One of the key factors influencing the market growth is the rise in demand for industrial extraction equipment from the food and fragrance business, pharmaceutical industry, chemical process, and other end-users. Rising disposable incomes and an increased emphasis on product quality are also projected to fuel market expansion in the ensuing years. In addition, government programs to encourage the use of industrial extraction tools and the development of new technologies are anticipated to give the industry a considerable boost.
In sectors like the food, fragrance, and pharmaceutical industries, industrial extraction equipment is crucial. In order to produce the required final product, it is utilized to extract various compounds from raw materials or ingredients. Industrial extraction equipment accurately extracts components, which reduces costs, saves time, and enhances product quality. It also produces compounds that are purer, which boosts efficiency; for these reasons, it is gaining popularity across a variety of industries.
Equipment for industrial extraction has a number of benefits, including lower costs and better product quality. By removing only the necessary components from raw materials or additives, it also reduces waste. Industrial extraction equipment also has the capacity to deliver precise results quickly. Additionally, by removing physical labour, it lowers labour expenses and improves productivity.
Systems used to separate components or raw materials into their constituent compounds in order to produce a desired end product are referred to as industrial extraction equipment. It is frequently employed in sectors of the economy such food, scent, and medicine. Industrial extraction equipment accurately extracts components, which reduces costs, saves time, and enhances product quality. It also improves effectiveness by generating chemicals with higher purity.
At a CAGR of 5.5% from the year 2021 to the year 2031, the market for industrial extraction equipment is anticipated to increase from USD 9.81 billion in 2021 to USD 14.52 billion by the year 2031. The rising demand for industrial extraction equipment from the food and fragrance business, pharmaceutical industry, chemical process, and other end-users is responsible for the expansion of this market.
In the near years, market growth is probably going to be constrained by the high initial costs associated with buying industrial extraction equipment. Lack of training and experience in using such equipment might also pose a significant barrier to market expansion. However, government programs to encourage the use of industrial extraction tools and the development of new technologies are anticipated to give the industry a significant boost.
Covid-19 Impact & Market Status
Due to lockdowns and decreased productivity, the COVID-19 pandemic is predicted to have a detrimental effect on the global market for industrial extraction equipment. The industry, however, is expected to experience a boom in demand in 2021 as a result of governments removing limitations and rising expenditures in new technologies. Additionally, ened attention to safety measures has prompted the creation of more effective and affordable extraction technologies, which is further fueling market expansion.
The 101-200 L segment is expected to form major portion of the market
During the upcoming years in the forecast period, the segment 101-200 L is anticipated to develop at the quickest rate. This is a result of the rise in demand for the pharmaceutical and food processing industries for industrial extraction machinery. Additionally, technological developments have produced extraction technologies that are more effective and affordable, which is further promoting market expansion.
Food and Fragrance segment segment to be on top of the market
In the upcoming years of the forecast period, the food and fragrance industries are anticipated to grow most quickly. This can be linked to the rise in production needs in this industry's demand for industrial extraction equipment. The development of more effective and affordable extraction technologies because to technological improvements has further fueled market expansion.
Asia Pacific to dominate the market
Due to the presence of significant players and rising government and private organization investments, Asia Pacific is anticipated to experience the greatest growth rate in the upcoming years of the forecast period. The market is also expanding as a result of the rising demand for industrial extraction equipment in the food processing sector.
Glencore International AG (Switzerland), DowDuPont Inc. (U.S.), Royal Dutch Shell Plc. (Netherlands), LyondellBasell Industries Holdings BV (U.S.), INEOS Group Limited (UK), Exxon Mobil Corporation (U.S.), Chevron Corporation (U.S.), BP Plc. (UK), BASF SE (Germany), and Huntsman International LLC are the leading companies operating in the global industrial extraction equipment market (U.S.). To increase their market share, these businesses are focusing more on strategic activities like mergers and acquisitions.
Latest Innovations in the Global Industrial Extraction Equipment Market: A Snapshot
- A new technology for the commercial extraction of essential oils from plant-based materials was unveiled in 2019 by DowDuPont Inc. High pressure and low temperature (HP/LT) technology is used to produce pure essential oil extracts with little degradation.
- BASF SE introduced a new line of cutting-edge industrial extraction systems in 2020. These systems make use of ultra-high pressure homogenization technology to produce high-quality extracts with little degradation.
- The aim of trade research evaluation is to give lessons which are reliable and trustworthy on the universal market of Industrial Extraction Equipment. Data which is complicated has been identified by the research study and it also shows the current and past state of the industry along with market drifts which are expected in the upcoming years of the forecast period. It also shows the expected size of the market. All the information of the sectors in the market have been analysed by the report study which also includes leaders of the market along with investors, customers, and new entrants
Variable Frequency Drive Motors Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 14.52 billion|
|Growth Rate||CAGR of 5.5% during 2022-2031|
|Segment Covered||by Type, By Application, By End-User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||AG (Switzerland), DowDuPont Inc. (U.S.), Royal Dutch Shell Plc. (Netherlands), LyondellBasell Industries Holdings BV (U.S.), INEOS Group Limited (UK), Exxon Mobil Corporation (U.S.), Chevron Corporation (U.S.), BP Plc. (UK), BASF SE (Germany), and Huntsman International LLC|
Key Segments of the Industrial Extraction Equipment Market
Type Overview, 2021-2031 (USD Billion)
- <15 L
- 16-50 L
- 51-100 L
- 101-200 L
- ?200 L
Application Overview, 2021-2031 (USD Billion)
- Food and Fragrance Industry
- Pharmaceutical Industry
- Chemical Process
End- User Overview, 2021-2031 (USD Billion)
- Research Institutes
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America