here.

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Recent Developments

In July 2023:  Emerson acquired AspenTech for USD 16 billion. This acquisition strengthens Emerson's software capabilities, particularly in optimizing chemical processes. AspenTech's advanced solutions will help streamline operations and improve efficiency across a range of chemical processing applications, positioning Emerson as a leader in digital transformation within the industry.

In October 2023: GEA introduced its new EcoDry vacuum dryer, designed for pharmaceutical production. The dryer significantly reduces energy consumption compared to traditional models. It features advanced heat recovery systems, offering high-efficiency drying while minimizing environmental impact, making it ideal for energy-conscious pharmaceutical manufacturers.

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