The global adsorption equipment market is estimated to be USD 370 million in 2018 and is projected to reach USD 478 million by 2023, at a CAGR of 5.3% during the same period. The stringent regulations for the control of VOC emissions are mainly driving the demand for adsorption equipment. The manufacturing industries such as automotive paints, chemical, semiconductor, printing, and paper have to comply with VOC mandates to control air pollution. This, in turn, is expected to propel the demand for adsorption equipment. The industrial growth in APAC is expected to offer lucrative growth opportunities for the adsorption equipment manufacturers. Easy access to raw materials, low production costs, and easy availability of labor have fueled the growth of the automotive, chemical, food & beverage, and pharmaceutical industries in APAC. These factors have attracted key multinational manufacturers to the region, which, in turn, is expected to drive the adsorption equipment market. The high cost of installation is the major challenge for the adsorption equipment market. The cost of installation is 20–25% of the overall equipment cost, thus hindering end users to install this equipment.
Durr Aktiengesellschaft (Germany), CECO Environmental (US), Evoqua Water Technologies LLC (US), TIGG LLC (US), Chemisch Thermische Prozesstechnik (CTP) GmbH (Austria), TAIKISHA limited (Japan), Environmental C & C Inc. (US), Gulf Coast Environmental Systems (US), and Monroe Environmental Corp (US) are the key suppliers of adsorption equipment, globally.
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Environmental C & C Inc. (US) is leading the adsorption equipment market due to its unique product offerings. The company is highly focused on offering diverse products ranging from low capacity to high capacity. It offers FBC concentrator equipment for applications in semiconductor chip manufacturing, Teflon tubing manufacturing, and furniture painting ranging from 1,800 CFM to 50,000 cubic feet per meter.
TAIKISHA LIMITED (Japan) is another leading player in the adsorption equipment market. The company operates through its subsidiary TKS Industrial Company. It has maintained a leading position in the adsorption market through strong customer base and technical expertise.
CECO Environmental (US) is also a major player in the adsorption equipment market. The company is focusing on sustainable, profitable growth through organic and inorganic strategies along with premier technology and solutions in diverse end-use industries.
Adsorption Equipment Market by Capacity (Less than 10,000 CFM, 10,000-50,000 CFM, and More than 50,000 CFM), End-use Industry (Automotive Paints, Chemical, Semiconductor, and Printing), and Region-Global Forecast to 2023
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