The Global VOC Concentrators Market was worth US$ 1.15 billion in 2022 and is projected to reach a valuation of US$ 1.63 billion in 2028 and is predicted to register a CAGR of 6.20% during 2023-2028.
Industrial expansion in Asia-Pacific has been exponential during the last decade, which is mainly attributed to the expansion of China, India, and other countries in the region. The drivers of industrialization in these countries are lower operating costs that enable profitable production and transportation. Air pollution is at its peak, causing serious damage to the environment and humans. Various measures have been taken to minimize air pollution. A volatile organic compound is one of these that generate suspended particles (SPM) and photochemical oxidants. These chemical compounds are very dangerous to human health and must be neutralized before being released into the atmosphere. VOCs are emitted during the painting process and printing factors such as benzene and toluene. The VOC concentrator is essential to reduce escalating air pollution. In recent times, growing concern about air pollution and environmental degradation has driven the market. Volatile organic compounds (VOCs) are organic chemical compounds emitted from paints, solvents, adhesives, aerosols, and dry-cleaning fluids. The VOC concentrator is a pollution reduction technique designed to control and remove VOCs and hazardous air pollutants from industrial exhaust systems. VOC concentrators are typically installed in these applications, which combine a high volume of air and low inlet concentration solvents. These concentrators mainly consist of three phases, namely adsorption, desorption, and thermal oxidation.
Market Trends:
Industrial expansion in the Asia Pacific is growing at an exponential rate and is predicted to increase over the foreseen period. Additionally, VOC concentrators are employed to collect and remove volatile organic compounds, which can form harmful compounds after reacting with nitrous oxide and other compounds in the atmosphere. These factors will have a significant impact on the expansion of the market during the foreseen period.
Market Drivers:
Increased awareness of environmental issues and the enforcement of strict rules and regulations by regulatory authorities are key drivers of the VOC concentrator market. Due to the implementation of these rules and regulations, companies around the world are installing pollution control devices. Therefore, the VOC concentrator market is predicted to grow at a significant CAGR over the foreseen period. Another factor driving the expansion of the VOC concentrator market is rapid industrialization. A significant increase in call from the automotive, aerospace, semiconductor, spray coating, and pharmaceutical industries is predicted to drive the market for VOC concentrators. Knowledge of environmental issues and the application of strict rules and procedures by regulatory authorities are the main drivers of the VOC concentrator market. The VOC concentrator market is projected to grow at a notable CAGR over the foreseen period. Rapid industrialization is another factor that has contributed to the development of the VOC concentrator market. A notable increase in call from the automotive, semiconductor, spray coating, and pharmaceutical industries is predicted to grow the market for VOC concentrators.
Market Restraints:
The benzene and toluene neutralization process is quite complicated and can retard the expansion of the VOC concentrator market.
Market Opportunities:
Another worldwide market driver is the growing call for VOC concentrators from various industries such as paint, automotive, semiconductors, electronics manufacturing, pharmaceuticals, etc. Easy maintenance, simplified operational controls, low O&M costs, compact size, and easy on-site installation are factors driving the call for VOC concentrators in various industries.
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 – 2028 |
|
Base Year |
2022 |
|
Forecast Period |
2023 - 2028 |
|
CAGR |
6.20% |
|
Segments Covered |
By Adsorbent, Application, and Region. |
|
Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
Seibu Giken Co. Ltd. (Japan), Anguil Environmental (US), TKS Industrial Company (US), CECO Environmental (US), The CMM Group, LLC (US), Munters (Sweden), Filtrační Technika (Czech Republic), Cycle Therm, LLC (US), Gulf Coast Environmental Systems (US), Condorchem Envitech, Shore Environmental, Inc (US), Catalytic Products International, Inc. (US), Tecam Group (Spain), Teledyne Technologies (US), and Sang-Won Machinery Co., Ltd. (South Korea) and Others. |
Market Segmentation:
The automotive, paint, and coatings industries are predicted to dominate the market for VOC concentrators due to the huge call from these manufacturing industries. The VOC concentrator is also employed in chemical processing industries due to escalating call. Easy maintenance, simplified operation control, lower running cost, small size, and easy installation are the factors that increase the call for VOC concentrators in different industries.
Market Regional Analysis:
The VOC Concentrator Market Report includes the segmentation of Regions:
North America is predicted to have the largest market share during the foreseen period, due to strict regulations in the region, increased call for manufactured goods, and increased disposable income per capita of individuals. North America dominated the worldwide market for VOC concentrators in 2018. This trend is predicted to continue during the foreseen period due to the presence of a large number of manufacturing companies in North America. The United States dominated the North American VOC concentrator market in 2018 and is predicted to continue to dominate during the foreseen period, as the United States is a leading manufacturer of automotive, aerospace, semiconductors, electronics, etc. The Asia Pacific VOC concentrator market is predicted to grow at the highest CAGR during the foreseen period. This can be attributed to rapid industrialization in developing countries, such as China, India, and Japan, and a significant increase in call for VOC concentrators. China dominates the market for VOC concentrators in the Asia-Pacific region. It is predicted to maintain its dominance during the foreseen period, due to the expansion of various industries in the country.
The market for VOC concentrators in Europe is predicted to expand significantly during the foreseen period due to the implementation of strict rules and regulations by the regulatory authorities. Latin America, the Middle East, and Africa's VOC concentrator market are predicted to grow at a constant CAGR over the foreseen period due to industrial development. The United States Environmental Protection Agency has strict rules and regulations for dealing with offenders of air pollution. To avoid heavy fines, companies are installing air pollution control devices, which has boosted the market. European countries are well aware of the increase in GHG emissions, sea level, and air pollution, among others. Also, the presence of some of the big-name car manufacturers, the pulp and paper industry, and the textile industry may show strong expansion for VOC concentrators. Emerging economies such as China and India are investing heavily in environmental protection to act against air pollution, which will leverage the market for VOC concentrators.
The industry could be hit hard by the COVID-19 outbreak on many fronts: declining call and productivity, operational and supply chain disruptions, and possible tightening in the credit and healthcare markets of your workforce. The industry can be particularly vulnerable as the majority of its production workforce is in on-site jobs that cannot be done remotely. Also, given the nature of the industry, companies may need to think about how to create social distancing in often high-density workplaces. On top of that, many companies are predicted to prepare for a major worldwide supply chain and other distribution disruptions. They should also expect supply chain partners to face their own challenges and cannot fulfill orders on time, or cannot complete them, during the crisis. Finally, expect a slowdown in the call for products as a result of some affected industries, including industrial and automotive products. However, at the same time, we could see a continued call from other end-users, such as producers of personal and household health products.
Market Key Players:
The Prominent Players in the Global VOC Concentrator Market are
Market Recent Developments:
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region