Market Trends of Pneumatic Conveying Systems Industry
This section covers the major market trends shaping the Pneumatic Conveying Systems Market according to our research experts:
Chemical Sector to Witness Significant Growth
- The chemical sector is one of the prominent segments that utilize pneumatic conveying systems to transfer chemicals through an enclosed conveying pipeline from one or more sources to one or more destinations. Air and pressure difference are used inside the pipeline as a transferring medium.
- The sector primarily uses dilute phase pneumatic conveying systems that maintain an air velocity of around 3200 to 8000 feet per minute and a positive or negative pressure of approximately 5 to 12 pound per square in gauge (PSIG) or 4 to 12 Hg for continuous of chemicals within a facility.
- In 2018, world chemical sales grew by nearly 5.2%, as compared to 2008. With chemical sales of around EUR 3.34 trillion in 2018, it is expected to have increase sales on account of the growing demand for chemicals in various sectors like fertilizer and pharmaceutical.
- Regarding capital expenditure, the sector has spent EUR 193.1 billion in 2018, which grew by nearly 5.9%, as compared to 2008. China is one of the major countries that has contributed to almost 45% of the global investment in 2018.
- On account of COVID-19, the slowdown of manufacturing units occurred all around the world, for which chemical market like the United States is expected to squeeze its chemical production capacity in 2020.
- On the other hand, an excess requirement of medicines to tackle COVID-19 has boosted the pharmaceutical sector in 2020 and is likely to grow positively during the upcoming years. Chemicals such as hydrochloric acid are primarily used in pharmaceutical industries to manufacture active pharmaceutical ingredients (API). Thus, increasing uses of hydrochloric acid in pharmaceutical companies is likely to have a positive impact on the chemical sector and would help in the growth of the market during the forecast period.
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Asia-Pacific to Dominate the Market
- Asia-Pacific is one of the prominent regions that have a large number of industries in various sectors. China is one of the major countries in the region, which is considered to be the largest manufacturing hub in the world, contributing nearly 28.4% of global manufacturing output.
- Chemical, pharmaceutical, plastic are a few significant segments in the region that use pneumatic conveying systems to flow its materials from one location to the other.
- China is the largest chemical producer in the world. From contributing 23.6% of the global chemical sales in 2009 to nearly 35.8% in 2018, China has expanded its chemical business exponentially during the last nine years, which supported the pneumatic conveyor systems to grow in the market.
- China, along with other countries of the region, has sold nearly EUR 1.9 trillion of the chemical during 2018. It is expected to increase in sales during the upcoming years because of the increasing demand for compounds primarily in plastic and pharmaceutical companies.
- Apart from chemical, China is one of the largest producers of plastic materials globally, accounting for nearly 30% of the global plastics production. The demand and production of plastic products have increased in China since 2017, which has supported the growth of plastic manufacturing units of the country.
- With its increasing population, countries like China and India are expected to have a huge demand for chemicals, medicines, plastic, and food & beverage industries during the upcoming years. An increase in demand is likely to increase investment in the aforementioned sectors and would thereby increase the market of pneumatic converting systems during the forecast period.
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